Word: capitalisme
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Also in doubt is one of the basic tenets of American capitalism: faith in the future. Though capitalism has always been regarded as raw and risky, people accepted the system because it held out the promise that hard work and talent would lead to high rewards. Not everybody was created...
If market economies are doing so poorly, are the centrally directed command economies doing any better? No. Capitalism's primary rival, Communism, is afflicted by most of the same ailments, and more. Communist countries are encountering far more difficulty than the West in adapting to the age of economic anxiety...
While quite willing to benefit from Government support, businessmen nevertheless complain with much justice that the leaden hand of Government undermines the freedom and incentives that make capitalism so productive. Managers see themselves as Prometheus bound, unable to launch a new product or finance research into a tempting field without...
But in Western Europe, where planning within capitalism originated, such government direction has fallen into disfavor. France's Le Plan has operated since 1946, but the program is now virtually ignored; the Eighth Plan, covering 1981-85, will not even contain specific growth targets. In the past, programs directed by...
Like a sailboat tossing about in a wild sea, the government's activities in the economy under capitalism have bounced from one extreme position to another. For more than a century the state had very little or no role in the overall running of the nation's business affairs. When...