Finance:Political capitalism
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Political capitalism[1] or Politically oriented capitalism is a concept introduced by Max Weber in his 1921 book Economy and Society to describe monetary profit-making through non-market means.[2][3] In 2018, Holcombe describes political capitalism as an economic system in which the sharp distinction between states and markets is blurred.[4][5][6][7][8]
Robert Brenner and Dylan Riley have characterized the post-1990 economy of United States as political capitalism, where raw 'political power' rather than 'productive investment' is the "key determinant of rate of return".[9]
Filippa Chatzistavrou broadens the concept of political capitalism applied in the digital age by pushing further the idea of states and high tech markets being co-constitutive in order to include not only rent seeking, property rights’ issues and surplus extraction mechanisms, but also models of governance.[10]
Background
The definition of capitalism as an economic system based on monetary profit-making rather than a subsistence economy is shared by Max Weber and Fernand Braudel.[11][12]
See also
References
- ↑ Holcombe, Randall (2015-03-20). "Political Capitalism as a Distinct Economic System" (in en). https://www.masterresource.org/political-capitalism/political-capitalism/.
- ↑ Vahabi, Mehrdad (2023). "Prologue" (in en). Destructive Coordination, Anfal and Islamic Political Capitalism. SpringerLink. p. XV. doi:10.1007/978-3-031-17674-6. ISBN 978-3-031-17673-9. https://link.springer.com/book/10.1007/978-3-031-17674-6.
- ↑ Krieger, Tim; Meierrieks, Daniel (2016-12-01). "Political capitalism: The interaction between income inequality, economic freedom and democracy". European Journal of Political Economy 45: 115–132. doi:10.1016/j.ejpoleco.2016.10.005. ISSN 0176-2680. https://www.sciencedirect.com/science/article/abs/pii/S0176268016302282.
- ↑ Holcombe, Randall G. (2018). Political Capitalism: How Economic and Political Power Is Made and Maintained. Cambridge Studies in Economics, Choice, and Society. Cambridge: Cambridge University Press. doi:10.1017/9781108637251. ISBN 978-1-108-47177-0. https://www.cambridge.org/core/books/political-capitalism/668D714DEEA375AF686E479535E1876A.
- ↑ "Book Review: Political Capitalism: How Economic and Political Power Is Made and Maintained, Randall G. Holcombe" (in en-US). https://www.independent.org/tir/2020-21-winter/political-capitalism/.
- ↑ Cutsinger, Bryan P. (2019). "Review of Political capitalism: how economic and political power is made and maintained". Public Choice 180 (3/4): 501–503. doi:10.1007/s11127-019-00639-x. ISSN 0048-5829. https://www.jstor.org/stable/48703940.
- ↑ Cutsinger, Bryan P. (2019-09-01). "Randall G. Holcombe: Political capitalism: how economic and political power is made and maintained" (in en). Public Choice 180 (3): 501–503. doi:10.1007/s11127-019-00639-x. ISSN 1573-7101. https://link.springer.com/article/10.1007/s11127-019-00639-x.
- ↑ Yadav, Vikash (2023) (in en). Liberalism's Last Man. University of Chicago Press. doi:10.7208/chicago/9780226827360.001.0001. ISBN 978-0-226-82147-4. https://www.bibliovault.org/BV.landing.epl?ISBN=9780226827360.
- ↑ Riley, Dylan; Brenner, Robert (2022-12-21). "Seven Theses on American Politics". New Left Review 6: 5–27. https://newleftreview.org/issues/ii138/articles/dylan-riley-robert-brenner-seven-theses-on-american-politics.
- ↑ Chatzistavrou, Filippa (2024-12-20). "Political capitalism in the digital era: reconstructing the capital– state relation". Frontiers in Political Science 6 (138). doi:10.3389/fpos.2024.1509376.
- ↑ Vahabi, Mehrdad (2023). "Political Capitalism, its Varieties" (in en). Destructive Coordination, Anfal and Islamic Political Capitalism. SpringerLink. p. 105 - 140. doi:10.1007/978-3-031-17674-6. ISBN 978-3-031-17673-9. https://link.springer.com/book/10.1007/978-3-031-17674-6.
- ↑ Schwartz, Herman (2012-08-01). "Political Capitalism and the Rise of Sovereign Wealth Funds". Globalizations 9 (4): 517–530. doi:10.1080/14747731.2012.699924. ISSN 1474-7731. Bibcode: 2012Glob....9..517S. https://www.tandfonline.com/doi/abs/10.1080/14747731.2012.699924.
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