Justifying and Criticizing the Capitalist Market Economy: A Typology of Legitimation Criteria.

Frank Nullmeier & Dominika Biegoń (2017)

In: Schneider, Steffen/Schmidtke, Henning/Haunss, Sebastian/Gronau, Jennifer (eds.)(2017) Capitalism and Its Legitimacy in Times of Crisis. Cham: Palgrave MacMillan, pp. 37-60.

Abstract. Based on a review and extension of extant classifications, Chapter 2 by Frank Nullmeier and Dominika Biegoń develops a typology of arguments for justifying and criticizing the capitalist market economy in economic and social science writing. Nullmeier and Biegoń show that four groups of legitimation criteria – ‘classical’ criteria going back to Adam Smith and Karl Marx as well as justice-, democracy- and culture-centred arguments and normative ideas – may be distinguished both in procapitalist and in anticapitalist thought and discourse. Their typology of criteria underpins the empirical analyses of the volume.

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