Abstract
Many people consider that capitalism is defined by the existence of markets. But markets exist in primitive, feudal, fascist, and socialist societies. Capitalism is better described and identified by the existence of private negotiable property rights. Such rights are not widely available in the type of market economies referred to above.
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© 2014 Shann Turnbull
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Turnbull, S. (2014). What Defines Capitalism? What Is Wrong with It and How to Fix It?. In: Pirson, M., Steinvorth, U., Largacha-Martinez, C., Dierksmeier, C. (eds) From Capitalistic to Humanistic Business. Humanism in Business Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137468208_10
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DOI: https://doi.org/10.1057/9781137468208_10
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