This book rejects the simple equation of capitalism with markets in favor of a three-level system -- a model that recognizes markets are administered by regulators through institutions, and governed by a political authority with the power to regulate behavior, punish transgressors, and redesign institutions.
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This book rejects the simple equation of capitalism with markets in favor of a three-level system -- a model that recognizes markets are administered by regulators through institutions, and governed by a political authority with the power to regulate behavior, punish transgressors, and redesign institutions.
Read Less