The subtitle of Frederic Jameson's Postmodernism describes the "cultural logic of" the "late" form of this economic system.
The subtitle of Frederic Jameson's Postmodernism describes the "cultural logic of" the "late" form of this economic system. Joseph Schumpeter called the perpetual rising and declining of industries in this system "creative destruction." Keynes's contention that the liquidity preference could lead to indefinite equilibria in this system despite high unemployment was criticized in the development of supply-side economics. Veblen's theory of conspicuous consumption challenged the neoclassical theory of it as an efficient system. The ideology of ascetic Protestantism was used by Max Weber to trace the evolution of its "Spirit." For 10 points, name this economic system, based on private ownership and labor for profit, often contrasted with "communism."
The subtitle of Frederic Jameson's Postmodernism describes the "cultural logic of" the "late" form of this economic system.
capitalism