The Capitalist or Socialist Dichotomy

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Most arguments comparing capitalist states to socialist states are stupid because no state is purely one or the other. Nor do capitalism and socialism exhaust the possibilities for economic policies.

Links

Beyond Markets and States: Polycentric Governance of Complex Economic Systems [More...]
Elinor Ostrom smacks down the libertaran false dichotomy of state versus market in her Nobel Prize lecture. She discusses how public/private goods, market/government and fully rational individuals fail for analyzing many real-world problems, and presents her Institutional Analysis and Development framework.

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