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Series:   Elements in Reinventing Capitalism

Comparing Capitalisms for an Unknown Future

Societal Processes and Transformative Capacity

Published online by Cambridge University Press:  11 August 2023

Gordon Redding
Gordon Redding
Affiliation:
King's College London

Summary

Systems of capitalism are conceived as formed under certain broad logics that apply to all, but which then interpret those logics in distinct ways society by society, seen as the society's own processes. Such processes cluster into three categories: an inspiring context; a transformative capacity; and empowered action. The political role is that of balancing the influences across the total. Each inspirational influence adds a key contribution, as with benevolent empowering authority, and critical thinking. Transformative capacity is built by: innovativeness and cooperativeness; and stable decentralized authority flows from communicative action, spontaneous emergent ordering; and competitive productivity. Societal progress may be explained in terms of the integrated workings of these processes to yield an ethically legitimate structure for the prosperity-driven creating and distributing of wealth. Two main stereotypes are examined to compare their workings and their outcomes: the Western free market democratic, and the Chinese party-state driven.
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Keywords

progressbenevolencetransformationknowledgeempowerment
Type
Element
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Series: Elements in Reinventing Capitalism
Online ISBN: 9781009303019
Publisher: Cambridge University Press
Print publication: 07 September 2023

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