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A New Theory of Capitalism: Key Moments and General Logic

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  • Anatoliy M. Zheleznyak

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.

Suggested Citation

  • Anatoliy M. Zheleznyak, 2015. "A New Theory of Capitalism: Key Moments and General Logic," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 1(1), pages 28-45.
    • Handle: RePEc:eeb:articl:v:1:y:2015:i:1:p:28-45
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    References listed on IDEAS

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    1. Lee, Frederic, 2011. "The making of heterodox microeconomics," MPRA Paper 30907, University Library of Munich, Germany.
    2. Journal of Economics Library, 2015. "New Economics Books," Journal of Economics Library, KSP Journals, vol. 2(4), pages 380-426, December.
    3. Journal of Economics Library, 2015. "New Economics Books," Journal of Economics Library, KSP Journals, vol. 2(3), pages 214-284, September.
    4. Elliott, John E., 1983. "Schumpeter and the theory of capitalist economic development," Journal of Economic Behavior & Organization, Elsevier, vol. 4(4), pages 277-308, December.
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    1. Zheleznyak, Anatoliy, 2014. "Новая Теория Рынка И Капитализма. В 3-Х Частях. Часть 3. Капитализм [A New Theory of Market and Capitalism. In three parts. Part 3. Capitalism]," MPRA Paper 60970, University Library of Munich, Germany.

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    More about this item

    Keywords

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

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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