By Adolfo Figueroa
Centuries of financial progress have proven that the capitalist method is
technologically very innovative; socially, despite the fact that, it's not so. Inequality is certainly one of the
persistent positive aspects of global capitalism. Why does the capitalist process function in this
The present paradigm in economics has made major growth in explaining
capitalism; despite the fact that, there are a few proof that the paradigm can't clarify, because it will be
shown during this e-book. the present paradigm might be outlined because the rules that are
contained within the collage textbooks which are utilized in economics classes round the
world; hence, its effect on public rules is gigantic. these rules are
based on neoclassical and Keynesian fiscal theories, one for the longer term and the
other for the fast run research of capitalism. either theories should be known as standard
economics during this book.
This booklet provides a brand new fiscal idea of the capitalist method. This new
theory could be in a position to clarify the evidence that normal fiscal may also clarify; yet it
will additionally clarify these proof that normal economics cannot.
In order to introduce the reader to this new view progressively, the rules of
the new idea should be awarded step-by-step during this creation. This advent may
then be obvious because the synopsis of a play in regards to the nature of social kinfolk in a capitalist
society, so that it will then be built totally within the book.
Adolfo Figueroa, a Peruvian economist …has written a breathtakingly bold book.
Physics continues to be suffering to combine in one unified concept the insights of general
relativity and quantum idea. Figueroa goals not just to construct partial types able of
explaining diversified elements of the capitalist process, but additionally a unified version from which
each of those distinctive circumstances could be derived. The reader must be very
blinkered to not agree that Figueroa is directly to anything very important. Figueroa merits to
be learn, and in an incredible international this publication could develop into required interpreting for economics
students during the global.
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Additional resources for A Unified Theory of Capitalist Development (Enlarged and Revised Edition)
Assets are goods that provide a flow of incomes. People exchange goods in the form of market exchange. Market exchange is a particular mechanism for exchange of goods among individuals and is subject to some rules, which include: (a) It is voluntary. (b) It is based on the motivation of self-interest, which implies that people seek to take advantage of every exchange possibility to make economic gains for their own benefit. (c) It is constrained by the individual‘s endowments of economic assets only, which means freedom of exchange, absence of social or legal restrictions.
2. It is shown there that the average income of the First World is much higher than that of the Third World with strong colonial legacy, whereas the Third World with weak colonial legacy lies in between. This result is just confirming our definitions: the richest countries are called First World and the poorest countries Third World, as an objective way of describing this ranking. The degree of income inequality between individuals will be measured by the Gini index, which varies between zero and one.
But China is not a capitalist country even today and cannot be introduced into a theoretical system that assumes the capitalist form of production and distribution. China‘s economic growth has increased the size of world output and international trade, but it has not changed the rules under which capitalist countries operate. So China can safely be ignored in the analysis of capitalism over the past six decades. However, in the analysis of capitalism, the phenomenon of China‘s rapid growth will be taken into account, but as an exogenous factor.