Word: capitalisme
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Johnson, grandson of a Mississippi sharecropper, has long been a leading example of black capitalism at its bootstrap best. His Chicago-based firm held about 60% of the black hair-care market. His Ultra Sheen No-Base hair relaxer was the first product to contain a protective cream that shielded...
Yet, having survived wars, slumps and excessive booms, capitalism stands to surmount the current crises. Writes Left-of-Center Economist Robert Heilbroner, one of capitalism's most fervent critics and an advocate of central economic planning: "History has shown capitalism to be an extraordinarily resilient, persisting and tenacious system...
The Japanese variant of capitalism cannot be readily or precisely copied, except perhaps by a few Asian countries, because it is rooted in a homogeneous, hierarchical society with a not so distant feudal past. Changes are slowly taking place, but disciplined workers still display an almost mystical loyalty to their...
But Japan's system of capitalism does provide a lesson for the U.S. in one crucial respect. The nation's power elite, which shapes and guides the course of the economy as a whole, practices a democratic ideal that individualistic Americans claim as their own but often seem...
Japan's approach to capitalism is by no means free of problems. Even wealthy Japan has limited capital resources. To stimulate investment in export industries, the nation has held taxes low and scrimped on domestic spending. Housing and such basic necessities as roads and urban sewer systems remain inadequate...