The Coming Meltdown of Traditional Capitalism [Abstract]
Ethics & International Affairs, Volume 2 (1988)
December 2, 1988
Heilbroner challenges the concept that capitalism is purely an economic system and asserts it is rather a regime informed by social and political forces. The relentless pursuit of capital is the process" by which the social order manifests its historical vigor."Within the regime of capitalism two realms of power and authority, the state and the economy, exist in a dialectic marked, in normal circumstances, by the concession of the incomparably more powerful state to the current interest of capital. However, the rise of international capitalism has changed this dynamic. Heilbroner describes this historical movement and ponders what capitalism will look like after its traditional form gives way.
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