guided capitalism

English

Noun

guided capitalism (usually uncountable, plural guided capitalisms)

1. (economics) A capitalist economic system with some variety of state guidance.
   • 1940, Alfred Mitchell Bingham, The United States of Europe, page 181:

     ... the difference between socialism and a strategically guided capitalism may be slight, particularly if the emphasis on ownership is found irrelevant.

   • 1948, David McCord Wright, Democracy and Progress, page 179:

     It has been called a policy of "guided capitalism," and seeks to "preserve free enterprise" by numerous large-scale adjustments [....]

   • 1951, Joseph Alois Schumpeter, Essays, page 182:

     Therefore, on the understanding that the essence of the bourgeois economy will be absent from the picture, we may call this system Guided Capitalism.

   • 1995, E. Wayne Nafziger, Learning from the Japanese: Japan's Pre-War Development and the Third World, page 53:

     This chapter examines Japan's guided capitalism, which connotes a major state role in spurring private-sector investment and improved technology [....]

   • 2003, Charles Handy, The Elephant and the Flea, page 125:

     He calls it a guided capitalism. I think of it more as corporate capitalism. Singapore is run much as one would run one of the corporate elephants,

Usage notes

• This term should not be expected to be understood widely without a definition.
• Among economists the nature of the guidance would need to be specified, having ranged from activist Keynesian fiscal and monetary policy to dirigisme.

References

• "America Still Wears the Crown." The Economist 5 July 2007. Economist.com. 3 Apr. 2008 [1].
• McVeigh, Brian J. "Postwar Japan's 'Hard' and 'Soft Nationalism.'" Japan Policy Research Institute. Jan. 2001. University of San Francisco. 3 Apr. 2008 [2].