'Post-Covid Economy Beyond Capitalism'

The corona crisis has made it extra clear that capitalism is only one way the market can take form. It can also be quite different. What follows is a plea for a post-corona economy in which the market is once again embedded in the community and can be better regulated by the state.

In this article entitled 'Post-Covid Economy Beyond Capitalism', Professor Irene van Staveren considers what the economic theories of Karl Marx and Adam Smith tell us about the viability of a the market in a post-capitalist economy.

She asks 'What exactly is capitalism anyhow, and how can it be distinguished from the market?' According to both Smith and Marx, capitalism is a certain expression of the market and cannot be equated with the concept of the market itself. The market can therefore also be envisioned differently – for example in a post-capitalist economy, an economy that no longer displays the specific characteristics of capitalism.