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State Versus Private Ownership
Shleifer, Andrei - 2021
costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of … enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on …
Persistent link: https://www.econbiz.de/10013239155
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Why Doesn't Capitalism Flow to Poor Countries?
Di Tella, Rafael - 2014
corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … externality since the existence of corrupt entrepreneurs hurts good entrepreneurs by reducing the electoral appeal of capitalism …
Persistent link: https://www.econbiz.de/10012751901
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Macroeconomic Planning and Disequilibrium : Estimates for Poland, 1955-1980
Portes, Richard; Quandt, Richard; Winter, David; Yeo, … - 2021
This paper specifies and estimates a four-equation disequilibrium model of the consumption goods market in a centrally planned economy(CPE).The data are from Poland for the period 1955-1980, but the analysis is more general and will be applied to other CPEs as soon as the appropriate data sets...
Persistent link: https://www.econbiz.de/10013237042
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Planning and Market Structure
Carlton, Dennis W. - 2021
This paper examines a model in which demand is uncertain and production must occur before demand is known for sure. By investing resources in information gathering activity, demand can be forecast. The paper investigates the relationship between the incentive to plan and market structure and...
Persistent link: https://www.econbiz.de/10013244768
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Left, Right, Left : Income, Learning and Political Dynamics
Morrow, John - 2013
The political left turn in Latin America, which lagged its transition to liberalized market economies by a decade or more, challenges conventional economic explanations of voting behavior. This paper generalizes the forward-looking voter model to a broad range of dynamic, non-concave income...
Persistent link: https://www.econbiz.de/10013074913
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Pervasive Shortages Under Socialism
Shleifer, Andrei; Vishny, Robert W. - 2021
We present a new theory of pervasive shortages under socialism, based on the assumption that the planners are self … suggests that market socialism is bound to fail even without computational complexities facing the planners …
Persistent link: https://www.econbiz.de/10013228630
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War, Socialism and the Rise of Fascism : An Empirical Exploration
Acemoglu, Daron; De Feo, Giuseppe; De Luca, Giacomo; … - 2022
The recent ascent of right-wing populist movements in many countries has rekindled interest in understanding the causes of the rise of Fascism in inter-war years. In this paper, we argue that there was a strong link between the surge of support for the Socialist Party after World War I (WWI) and...
Persistent link: https://www.econbiz.de/10013292686
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Capitalizing China
Fan, Joseph P. H. - 2011
Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist … features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese …
Persistent link: https://www.econbiz.de/10013117212
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Customer Capital
Gourio, Francois - 2011
Firms spend substantial resources on marketing and selling. Interpreting this as evidence of frictions in product markets, which require firms to spend resources on customer acquisition, this paper develops a search theoretic model of firm dynamics in frictional product markets. Introducing...
Persistent link: https://www.econbiz.de/10013122655
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Occupational Choice and the Spirit of Capitalism
Doepke, Matthias - 2007
The British Industrial Revolution triggered a reversal in the social order of society whereby the landed elite was replaced by industrial capitalists rising from the middle classes as the economically dominant group. Many observers have linked this transformation to the contrast in values...
Persistent link: https://www.econbiz.de/10012777611