Purpose – Since the fall of international communism, there has been a growing interest and a lively discussion on the shape and future of economic systems. Also, global economic crisis has rekindled the debate about the fate of capitalism. The purpose of this paper is to explore various aspects of these issues. It suggests a future for economic activities that combines the humanistic features of socialism and the practicality, functionality and efficiency of capitalism. Design/methodology/approach – The paper uses a logical discussion of the present situation and understanding about the topic and extrapolates them into the future. Findings – Offering a new perspective on the topic, the paper suggests the development of a form of capitalism that is more compassionate and humane. Originality/value – The paper offers a new perspective on capitalism that challenges attention to efficiency‐focused criterion at the expense of other possible criteria.
International Journal of Commerce and Management – Emerald Publishing
Published: Nov 23, 2012
Keywords: Capitalism; National economy; Economics; Future capitalism; Capitalism‐socialism
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