The state and the economy under capitalism

Adam Przeworski

    Research output: Book/ReportBook

    Abstract

    Capitalism is a system in which scarce resources are owned privately. Yet under capitalism property is institutionally separated from authority. As a result, there are two mechanisms by which resources are allocated to uses and distributed to households: the market and the state. In the market, productive resources - capital, land, labor capacities - are allocated by their owners and the distribution of consumption results from decentralized interactions. Yet the state can also allocate and distribute and it can act on those same resources that constitute private property. Not only can states tax and transfer but they can regulate the relative costs and benefits associated with private decisions. Thus, inherent in capitalism is a permanent tension between the market and the state.

    Original languageEnglish (US)
    PublisherTaylor and Francis
    Number of pages126
    ISBN (Electronic)9781317833062
    ISBN (Print)9781315823836
    DOIs
    StatePublished - Jun 3 2014

    Fingerprint

    Capitalism
    Resources
    Private property
    Labor
    Interaction
    Owners
    Tax
    Costs and benefits
    Authority
    Household

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance(all)
    • Business, Management and Accounting(all)

    Cite this

    The state and the economy under capitalism. / Przeworski, Adam.

    Taylor and Francis, 2014. 126 p.

    Research output: Book/ReportBook

    Przeworski, Adam. / The state and the economy under capitalism. Taylor and Francis, 2014. 126 p.
    @book{04df89d905094a0f8998d162343dcd8e,
    title = "The state and the economy under capitalism",
    abstract = "Capitalism is a system in which scarce resources are owned privately. Yet under capitalism property is institutionally separated from authority. As a result, there are two mechanisms by which resources are allocated to uses and distributed to households: the market and the state. In the market, productive resources - capital, land, labor capacities - are allocated by their owners and the distribution of consumption results from decentralized interactions. Yet the state can also allocate and distribute and it can act on those same resources that constitute private property. Not only can states tax and transfer but they can regulate the relative costs and benefits associated with private decisions. Thus, inherent in capitalism is a permanent tension between the market and the state.",
    author = "Adam Przeworski",
    year = "2014",
    month = "6",
    day = "3",
    doi = "10.4324/9781315823836",
    language = "English (US)",
    isbn = "9781315823836",
    publisher = "Taylor and Francis",

    }

    TY - BOOK

    T1 - The state and the economy under capitalism

    AU - Przeworski, Adam

    PY - 2014/6/3

    Y1 - 2014/6/3

    N2 - Capitalism is a system in which scarce resources are owned privately. Yet under capitalism property is institutionally separated from authority. As a result, there are two mechanisms by which resources are allocated to uses and distributed to households: the market and the state. In the market, productive resources - capital, land, labor capacities - are allocated by their owners and the distribution of consumption results from decentralized interactions. Yet the state can also allocate and distribute and it can act on those same resources that constitute private property. Not only can states tax and transfer but they can regulate the relative costs and benefits associated with private decisions. Thus, inherent in capitalism is a permanent tension between the market and the state.

    AB - Capitalism is a system in which scarce resources are owned privately. Yet under capitalism property is institutionally separated from authority. As a result, there are two mechanisms by which resources are allocated to uses and distributed to households: the market and the state. In the market, productive resources - capital, land, labor capacities - are allocated by their owners and the distribution of consumption results from decentralized interactions. Yet the state can also allocate and distribute and it can act on those same resources that constitute private property. Not only can states tax and transfer but they can regulate the relative costs and benefits associated with private decisions. Thus, inherent in capitalism is a permanent tension between the market and the state.

    UR - http://www.scopus.com/inward/record.url?scp=85066452724&partnerID=8YFLogxK

    UR - http://www.scopus.com/inward/citedby.url?scp=85066452724&partnerID=8YFLogxK

    U2 - 10.4324/9781315823836

    DO - 10.4324/9781315823836

    M3 - Book

    AN - SCOPUS:85066452724

    SN - 9781315823836

    BT - The state and the economy under capitalism

    PB - Taylor and Francis

    ER -