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The second volume of The Cambridge History of Capitalism provides an authoritative reference on the spread and impact of capitalism across the world, and the varieties of responses to it. Employing a wide geographical coverage and strong comparative outlook, a team of leading scholars explore the global consequences that capitalism has had for industry, agriculture, and trade, along with the reactions by governments, firms, and markets. The authors consider how World War I halted the initial spread of capitalism, but global capitalism arose again by the close of the twentieth century. They explore how the responses of labor movements, compounded by the reactions by political regimes, whether defensive or proactive, led to diverse military and welfare consequences. Beneficial results eventually emerged, but the rise and spread of capitalism has not been easy or smooth. This definitive volume will have widespread appeal amongst historians, economists, and political scientists.
It is said that a little knowledge is a dangerous thing. It is a
time honored cautionary statement that has suddenly acquired a new
urgency. A little knowledge is dangerous, because as a force for
dramatic change, knowledge today is revolutionary. More is known
and being learned everyday than was ever known or learned before.
As a direct result, the pace of change-and that means change in the
sense of everything from business to economics, science, medicine,
and politics-is beginning to accelerate much more rapidly than ever
before in mankind's history.
A much-needed, indispensable volume for anyone involved in the social services or human services field, Pressing Issues of Inequality and American Indian Communities supplies you with vital information that will assist you in offering culturally sensitive services to your clients. You will gain a new perspective from the blending of traditional academic research with the voices of those most intimately affected. From Pressing Issues of Inequality and American Indian Communities, you will learn proven methods that will help you offer successful and effective services to your Native American clients.Pressing Issues of Inequality and American Indian Communities reveals the stark realities facing American Indian people today. Through this compelling book you will gain new insight into the challenges presented to Native Americans and how to help your clients face these challenges by: learning how to assist American Indian families through an increased understanding of the new time-limited welfare assistance that generally only impacts them if they live off the reservation examining how poverty and a lack of infrastructure and social services exacerbates the problems Navajo women face when leaving violence in their homes using the positive power of language through case examples of American Indian women to understand how stories and their implications change significantly depending on if they are interpreted from a deficit or strength perspectiveFrom the information in Pressing Issues of Inequality and American Indian Communities, you will gain new insight into specific problems facing American Indian people, including welfare reform 's devastating effects on American Indians trying live off the reservation and the impact of reservation isolation on domestic violence. The information in Pressing Issues of Inequality and American Indian Communities will help you provide culturally sensitive services to Native Americans and assist them in increasing their quality of life.
This book provides an issue-driven introduction to industrial organization. Over the past twenty years, the study of industrial organization-the analysis of imperfectly competitive markets-has grown from a niche area of microeconomics to a key component of economics and of related disciplines such as finance, strategy, and marketing. This book provides an issue-driven introduction to industrial organization. It includes a vast array of examples, from both within and outside the United States. While formal in its approach, the book is written in a way that requires only basic mathematical training. Supplemental materials posted on the Web make more extensive use of algebra and calculus.
Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model - unfettered self-interest, privatization and low tax - faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism? Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why `one-size-fits-all' globalization hurts developing countries and why markets can work - but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.
The recent economic crisis was a dramatic reminder that capitalism can both produce and destroy. It's a system that by its very nature encourages predators and creators, locusts and bees. But, as Geoff Mulgan argues in this compelling, imaginative, and important book, the economic crisis also presents a historic opportunity to choose a radically different future for capitalism, one that maximizes its creative power and minimizes its destructive force. In an engaging and wide-ranging argument, Mulgan digs into the history of capitalism across the world to show its animating ideas, its utopias and dystopias, as well as its contradictions and possibilities. Drawing on a subtle framework for understanding systemic change, he shows how new political settlements reshaped capitalism in the past and are likely to do so in the future. By reconnecting value to real-life ideas of growth, he argues, efficiency and entrepreneurship can be harnessed to promote better lives and relationships rather than just a growth in the quantity of material consumption. Healthcare, education, and green industries are already becoming dominant sectors in the wealthier economies, and the fields of social innovation, enterprise, and investment are rapidly moving into the mainstream--all indicators of how capital could be made more of a servant and less a master. This is a book for anyone who wonders where capitalism might be heading next--and who wants to help make sure that its future avoids the mistakes of the past. This edition of The Locust and the Bee includes a new afterword in which the author lays out some of the key challenges facing capitalism in the twenty-first century.
