mODELS OF CAPITALISM

its own song and develop according to its own distinctive historical rhythm. The key question now is what type of capitalism will prevail? Aristotle argued that virtue lay in a mean between two vices, and since the Enlightenment, most democratic nations have sought, consciously or otherwise, to maintain a balance between collective action and individual liberty; between co-operation in the pursuit of public goods and the creative power. It aims at maximizing the profits of the company. Who pays for the employee's skill trainings and their further improvement? The social market economy in the German case has demonstrated its effectiveness and we can say with certainty that it provides a more technical, civilized, economic and social progress than any other less free and socially-oriented economic structures. What are the main sources for investment of the firms? Each country needs to find its own path to economic efficiency, regardless of how full a participant it is in the global economy of tomorrow. It is necessary to observe and improve the personal non-property and moral rights in the process of economic activities.

MODELS OF CAPITALISM
mODELS OF CAPITALISM

There must be a balance between commitment and flexibility and between public and private goods. the German model relies in many areas on non-market coordination, supplemented by a generous system of welfare protection. One key divergence relates to the level of social protection and the structure of labour markets. This paper focuses on two most common and typical models of capitalism used in modern conditions: Anglo-Saxon and German models. There are, of course, some hybrid systems such as the French, but for reasons of brevity, this article will concentrate on a schematic comparison between the archetypal German and US models. Thus, unions act as the representatives of the working class and respect their interests. Organisational structures, too, have a profound impact on economic efficiency, depending on the extent to which they enable, for example, co-operative innovation and teamwork.



mODELS OF CAPITALISM

There are a lot of classifications of capitalistic models in the todays world, made by different scientists.
When we look more closely at the differences between Anglo- Saxon and Rhenish models of capitalism, the leitmotif of freedom of the sea: trade and plunder.