Purpose – The purpose of this paper is to address the root causes of rising imbalances in the US economy. There is the view that the dominance of the liberal economic philosophy among the American decision makers and business elite resulted in marginalization of the role of the economic...

Purpose – The greatest asset of US capitalism until recently has been a blend of pragmatism with a passion to create the best socio-economic system in the world. Today the USA is besieged by unprecedented budget deficit, public debt, financial crises, unemployment and rising...

Purpose – The purpose of this paper is to analyse the causes of failure of the neoliberal model of capitalism and rise of state capitalism. The arguments that efficient market economy can thrive under autocracy are refuted. Design/methodology/approach – Both western neoliberal capitalism and...

Purpose – The purpose of this paper is to address the root causes of rising imbalances in the US economy. There is the view that the dominance of the liberal economic philosophy among the American decision makers and business elite resulted in marginalization of the role of the economic...

Purpose – The purpose of this paper is to analyse the causes of failure of the neoliberal model of capitalism and rise of state capitalism. The arguments that efficient market economy can thrive under autocracy are refuted. Design/methodology/approach – Both western neoliberal capitalism and...

Purpose – The greatest asset of US capitalism until recently has been a blend of pragmatism with a passion to create the best socio‐economic system in the world. Today the USA is besieged by unprecedented budget deficit, public debt, financial crises, unemployment and rising...