ABSTRACT
In all the Organization for Economic Cooperation and Development national states the dominant form of economic organisation is capitalistic; that is, according to neoclassical economic theory, they are competitive enterprise economies in which economic agents make contracts which involve the buying and selling of goods and services. Capital used by entrepreneurs may be raised in a whole series of different ways, legally creating a series of different rights for lenders and different obligations for the entrepreneurs. The market is the most just and effective regulator of economic conduct. In general, state intervention in the economy poses tremendous dangers to the working of market rationality. Neoliberal theory ultimately presupposes that individuals and organizations as autonomous entities are free to make contracts or to not make contracts and hence any contracts that are made are consensually produced. The development of competitive markets in all areas of economic activity may undermine the ability of the economic system as a whole to function efficiently.
