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Rethinking the concept of freedom in contemporary capitalism

Capussela, Andrea Lorenzo (2018) Rethinking the concept of freedom in contemporary capitalism. LSE Business Review (03 Nov 2018). Blog Entry.

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Abstract

In a forthcoming book, Branko Milanović identifies four ‘troublesome features’ in ‘meritocratic liberal capitalism’.* These are the rising share of capital income in total income, which undermines meritocracy; the very high concentration of capital income, which runs counter to the objective of a ‘property-owning’ democracy; the rising association of high capital and labour incomes in the same people or families, which exacerbates inequality and hinders attempts to curb it; and the polarisation of society, shown by the declining share and purchasing power of the middle classes, which destabilises democracy and threatens to turn it into a plutocracy or a populist regime.

Item Type: Online resource (Blog Entry)
Official URL: https://blogs.lse.ac.uk/businessreview/
Additional Information: © 2018 The Author(s)
Divisions: LSE
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Date Deposited: 10 May 2021 13:42
Last Modified: 23 Jul 2021 23:03
URI: http://eprints.lse.ac.uk/id/eprint/110414

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