Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 19 October 2019

Abstract and Keywords

This article argues that the conception and norms of capitalism, in particular the faith that market organization is the best way to govern economic activity, are much more unified and coherent than the actual organization of economic activity in countries that consider themselves capitalist. The latter is marked by great variation in the way different activities and sectors are governed. Although in countries regarded as capitalist market organization plays a powerful role in the governance of many economic activities, there also are many activities that are governed largely through nonmarket mechanisms. It is also argued that few activities or sectors are pure market or nonmarket. Most involve a mix of market and nonmarket elements.

Keywords: capitalists, market organization, economic governance, economic activities

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.