Capitalism and the Democratic Economy

Social Philosophy and Policy 6 (1):140 (1988)
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Abstract

Mainstream economics evaluates capitalism primarily from the perspective of efficiency. Social philosophy typically applies other or additional normative criteria, such as equality, democracy, and community. This essay examines the implications of these contrasting sets of criteria in the evaluation of capitalism. Its first two sections consider the criteria themselves, assuming that a trade-off exists between them. The last three sections question whether such a trade-off necessarily occurs, and explore the claim that improvements in nonefficiency dimensions of capitalist society may enhance, rather than conflict with, efficiency

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Citations of this work

Efficiency vs. Equality and the Demise of Socialism.Russell Hardin - 1992 - Canadian Journal of Philosophy 22 (2):149 - 161.

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References found in this work

Politics and Markets.Charles E. Lindblom - 1982 - Ethics 92 (4):720-732.
Foundations of Economic Analysis.Paul Anthony Samuelson - 1948 - Science and Society 13 (1):93-95.
The Moral Standing of the Market.Amartya Sen - 1985 - Social Philosophy and Policy 2 (2):1.

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