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Capitalism is an economic system in which the means of production and distribution are privately or corporately owned and the operations are funded by profits.
Varieties of capitalism:
a. Liberal democratic: 'seeks to maximise economic autonomy, combine this with democratic governance and minimise the role of the state' (76).
b. Social democratic: ''seeks to balance the market, the state and democracy' (76).
c. Competitive authoritarian: 'favours state control over the market and constrains democratic governance' (76).
d. State bureaucratic: 'attempts a complex, fluid mix of state ownership and market relations, while rejecting democratic governance outright' (76).
(Discuss how the concept assists us in understanding the changing nature of work and/or employment). *provide short answer.
(Work in Global Society BUSM4559)
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