EBOOK Oxford Handbook of Capitalism

The financial crisis that began in 2008 and its lingering aftermath have caused        many intellectuals and politicians to question the virtues of capitalist systems.          The 19 original essays in this Handbook, written by leading scholars from Asia,        North America, and Europe, analyze both the strengths and weaknesses of capitalist        systems. The volume opens with essays on the historical and legal origins of        capitalism. These are followed by chapters describing the nature, institutions, and        advantages of capitalism: entrepreneurship, innovation, property rights, contracts,        capital markets, and the modern corporation. The next set of chapters discusses the        problems that can arise in capitalist systems including monopoly, principal agent        problems, financial bubbles, excessive managerial compensation, and empire building        through wealth-destroying mergers. Two subsequent essays examine in detail the        properties of the "e;Asian model"e; of capitalism as exemplified by Japan and South        Korea, and capitalist systems where ownership and control are largely separated as        in the United States and United Kingdom. The handbook concludes with an essay on        capitalism in the 21st century by Nobel Prize winner Edmund Phelps.