Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity (review)

Abstract

The rise of “capitalist entrepreneurship” has been gaining momentum for the past three decades, or so.  It is more than about economics, politics, and the rule of law - or even culture.  Perhaps more aptly it is a synergy of all three. More specifically, it’s a type of capitalism where entrepreneurs, who continue to provide radical ideas that meet the test of the marketplace, play a central role in the system. It is also a sign of the times, reflecting a profound blend of the newest technological achievements and oldest human habits: basic needs and not so basic wants.Arguably, capitalism has been evolving for centuries.  It has taken many shapes and forms - good and not so very good.  (“Capitalism can bring the best in products and the worst in people” – went one popular ditty.)  Just to capture its ever changing and evolving nature alone would require volumes.