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The (confusing) role of capital in speculative capitalism—U.S.- style

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  • Jim SAWYER

    (RRI)

Abstract

Tightly connected to the U.S.-spawned global financial crisis of autumn, 2008, this paper considers the underlying doctrinal roots of speculative capitalism, including roots in the neoclassical profit lacuna. It examines recent precipitating events and proposes crucial changes to both doctrine and method in the social sciences. Among essential proposals is the policy prescription that government oversight will not change “pseudo-capitalist” outcomes, unless articulated tightly with what here is called “vision,” and which Michael Porter calls “strategy.”

Suggested Citation

  • Jim SAWYER, 2008. "The (confusing) role of capital in speculative capitalism—U.S.- style," Working Papers 5, Réseau de Recherche sur l’Innovation. / Research Network on Innovation.
    • Handle: RePEc:rii:rridoc:5
    as

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    File URL: http://rrien.univ-littoral.fr/wp-content/uploads/2008/12/doc_5.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    role of capital; speculative capitalism; U.S. style;
    All these keywords.

    JEL classification:

    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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