Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/179274
Authors: 
Faber, Malte
Petersen, Thomas
Year of Publication: 
2018
Series/Report no.: 
Discussion Paper Series 645
Abstract: 
Since the beginning of the finance crisis, the notion of capitalism and the adjective capitalistic are more and more employed in public discourse without making an attempt to define it. In contrast, the concept of market economy is less used. We try in this paper to differentiate both concepts by going back to the approaches by Karl Marx (1818-1883) and Fernand Braudel (1902-1985). Marx does not use the term capitalism but only capitalistic production, while Braudel argues on the basis of a wealth of empirical evidence that one has to differentiate between capitalism and market economy, because he sees a contrast between them. For this reason, he has different view of a capitalistic economy as Marx has.
Subjects: 
capitalism
capitalistic production
market economy
political economy
JEL: 
B14
B24
P10
P16
P5
Persistent Identifier of the first edition: 
Document Type: 
Working Paper
Social Media Mentions:

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