Reviews work by Lester C. Thurow on need for reform of capitalism in post-communist global economy.
Capitalism, the economic system and social order which governs the United States, has survived communism and fascism to become the only viable system currently in operation in the world. There are a number of reasons for this, but Lester C. Thurow suggests that capitalism as we know it must also undergo significant alteration in order to meet the needs of the new world order. This research considers Thurow’s argument as put forth in the Future of Capitalism.
What is Capitalism?
Two features distinguish capitalism as a system, and are key to understanding how it functions. First, some people own the means of production, the factories and offices, the tools and equipment, the financial capital for investment, while others (workers) sell their labor…