Eastern European Business and Economics Journal

A New Theory of Capitalism: Key Moments and General Logic

 

Anatoliy M. Zheleznyak

 

Zheleznyak A. 2015. A New Theory of Capitalism: Key Moments and General Logic. Eastern European Business and Economics Journal 1(1): 28-45.

 

Full text

 

Reviewers:

António CALEIRO, Universidade de Évora, Portugal;

Manoj PULICKAKUDY, Cochin University of Science and Technology, India;

Dimitris KALLIORAS, University of Thessaly, Greece.

 

Abstract:

A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested.

 

Keywords:

Theory of capitalism; market; equilibrium; perfect competition; imperfect competition; monopoly; crisis; crisis-proof policy; crisis-proof behaviour.

 

Language:

English

 

References:

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http://siteresources.worldbank.org/INTTRANSITION/Newsletters/20561449/novdec98.pdf