corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … 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. …

Smith's invisible hand - that markets coordinate the selfish actions of millions of people and lead to the welfare of … functioning of capitalism. They underestimated the possibilities to regulate the capitalist system and also allowed the working … regulation with the features of capitalism analysed in the Manifesto. …