An acerbic graphic takedown of capitalism.
In Hyper-Capitalism, cartoonist Larry Gonick and psychologist Tim Kasser offer a vivid and an accessible new way to understand how global, privatising, market-worshipping hyper-capitalism is threatening human wellbeing, social justice, and the planet.
Drawing from contemporary research, they describe and illustrate concepts (such as corporate power, free trade, privatisation, and deregulation) that are critical for understanding the world we live in, and movements (such as voluntary simplicity, sharing, alternatives to GDP, and protests) that have developed in response to the system.
Gonick and Kasser’s pointed and profound cartoon narratives provide a deep exploration of the global economy and the movements seeking to change it, all rendered in clear, graphic ― and sometimes hilarious ― terms. In the process, they point the way to a healthier future for all of us.
"The market has failed, we need more government intervention" - that's the mantra politicians, the media and intellectuals have been reiterating constantly ever since the outbreak of the 2008 financial crisis. By taking the reader on a journey across continents and through recent history, Rainer Zitelmann disproves this call for greater government intervention and demonstrates that capitalism matters more than ever. The author provides compelling evidence from across the world that capitalism has been the solution to a number of massive problems. He compares developments in West and East Germany, North and South Korea, capitalist Chile v. Socialist Venezuela, and analyses the extraordinary economic rise of China. For many people, "capitalism" is a dirty word. This book provides a timely reminder of capitalism's power is enabling growth and prosperity and is alleviating poverty.
VINTAGE MINIS: GREAT MINDS. BIG IDEAS. LITTLE BOOKS.
How do we choose between what is fair and just, and what our debtors demand of us? Yanis Varoufakis was put in such a dilemma in 2015 when he became the finance minister of Greece. In this rousing book, he charts the absurdities that underpin calls for austerity, as well as his own battles with a bureaucracy bent on ignoring the human cost of its every action. Passionately outspoken and tuned to the voices of the oppressed, Varoufakis presents a guide to modern economics, and its threat to democracy, like no other.
Selected from the books And the Weak Suffer What They Must? and Adults in the Room
Historian and political thinker Ellen Meiksins Wood argues that theories of "postmodern" fragmentation, "difference", and contingency can barely accommodate the idea of capitalism, let alone subject it to critique. In this book she sets out to renew the critical programme of historical materialism by redefining its basic concepts and its theory of history in original and imaginative ways, using them to identify the specificity of capitalism as a system of social relations and political power. She goes on to explore the concept of democracy in both the ancient and modern world, examining its relation to capitalism, and raising questions about how democracy might go beyond the limits imposed on it.
Is the bridge between the Austrian and Chicago schools coming together or moving apart? In Vienna and Chicago, Friends or Foes? economist and author Mark Skousen debates the Austrian and Chicago schools of free-market economics, which differ in monetary policy, business cycle, government policy, and methodology. Both have played a successful role in advancing classic free-market economics and countering the critics of capitalism during crucial times and the battle of ideas. But, which of the two is correct in its theories?
The Invisible Hand? offers a radical departure from the conventional wisdom of economists and economic historians, by showing that 'factor markets' and the economies dominated by them - the market economies - are not modern, but have existed at various times in the past. They rise, stagnate, and decline; and consist of very different combinations of institutions embedded in very different societies. These market economies create flexibility and high mobility in the exchange of land, labour, and capital, and initially they generate economic growth, although they also build on existing social structures, as well as existing exchange and allocation systems. The dynamism that results from the rise of factor markets leads to the rise of new market elites who accumulate land and capital, and use wage labour extensively to make their wealth profitable. In the long term, this creates social polarization and a decline of average welfare. As these new elites gradually translate their economic wealth into political leverage, it also creates institutional sclerosis, and finally makes these markets stagnate or decline again. This process is analysed across the three major, pre-industrial examples of successful market economies in western Eurasia: Iraq in the early Middle Ages, Italy in the high Middle Ages, and the Low Countries in the late Middle Ages and the early modern period, and then parallels drawn to England and the United States in the modern period. These areas successively saw a rapid rise of factor markets and the associated dynamism, followed by stagnation, which enables an in-depth investigation of the causes and results of this process.
