Originally posted by vivify
I don't want to specify. Specifying a form of capitalism could lead this thread in too many directions. For example, if I say regulated capitalism, surely someone will point, as you mentioned, all the times loopholes were exploited, and thus, wasn't truly regulated, or some tangent like that. Or, someone may point out some country in which regulation is m ...[text shortened]... ldn't be anywhere near as advanced without capitalism as a drive to bring such technology about.
OK. I have a problem pulling capitalism out of its context and seeing it as a central causal force -- it seems more like a stage of cultural evolution. The History of Capitalism Wikipedia entry has this:
Quote:
Stages of Capitalism
It is an ongoing debate within the fields of economics and sociology as to what the past, current, and future stages of capitalism consist of. While ongoing disagreement about exact stages exists, many economists have posited the following general states.
Agrarian capitalism, sometimes known as market feudalism. This was a transitional form between feudalism and capitalism, whereby market relations replaced some but not all of feudal relations in a society.
Mercantilism, where national governments sought to maintain positive balances of trade and acquire gold bullion.
Industrial Capitalism, characterized by its use of heavy machinery and a much more pronounced division of labor.
Monopoly Capitalism, marked by the rise of monopolies and trusts dominating industry, as well as other aspects of society. Often used to describe the economy of the late 19th and early 20th century.
Colonialism, where governments sought to colonize other areas to improve access to markets and raw materials, and improve the standing of nationally based capitalist firms. Predominant in the 1890s, notably as a response to the economic crises of the 1890s.
Welfare Capitalism, where mixed economies predominated and governments sought to provide a safety net to alleviate the worst abuses of capitalism. The heyday of welfare capitalism (in advanced economies) is widely seen to be from 1945–1973, as major social safety nets were put in place in most advanced capitalist economies.[49]
Mass Production, post-World War Two, saw the rising hegemony of major corporations, and a focus on mass production, mass consumption, and (ideally) mass employment. This stage sees the rise of advertising as a way to promote mass consumption, and often sees significant economic planning taking place within firms.[50]
State Capitalism, where the state intervened to prevent economic instability, including partially or fully nationalizing certain industries. Some economists characterize the economies of the USSR and the Eastern Block to have fallen in this category as well.
Corporatism, where government, business, and labor collude to make major national decisions; notable for being an economic model of fascism; can overlap with, but is still significantly different from state capitalism.
Financialization, or financial capitalism, where financial parts of the economy (like the finance, insurance, or real estate sectors) predominate an economy. Profit becomes more derived from ownership of an asset, credit, rents, and earning interest, rather than actual productive processes.[51][52]