Book Chapter
The Myth of Anglo-Saxon Capitalism

This chapter deals with the Anglo-Saxon capitalism wherein a state requires fewer taxes and has fewer regulations but also offers less service. The authors criticises this kind of capitalism as only a myth, for the United States itself has extensively intervened not only within its economy but with the world economy. The authors further claim that the United States economy is controlled by too many state actions. As provided for in the preceding chapter, according to the authors, the state must be a good entrepreneur which the United States employed in order to transform itself from a catch-up economy into an economic leader. Furthermore, institutions must be created in order to match new structures and as other developing countries are starting to challenge United States' dominance in the global economy.