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Capitalism's Deniers

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  • Nitzan, Jonathan
  • Bichler, Shimshon

Abstract

A new, capitalism-denying book is on the shelves, and it makes a stunning discovery: ‘Capitalism without competition is not capitalism’! Capitalist crisis, like climate change, tends to breed ‘capitalism deniers’. The problem, argue the deniers, lies not in capitalism but in its ‘distortions’. In its pure form, they maintain, capitalism is the best of all possible worlds. But to the deniers’ chagrin, contemporary capitalism is no longer pristine. Unlike its original, once-upon-a-time version, its current one is subject to distorting ‘imperfections’, ‘shocks’ and ‘exogenous’ events. And it is these aberrations – rather than capitalism itself – that should be blamed for the system’s misfortunes.

Suggested Citation

  • Nitzan, Jonathan & Bichler, Shimshon, 2019. "Capitalism's Deniers," EconStor Preprints 190952, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:190952
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    File URL: https://www.econstor.eu/bitstream/10419/190952/1/20190100_bn_capitalism_deniers_rn.pdf
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    References listed on IDEAS

    as
    1. Bichler, Shimshon & Nitzan, Jonathan, 2014. "The Enlightened Capitalist," EconStor Preprints 157839, ZBW - Leibniz Information Centre for Economics.
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      Keywords

      capitalism; competition; fundamentalism; ideology; neoclassical economics;
      All these keywords.

      JEL classification:

      • L - Industrial Organization
      • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
      • P - Political Economy and Comparative Economic Systems

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