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Corporate IrresponsibilityAmerica`s Newest Export$
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Lawrence E. Mitchell

Print publication date: 2001

Print ISBN-13: 9780300090239

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300090239.001.0001

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Capitalism, Socialism, and Democracy

Capitalism, Socialism, and Democracy

Chapter:
(p.253) Chapter 10 Capitalism, Socialism, and Democracy
Source:
Corporate Irresponsibility
Author(s):

Lawrence E. Mitchell

Publisher:
Yale University Press
DOI:10.12987/yale/9780300090239.003.0011

This chapter focuses on the relationships among capitalism, socialism, and democracy. It explains that capitalism requires some form of private property and some form of markets, although the particular ownership and market forms are not fixed. Some theorists have presented the system of labor that accompanies capitalism as a definitional point. The chapter discusses the economist Adam Przeworski, who, in his study of the transition economies and polities of Europe, suggests that capitalism includes the existence of a labor market sufficiently specialized that most people produce “for the needs of others,” thus adding a neoclassical aspect to the basic definition. It also discusses Michel Albert, who divides the corporate world into the Rhine model, in which he includes Japanese corporations as well as continental corporations and the neo-American model.

Keywords:   capitalism, socialism, democracy, labor market, Rhine model

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