Social capitalism (Socio-capitalism)
Social capitalism (Socio-capitalism), as a theory or political or philosophical stance, challenges the idea that the goals of socialism and the existing system of capitalism are inherently antagonistic.[1] The essence of social capitalism is that markets work best and output is maximized through sound social management of the macroeconomy. Social capitalism posits that a strong social support network for the poor enhances capital output. By decreasing poverty, capital market participation is enlarged. Social capitalism also posits that government regulation, and even sponsorship of markets, can lead to superior economic outcomes, as evidenced in government sponsorship of the internet or basic securities regulation.[2]
In early 2009, Australian Prime Minister Kevin Rudd called for a new economic approach that he termed "social capitalism" which includes "a system of open markets, unambiguously regulated by an activist state, and one in which the state intervenes to reduce the greater inequalities that competitive markets will inevitably generate."[3]
The scholarly roots of social capitalism seem to be in Kees van Kersbergen's landmark study of European economies, entitled Social Capitalism: A Study of Christian Democracy and the Welfare State.[4] Van Kersbergen identifies social capitalism as the "common kernel" of the European welfare state and situates social capitalism as a "middle way" between socialist collectivism and neo-liberal individualism.[5] The text of Kees van Kersbergen's "Social Capitalism" is available on google books.[6]
Another exposition of social capitalism is Robert Corfe's three volume set entitled Social Capitalism: In Theory and Practice.[7] Corfe's vision of social capitalism is fully consistent with the above sources: he decries "untrammelled capitalism;" he calls for policy based upon empirical evidence instead of the ideological speculation; and he views a core value of social capitalism "to realise the full potential of those from every background according to their ability and inclination." He therefore "repudiates any measures influenced by class bias."[8]
Concurring with the recession beginning in 2008, increased activity of the terms Social capitalism and "socio-capitalism" occurred on the internet and in the blogosphere.[9][10][11][12][13][14] [15]
Other references to Social capitalism support the essential theory that socialism and capitalism are not antagonistic theories.[16][17][18][19][20][21][22]
Social capitalism as described in this article is not directly related to the notion of social capital as popularized by Robert Putnam and James S. Coleman.
http://en.wikipedia.org/wiki/Social_capitalism
Social capitalism (Socio-capitalism), as a theory or political or philosophical stance, challenges the idea that the goals of socialism and the existing system of capitalism are inherently antagonistic.[1] The essence of social capitalism is that markets work best and output is maximized through sound social management of the macroeconomy. Social capitalism posits that a strong social support network for the poor enhances capital output. By decreasing poverty, capital market participation is enlarged. Social capitalism also posits that government regulation, and even sponsorship of markets, can lead to superior economic outcomes, as evidenced in government sponsorship of the internet or basic securities regulation.[2]
In early 2009, Australian Prime Minister Kevin Rudd called for a new economic approach that he termed "social capitalism" which includes "a system of open markets, unambiguously regulated by an activist state, and one in which the state intervenes to reduce the greater inequalities that competitive markets will inevitably generate."[3]
The scholarly roots of social capitalism seem to be in Kees van Kersbergen's landmark study of European economies, entitled Social Capitalism: A Study of Christian Democracy and the Welfare State.[4] Van Kersbergen identifies social capitalism as the "common kernel" of the European welfare state and situates social capitalism as a "middle way" between socialist collectivism and neo-liberal individualism.[5] The text of Kees van Kersbergen's "Social Capitalism" is available on google books.[6]
Another exposition of social capitalism is Robert Corfe's three volume set entitled Social Capitalism: In Theory and Practice.[7] Corfe's vision of social capitalism is fully consistent with the above sources: he decries "untrammelled capitalism;" he calls for policy based upon empirical evidence instead of the ideological speculation; and he views a core value of social capitalism "to realise the full potential of those from every background according to their ability and inclination." He therefore "repudiates any measures influenced by class bias."[8]
Concurring with the recession beginning in 2008, increased activity of the terms Social capitalism and "socio-capitalism" occurred on the internet and in the blogosphere.[9][10][11][12][13][14] [15]
Other references to Social capitalism support the essential theory that socialism and capitalism are not antagonistic theories.[16][17][18][19][20][21][22]
Social capitalism as described in this article is not directly related to the notion of social capital as popularized by Robert Putnam and James S. Coleman.
http://en.wikipedia.org/wiki/Social_capitalism
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