MODELS OF CAPITALISM

INTRODUCTION
United States, German and Japan have developed to be the most significant economic powers of the world. This document will discuss the key similarities and differences of these three systems as well as the strengths and weaknesses. Their power to adapt successfully to change is without a doubt an important measure when considering the chance of their survival. At the same time, we have to keep in mind the very basis of what provides capitalism is its essence, as Raymond Aron tells us (Dahrendorf, 1967):
" A capitalist system requires […] that the means of production are the object of individual appropriation; […] that the steering of the economy is decentralized and occurs on the market, [but also] that wage labour [be present] […] the predominant motive [being] the profit motive "

SIMILARITIES AND DIFFERENCES BETWEEN US, GERMAN AND JAPANESE MODELS OF CAPITALISM

US AND GERMAN MODELS
US and German models share a broad acceptance of free trade, market determi...