Competing models of capitalism and the reorganization of world economy after the financial crisis

Abstract

Abstract: The international economic system is threatened, not only by the economic effects of the financial crisis, but also by the different interpretations on how the system should be reorganized. The different views are based on divergent models of capitalism and pose various ways of formulating state intervention in the market economy. We consider three models of capitalism as relevant in current discussion: "deregulated market economy", "state capitalism", and "social market economy". The main objective of the article is to evaluate these systems and their impact on the debate on the reorganization of the international economic system.