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According to some yes. In this (historically oriented) view, whatever succeeded feudalism is called capitalism. Capitalism, broadly accepted as a phase of history, is dominating the last half-a-millennium. It has also become conventional that capitalism itself had various phases and stages. Its antecedents go back to ancient history. Barter and exchange ...


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There is an ongoing project to try and estimate how close a society is to the ideal, see the indices of economic freedom by the Heritage Foundation and the Fraser Institute. The ones who made They score countries from 0 (all-pervasive state control) to 10. Hong Kong (8.91) and Singapore (8.71) are currently the two countries closest to the ideal, according ...


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Distributism Distributism is one such alternative, promoted in the early 20th century by Hilaire Belloc (Economics for Helen: A Brief Outline of Real Economy) and G. K. Chesterton (Utopia of Usurers). As John Médaille describes it: Its key tenet is that ownership of the means of production should be as widespread as possible rather than being ...


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Arguably, Henry George described such an alternative in his 1874 work Progress and Poverty. His system eventually became known as Georgism. George saw his system as different than either Capitalism or Communism, as both of those systems equated Land with Capital and called for either the private ownership of both, or the communal ownership of both. ...


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To expand on my comment. Your question is not really about economics but about philosophy or political science. The reason for this is that the Economics is usually defined following the definition of Lionel Robbins as: "Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses." Neo-...


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The German mathematician-turned-economist William Lexis (1837-1914) considered capitalism as "dat[ing] back to the Middle Ages": Large-scale enterprise based on the ownership of money, and operating on the basis of such monetary power; and its beginnings which date back to the Middle Ages are to be found in commercial and banking enterprises. Also, so ...


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A nice way to check this is by looking at the economic freedom index As we can see, this is a scale, there is no perfect capitalistic country and most of the countries are not very free economically


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Did/does a decline in crime rates encourage materialistic values? These are interesting claims but Shiller does not seem to offer anything to back them. Much of it sounds quite logical, whence I would not expect the author to present evidence on that. But, despite my consistent preference for neoliberalism, I think the author's conclusion is ...


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Robert Ashford has written about his proposal for a better, inclusive capitalism, but I don't understand the method. For example, take a look at this article. All is very obscure. Can't see how this would work. The article is altogether too sketchy, idealistic, contradictory, very flawed, with too many unfilled gaps and motley elements. Much of it ...


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The dictionary definitions of capitalism (currently the most upvoted answer) have been critiqued as inadequate, in the sense that they are too broad, by Geoffrey Hodgson in his treatise, Conceptualising Capitalism (University of Chicago Press, 2015). Definitions proliferate. Most dictionaries stress private ownership and markets; many add the profit ...


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Though there may not be a set definition of "capitalism" chisled in stone somewhere, there are general principles that economists agree are implied in capitalism and that capitalism implies. Take, for example, the two below definitions of "capitalism": [A]n economic system characterized by private or corporate ownership of capital goods, by ...


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