Abstract
The term ‘capitalism’ is no longer a relevant way in which to describe or to understand a modern economy. Ownership of capital is not the source of economic power that it once was. Business leaders of today do not own the factories and the machines, nor do they need to. Let us consider instead, markets. Not the markets for financial products that we see depicted on rows of flickering screens in Canary Wharf, but real markets. Market economies have proved to be chaotic, and imperfect and yet they are the most successful way we know to allocate goods and services. Through a process of experimentation, much failure and some success they evolve. Their development is necessarily uncertain, but that is also their greatest strength.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
