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A spectre is haunting the world - the spectre of global capitalism

Author

Listed:
  • William Kingston

    (School of Business Studies, Trinity College, Dublin, Ireland)

Abstract

Individual property rights are fruitful for economic development because they civilise self-interest by forcing it to serve the common good. The history of previous property rights "cycles," however, shows that their ability to do this deterioriates over time because the laws of property fall under the control of those whom property is meant to discipline. Irresponsible ownership then intensifies inequality until a breaking point is reached. The present cycle is no exception, but its breaking point has been postponed by the growth of the democratically-inspired welfare state.

Suggested Citation

  • William Kingston, 2000. "A spectre is haunting the world - the spectre of global capitalism," Journal of Evolutionary Economics, Springer, vol. 10(1), pages 83-108.
    • Handle: RePEc:spr:joevec:v:10:y:2000:i:1:p:83-108
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    Citations

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    Cited by:

    1. Lena Gerdes & Bernhard Rengs & Manuel Scholz-Wäckerle, 2022. "Labor and environment in global value chains: an evolutionary policy study with a three-sector and two-region agent-based macroeconomic model," Journal of Evolutionary Economics, Springer, vol. 32(1), pages 123-173, January.
    2. William Kingston, 2006. "Response to Professor Andersen," Industry and Innovation, Taylor & Francis Journals, vol. 13(1), pages 117-120.
    3. Kosta Josifidis & Alpar Lošonc, 2012. "Value and Power in Economics," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 59(4), pages 501-519, September.

    More about this item

    Keywords

    Property rights - Globalisation - World Trade Organisation - Schumpeter;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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