The Rise of Market Forces
Abstract
Major changes in the international environment can come about through two different processes: the gradual accumulation of small changes or abrupt and sharply discontinuous events. The gradualism of the first process often belies the depth and breadth of the accumulated changes. The rise of market forces around the world in the past decade has illustrated this phenomenon. We might more accurately describe the phenomenon as the rediscovery of the power and value of market forces, because market forces held sway in the industrialized world from the end of the eighteenth century until the growth of Marxism, Fabian socialism, and social democracy in the mid-twentieth century. The gradual revival of interest in and recognition of market forces has made the international economic landscape of the 1990s fundamentally different from that of prior decades. (KR)
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 1988
- Accession Number
- ADA216920
Entities
People
- Charles Wolf, Jr
Organizations
- RAND Corporation