Capitalism's Deniers

Capitalism's Deniers
Bichler, Shimshon and Nitzan, Jonathan. (2019). Real-World Economics Review Blog. 7 January. (Article - Magazine; English).

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A new, capitalism-denying book is on the shelves, and it makes a stunning discovery: ‘Capitalism without competition is not capitalism’! Capitalist crisis, like climate change, tends to breed ‘capitalism deniers’. The problem, argue the deniers, lies not in capitalism but in its ‘distortions’. In its pure form, they maintain, capitalism is the best of all possible worlds. But to the deniers’ chagrin, contemporary capitalism is no longer pristine. Unlike its original, once-upon-a-time version, its current one is subject to distorting ‘imperfections’, ‘shocks’ and ‘exogenous’ events. And it is these aberrations – rather than capitalism itself – that should be blamed for the system’s misfortunes.



Publication Type

Article - Magazine


capitalism competition fundamentalism ideology neoclassical economics


BN Theory
BN Capital & Accumulation
BN Civilization & Social Systems
BN Industrial Organization
BN Institutions

Depositing User

Jonathan Nitzan

Date Deposited

07 Jan 2019 14:34

Last Modified

10 Jan 2019 19:22


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