Innovationsim

Another, more descriptive term for Capitalism?

by Skip December 25, 2012

Innovationism: Deirdre McCloskey says somewhere that a better name for capitalism is “innovationism” – innovationism unleashed only in societies in which private property rights are at least reasonably secure, freedom of contract is at least reasonably the norm, markets are at least reasonably free, and (importantly) the multitude of bourgeois merchants and accountants and actuaries […]

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