By Andreas G. Papandreou
Paternalistic Capitalism used to be first released in 1972. Minnesota Archive versions makes use of electronic know-how to make long-unavailable books once more obtainable, and are released unaltered from the unique college of Minnesota Press editions.
The distinct economist and Greek political chief provides right here a strong critique of yank capitalism and its dating to executive and international coverage. Dr. Papandreou first examines the orthodox view of the modern capitalist financial system and the "myth of marketplace capitalism" which it has engendered. He then considers the Neo-Marxist view that the economic system can top be understood as monopoly capitalism, and the technocratic interpretation of society proposed by way of J. okay. Galbraith. Dr. Papandreou accepts and rejects numerous features of those interpretations, and strikes to outline the salient positive aspects of what he calls paternalistic capitalism, in which privatized decentralized making plans more and more is performed by way of the company managerial elite, within the curiosity no longer of the patron, yet of the "system." The paternalism is that of the autocratic titanic brother.
The writer then explores the connection among the managerial elite and the instrumentalities of the kingdom, and claims that subsequent to the managerial elite stand the nationwide defense managers—not accidentally, for paternalistic capitalism is aggressively expansionist, as is mirrored within the overseas coverage of the capitalist city, the us. the worldwide element of paternalistic capitalism is additional delineated in Dr. Papandreou's dialogue of the "new mercantilism" and of the institutional equipment of the multinational company. ultimately, he considers in brief alternatives—the Soviet test, which he rejects as paternalistic socialism, and a imaginative and prescient of a locally decentralized society, during which guy will keep an eye on instead of be on the mercy of his social environment.
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Extra info for Paternalistic capitalism
Thus, in making a decision, an oligopolist must take account of his competitors' reaction to his moves. This is characteristically, then, a situation to be understood in terms of games of strategy. The arsenal of each oligopolist includes price, quality of product, advertising, control of marketing channels, and so forth. How these weapons will be used by an oligopolist depends on his strategy—an aggressive, cutthroat strategy or a cooperative, live-and-let-live, collusive one. The former is exemplified by price wars among oligopolists intended to lead to a reallocation of shares of the market among the survivors.
125-127. 39 PATERNALISTIC CAPITALISM vant to it. Expurgated and anemic, it throws more light on the performance of an ideal society of shopkeepers than on contemporary capitalism. To extend, unwittingly or not, the analytical conclusions of a model best fitted for the study of a shopkeeper society to present-day capitalism is probably the supreme form of ideological bias. 40 A Neo-Marxist View of the Capitalist Metropolis If contemporary capitalism is not a society of competing shopkeepers, then what is it?
The objective in this case ought to be not only to break up the monopolies, but indeed to eliminate every vestige of monopoly power. Such a frontal attack on monopoly, however, is sure to destroy the institutional basis of capitalism. For it would be necessary, first, to eliminate all trademarks, tradenames, and advertising; and second, to break up all firms whose share of market is large enough to give them some influence over the product's price. It is certain, of course, that in many cases the large size of the firms would be justifiable on grounds of technological efficiency.
Paternalistic capitalism by Andreas G. Papandreou