Africa: Why Capitalism Wins. and How a Simple Accounting Move Can Defeat It

analysis

Notwithstanding its many flaws and centuries of criticisms, capitalism is still the dominant economic system globally. What made it so resilient?

Without denying the importance of entrenched interests among ruling classes, I believe the real strength of capitalism stems from the theory of value it has imposed on society. The theory can be summed up as follows: value is only created through market transactions, which are always positive for the economy. The rest - like social costs and ecological impacts - doesn't matter.

...

Tagged:

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.