• Bruce Scott


Capitalism: Its Origins and Evolution as a System of Governance, Bruce Scott, 2011, Book. "Capitalism, as defined in this book, is an indirect, three-level system of governance for economic relationships (i.e., economic, administrative, and political). Whereas economic markets can coordinate supply and demand within an existing system thanks to the invisible hand of the pricing mechanism, capitalism must have the administrative capability to regulate the behavior of economic actors within those markets and the political capability to redesign their institutions; regulation and the design of market frameworks require the visible hand..." Link