Alternative Explanations of Reality under Capitalism  Part 2

Alternative Paradigms

Human Nature

Work Incentives

Unit of Analysis

Analysis Based on

Conservative

Humans are naturally unproductive and individualistic Essentially material:
1) positive-raise in income;
2) negative-unemployment		Individuals in society: persons, families, companies, countries Classical and neo-classical economics: competition and individuals maximizing profits without government interferences

Liberal

Humans are naturally unproductive, but of goodwill Essentially material:
1) positive-raise in income;
2) negative-unemployment		 Groups in societyKeynesian* economics: competition and individuals maximizing profits with government involvement in the economy

Radicals

Humans are naturally
productive and cooperative 		None really necessary;
socially valuable rewards		 Classes in society Marxist economics: labor theory of value and surplus value, theory of class struggle, revolution, and power
* The British economist John Keynes (1883-1946), who was one of the architects of the Bretton Woods Conference that designed the post-World War II economic order, said: "Capitalism is the extraordinary belief that the nastiest men for the nastiest of motives will somehow work for the benefit of all."

Popular and academic examples of the three ideological paradigms are also available.
Source: Ingolf Vogeler and Anthony de Souza, editors, Dialectics of Third World Development (New York: Allanheld, Osmun & Co. Publishers, Inc., 1980)

 

Created by Ingolf Vogeler on 7 September 2001; last revised on 08 November 2010.