'Liberal' capitalism or crony capitalism?Liberal (or neoliberal) capitalism, proposed and imposed without alternative solutions, is based on seven principles, which are considered to be valuable for all societies of the globalised world.
*The economy must be managed by private companies as they alone conduct themselves naturally as agents operating under the demands of open competition. This is in fact beneficial to society and ensures economic growth based upon the rational allocation of resources and the fair remuneration of all elements of production - capital, labour and natural resources. Consequently, if as an unfortunate legacy of 'socialism' any assets such as productive enterprises, financial institutions, urban or agricultural land are owned by the state, they must be privatised.