Publication

The US model of free market capitalism has been the dominant economic model in the post-Cold War period. However, this supremacy was severely shaken by the 2008 financial crisis and the emergence of new models of capitalism based on greater state involvement, as practiced in Brazil, Russia, India and China. In this article, the author argues that this new model of capitalism is not necessarily a threat to the neoliberal economic order but rather that the heterogeneity of capitalism means that open trade, competitive markets and open investment can function in a number of guises.