Capitalist confidence and electability from Lang to Rudd and Obama

The recent debate about the Resources Super Profits Tax revives an old argument about whether or not capitalists have a veto power over governments due to the alleged linkage between business investment, economic activity and the likelihood of re-election. Critics of capitalism once favoured this argument (and conservatives opposed it) but now with the demise […]

Oliver Williamson and American liberalism

Lecturing recently in Modern Political Ideologies I observed that classical liberalism are not entirely incompatible, classical liberals were concerned about workers’ subordination in the production process and about the rise of corporate capitalism. Currently rereading Oliver Williamson’s The Economic Institutions of Capitalism, doubly appropriate because of his recent Nobel Prize in economics. An interesting milestone […]