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Capatliism - Coggle Diagram
Capatliism
Pillars
private property
self-interest
competition
market mechanism that determines prices in a decentralized
limited role of government
freedom to choose
Various types
state-guided capitalism
Oligarchic capitalism
Big-firm capitalism
Entrepreneurial capitalism
various forms
liberal market economies
Coordinated market economies
John Maynard Keynes
Critique
“save capitalism from the capitalists”
oppose government intervention
Recession
Cut taxes, increase government spending
Smith’s invisible hand
Unintentional
Benefit society a a whole
Good growth
inequality
self-interest = economic prosperity