This interview was conducted by Javier Toro.
Paul Collier , CBE, FBA, is Professor of Economics and Public Policy in the Blavatnik School of Government at the University of Oxford. His latest book is The Future of Capitalism: Facing The New Anxieties.
What do people today decry most from capitalism? Has it been always like that?
It certainly has not always been like that. Capitalism has been going for about two hundred and fifty years, and for most of that time it has enabled rising standards of living for most people. But capitalism today is not working for all; it has had at least three big [...]
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Translation:
The expression "Capitalism" is one of the characteristics of the market economy system, which the Marxists managed to impose as representative of this system, but it is not so, because they obviate others. Conceptually the pillars of the market economy are:1. Private Property of the Production Media.
2. Pricing System
3. Free Competition.
4. Let's make, let go of original French: laissez faire, laissez passer
5. The metaphor of "The Invisible Hand" to express the self-regulatory capacity of the markets.
Translation:
To say that capitalism is only based on the decentralized decision and therefore in the competition is to forget the need to maintain the rate of profit as well as the accumulation processes and to believe that it does not cause the desiffualda and this does not have to do with ethics. The Lord is naive or malevolent, and he also thinks that we are fools.Translation:
very good the magazine