Since the early 1980s, private equity investors have heralded and shepherded massive changes in American capitalism. From outsourcing to excessive debt taking, private equity investment helped normalize once-taboo business strategies while growing into an over $3 trillion industry in control of thousands of companies and millions of workers. Daniel Scott Souleles opens a window into the rarefied world of private equity investing through ethnographic fieldwork on private equity financiers. Songs of Profit, Songs of Loss documents how and why investors buy, manage, and sell the companies that they do; presents the ins and outs of private equity deals, management, and valuation; and explains the historical context that gave rise to private equity and other forms of investor-led capitalism. In addition to providing invaluable ethnographic insight, Songs of Profit, Songs of Loss is also an anthropological study of inequality as Souleles connects the core components of financial capitalism to economic disparities. Souleles uses local ideas of "value" and "time" to frame the ways private equity investors comprehend their work and to show how they justify the prosperity and poverty they create. Throughout, Souleles argues that understanding private equity investors as contrasted with others in society writ large is essential to fully understanding private equity within the larger context of capitalism in the United States.
This study aims at analyzing the resilience of Indonesia from two aspects: one is was natural disaster and the other is environmental protection. Therefore the study comprises two parts. The first aims at analyzing Palangkaraya City in Central Kalimantan Province by constructing apartial and a general equilibrium models; hence the existence of illegal settlements can be explained systematically. The models demonstrates a new attempt in city analysis by introducing the expected flood damage rate on households' assets. Furthermore, a numerical simulation shows a new finding, namely, that the bid rent by representative low-income households in flood-prone areas canreceive higher than the bid rent by the representative high-income households. The second part examines (1) the provision of public goods such as road construction on the Maros-Watampone Road, and (2) the urban economics of Makassar City. In this second part, the analytic hierarchy process is applied to design efficiency with respect to selecting the best type of road construction in a conservation area. As a result, the elevated bridge is determined to be the most suitable type of construction, followed by cut-and-fill and the tunnel system. The second research approach uses a computable general equilibrium (CGE) model that adds environmental objectives to urban economic objectives in Makassar City. The model examines the impact of the carbon tax based on the 2006 input-output table for Makassar City. The results of all simulations of the CGE model indicates that a carbon tax can reduce the volume of CO2 emissions by 8 %.
Thirty years ago, "maximising shareholder value" became the new business mantra, ushered in by Gordon Gekko and adopted over time across every layer of our economy. Since then, free market capitalism has lifted more than a billion people from poverty around the world. But in the U.S., most of the benefits have been captured by the richest 10%, along with providing justification for cheating customers, avoiding taxes, and leaving communities in the lurch. Today, Americans are losing faith that a free market economy is the best system - they're feeling it in their wallets and they're showing it in the voting booth. In Can American Capitalism Survive?, Pulitzer Prize-winning journalist Steven Pearlstein chronicles our descent and challenges the theories being taught in business schools and exercised in boardrooms around the country. We're missing a key tenet of Adam Smith's wealth of nations: without trust and social capital, democratic capitalism cannot survive. He challenges the blind assumptions of free market cheerleaders and puts forth an undeniable argument that equality need not come at the expense of economic growth. Pearstein lays out bold steps we can take as a country, addressing national service, tax code changes to incentivize companies to share profits with employees, educational opportunity, and more. He provides a path forward that will bring capitalism back to the people, and ultimately ensure prosperity for generations to come.
This essential volume reflects the continuing and enduring utility of general equilibrium as a framework of analyses. It attempts to reiterate that understanding broad and holistic consequence of economic events and policies go beyond partial equilibrium perspective. Cutting across areas of research, general equilibrium perspectives in terms of small-scale GE models following the theory and perspectives of Ronald Jones can help readers develop informed judgement regarding critical policies. These include but are not limited to several areas of specific interest - the interaction of financial factors with international trade and implications for the 'real sectors' of the economy, the impact of labour market reforms on the unorganised sectors in developing and transition countries, the non-uniform effects of inflation and deflation on internal and external factor flows, and the sought-after relation between foreign investment and skill accumulation.
