Capitalism, economic growth & democracy

Economic Growth, Capitalism and Unknown Economic Paradoxes

The paper deals with failures of capitalism or free market and presents the results of economic analysis by applying a logistic capital growth model. The application of a logistic growth model for analysis of economic bubbles reveals the fundamental causes of bubble formation—economic paradoxes related with phenomena of saturated markets: the paradox of growing returnability and the paradoxes o...

Capitalism and Democracy*

Capitalism, Democracy and Ralph's Pretty Good Grocery

alph's Pretty Good Grocery, for those like me who miss popular culture allusions, is a fictional shop in the imaginary Minnesota town of Lake Wobegon, a place invented by the humorist Garrison Keilor. Its slogan is 'If you can't get it at Ralph's, you can probably get along without it'. For political scientist John Mueller, this slogan sums up capitalism and democracy. They may not supply every...

Venture Capitalism, New Markets and Innovation- Led Economic Growth

1 Cristiano Antonelli acknowledges the funding of the European Union Directorate for Research, within the context of the Integrated Project EURODITE (Regional Trajectories to the Knowledge Economy: A Dynamic Model) Contract nr° 006187 (CIT3), in progress at the Fondazione Rosselli. Morris Teubal acknowledges the funding and support of ICER (International Center for Economic Research) where he w...

Does Democracy Facilitate Economic Growth or Does Economic Growth Facilitate Democracy? an Empirical Study of Sub-saharan Africa

Abstract This paper examines the relationship between democracy and economic growth in 30 Sub-Saharan African countries. As our proxy for democracy we first use the democracy index constructed by Freedom House and then check the sensitivity of our findings using, as an alternative proxy for democracy, the Legislative Index of Electoral Competitiveness (LIEC). We find support for the Lipset hypo...