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Why?A decade ago, there seemed to be a simple formula for getting capitalism established in a country: bring inflation down, stabilise the exchange rate, create capitalist institutions such as a central bank and a stock exchange, and privatise as fast as possible.
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"I was seeking to create capitalists out of people who had no capital," recalls Godsell.
Just as North Korea was embarking on a venture to create a capitalist enclave on its border with China, the Chinese police detained the businessman appointed to run the new zone on suspicion of economic crimes.
Britain has spent 40 years making the burden on business easier, and the results have been to create a capitalist class so sluggish and short-term that it now threatens the continuation of capitalism.
The spread of high-street brands across the West has created a capitalist version of this soulless, befuddling homogeneity.
So far, in fact, its policies have succeeded in creating a capitalist class while leaving the Communist party in control.
Most of Russia's profitable public companies were privatized in the immediate post-Soviet period, creating a capitalist economy and overnight billionaires.
Because it's the pressure to innovate that is created by capitalist competition that leads to technological innovation and more and more capital-intensive production.
Political Control Vs. a Free Market Apart from China, only Vietnam is attempting the acrobatic feat of creating a capitalist economy under the control of a Communist government.
More than 20 years after introducing a brutal, neoliberal economy into a decaying late communist reality and creating a capitalist market, Poland now has a much-desired art market.
In this vast transformation the rise of the market mechanism became crucial as the means by which the new social formation of capitalism ensured its self-provisioning, but the mechanism itself rested on deeper-lying social, cultural, and political changes that created the capitalist order it served.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com