Everything you ever wanted--and needed--to know about capitalism . . . but were afraid to ask.
What is capitalism, and will it survive? What does globalization really mean--and how does it affect your bank account? If capitalism, left unchecked, has caused disasters like the Great Depression and the financial crisis of 2008-09, why has it been the economic system of choice for centuries? To many people, the complex, jargon-rich world of capitalism can be intimidating, raising more questions than it answers. However, as the excesses and failures of free-market capitalism continue to hold sway over the daily news and our daily lives, understanding our economic system--including where it has succeeded and where it has not--is more important than ever.
Edited by New York Times business journalist Gretchen Morgenson, The Capitalist's Bible is the essential reference on capitalism and how it works--from the people who champion it to the mechanisms and institutions that uphold it to the terms and laws that define it. Whether you seek a more well-rounded understanding of the ideology that underwrites America's--and, increasingly, the world's--economy, or simply wish to be able to speak more knowledgeably on the subject in conversation, this book is an invaluable tool for understanding capitalism.
The Future of the Euro is an attempt by political economists to analyze the fundamental causes of the euro crisis, determine how it can be fixed, and consider what likely futures lie ahead for the currency. The book makes three interrelated arguments that emphasize the primacy of political over economic factors. First, the 'euro problem' is discussed as the result of the single currency's fundamental lack of institutional embeddedness, insofar as its original design omitted three 'forgotten unions' alongside of monetary union: a financial and banking union, mutually supporting institutions of fiscal union and economic government, and a political union holding similar legitimacy to the nation-state. Second, the 'euro experience' shows how the euro's unfinished design led to economic divergence - quietly altering the existing distribution of economic and political power within Europe prior to the crisis - which in turn determined the EU's crisis response. The book highlights how the euro's four most important members - Germany, France, Italy and Spain - each changed once they adopted the euro, why the crisis affected them so differently, and how each has since struggled to live with the commitments the euro necessitates. Third, the book examines three possible 'euro futures' through the lens of the politics of its reluctant leader Germany; through the lens of the EU's capacity to 'move forward' through crises; and through the geopolitical lens of the international monetary system. The book concludes that any successful long-term solution to the euro's predicament needs to start with the political foundations of markets.
This book demonstrates the theoretical value and practical significance of systems science and its logic of thinking by presenting a rigorously developed foundation-a tool for intuitive reasoning, which is supported by both theory and empirical evidence, as well as practical applications in business decision making. Following a foundation of general systems theory, the book presents an applied method to intuitively learn system-sciences fundamentals. The third and final part examines applications of the yoyo model and the theoretical results developed earlier within the context of problems facing business decision makers by organically combining methods of traditional science, the first dimension of science, with those of systems science, the second dimension, as argued by George Klir in the 1990s. This text would benefit graduate students, researchers, or practitioners in the areas of mathematics, systems science or engineering, economics, and business decision science.
In Finance-Led Capitalism , bestselling author and economist Robert Guttmann provides a new conceptual framework to assess the dominate role of modern finance within the workings of our contemporary economic system. This lively and provocative read will challenge some of the core beliefs about modern finance and the world economy.
This book applies a multiparadigmatic philosophical frame of analysis to the global political economy. Crossing two disciplines and lines of literature-social philosophy and global political economy-this book considers seven aspects of global political economy and discusses each aspect from four diverse paradigmatic viewpoints: functionalist, interpretive, radical humanist, and radical structuralist. The four paradigms are founded upon different assumptions about the nature of social science and the nature of society. Each paradigm generates theories, concepts, and analytical tools which are different from those of other paradigms; developing an understanding of the different paradigms leads to a better understanding of the multi-faceted nature of the subject matter. In this book, the first chapter reviews the four paradigms. Each of the next seven chapters provides four paradigmatic explanations for each of the seven aspects of the global political economy. The final chapter concludes by recommending further paradigmatic diversity. This book will be of particular interest to students and researchers interested in political economy, heterodox economics, political science and international relations.
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