search query: @indexterm Austrian school / total: 12
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| Author: | Pitelis, C. |
| Title: | On the nature of the capitalist state |
| Journal: | Review of Political Economy
1994 : VOL. 6:1, p. 72-105 |
| Index terms: | CAPITALISM ECONOMIC THEORY MARXIAN ECONOMICS AUSTRIAN SCHOOL |
| Language: | eng |
| Abstract: | Three economic perspectives are critically assessed: the neoclassical, the Austrian and the Marxist, on the question of the "nature of the capitalist state". The article addresses in particular the questions of the existence of the state, the state's "principals", the principals' objectives and the growth and evolution of the state, and considers the answers provided by the three perspectives. The article concludes that the capitalist state can be usefully regarded as an institutional device for the exploitation of the specialization and division of labour complementary to markets and firms, which driving force is the furthering of the interests of its principals (a controlling subject of the population), but subject to constraints, such as voting and exit. |
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