Book picks similar to
Open Society Reforming Global Capitalism Reconsidered by George Soros
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Profit Over People: Neoliberalism and Global Order
Noam Chomsky - 1998
By examining the contradictions between the democratic and market principles proclaimed by those in power and those actually practiced, Chomsky critiques the tyranny of the few that restricts the public arena and enacts policies that vastly increase private wealth, often with complete disregard for social and ecological consequences. Combining detailed historical examples and uncompromising criticism, Chomsky offers a profound sense of hope that social activism can reclaim people's rights as citizens rather than as consumers, redefining democracy as a global movement, not a global market.
Four Futures: Life After Capitalism
Peter Frase - 2015
In Four Futures, Frase imagines how this post-capitalist world might look, deploying the tools of both social science and speculative fiction to explore what communism, rentism, socialism and exterminism might actually entail.Could the current rise of real-life robocops usher in a world that resembles Ender’s Game? And sure, communism will bring an end to material scarcities and inequalities of wealth—but there’s no guarantee that social hierarchies, governed by an economy of “likes,” wouldn’t rise to take their place. A whirlwind tour through science fiction, social theory and the new technologies already shaping our lives, Four Futures is a balance sheet of the socialisms we may reach if a resurgent Left is successful, and the barbarisms we may be consigned to if those movements fail.
The Myth of Capitalism: Monopolies and the Death of Competition
Jonathan Tepper - 2018
Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.
Losing Ground: American Social Policy, 1950-1980
Charles Murray - 1983
Losing Ground argues that the ambitious social programs of the1960s and 1970s actually made matters worse for its supposed beneficiaries, the poor and minorities. Charles Murray startled readers by recommending that we abolish welfare reform, but his position launched a debate culminating in President Clinton’s proposal “to end welfare as we know it.”
The Cultural Contradictions of Capitalism
Daniel Bell - 1976
With the end of the Cold War and the emergence of a new world order, this provocative manifesto is more relevant than ever.
The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession
Richard C. Koo - 2008
The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings. This shift in corporate priority, however, has huge theoretical as well as practical implications and opens up a whole new field of study. For example, the new insight can explain fully the precise mechanism of prolonged depression and liquidity trap which conventional economics - based on corporate profit maximization - has so far failed to offer as a convincing explanation. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory, i.e., the Holy Grail of macro economics The policy implication of this new discovery is immense in that the conventional aversion to fiscal policy in favor of monetary policy will have to be completely reversed when the economy is in the yin phase. The theoretical implications are also immense in the sense that the economics profession will no longer have to rely so much on various rigidities to explain recessions that have become the standard practice within the so-called New Keynesian economics of the last twenty years.
Give People Money: The Simple Idea to Solve Inequality and Revolutionise Our Lives
Annie Lowrey - 2018
It sounds crazy, but it has become one of the most influential and hotly debated policy ideas of our time. Futurists, radicals, libertarians, socialists, union representatives, feminists, conservatives, Bernie supporters, development economists, child-care workers, welfare recipients, and politicians from India to Finland to Canada to Mexico--all are talking about UBI.In this sparkling and provocative book, economics writer Annie Lowrey looks at the global UBI movement. She travels to Kenya to see how a UBI is lifting the poorest people on earth out of destitution, India to see how inefficient government programs are failing the poor, South Korea to interrogate UBI's intellectual pedigree, and Silicon Valley to meet the tech titans financing UBI pilots in expectation of a world with advanced artificial intelligence and little need for human labor.Lowrey examines the potential of such a sweeping policy and the challenges the movement faces, among them contradictory aims, uncomfortable costs, and, most powerfully, the entrenched belief that no one should get something for nothing. She shows how this arcane policy offers not only a potential answer for our most intractable economic and social problems, but also a better foundation for our society in this age of turbulence and marvels.
The Age of Surveillance Capitalism: The Fight for a Human Future at the New Frontier of Power
Shoshana Zuboff - 2018
The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth.Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new "behavioral futures markets," where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new "means of behavioral modification."The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a "Big Other" operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled "hive" of total connection that seduces with promises of total certainty for maximum profit--at the expense of democracy, freedom, and our human future.With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future--if we let it.Table of contentsINTRODUCTION1. Home or exile in the digital futureI. THE FOUNDATIONS OF SURVEILLANCE CAPITALISM2. August 9, 2011: Setting the stage for Surveillance Capitalism3. The discovery of behavioral surplus4. The moat around the castle5. The elaboration of Surveillance Capitalism: Kidnap, corner, compete6. Hijacked: The division of learning in societyII. THE ADVANCE OF SURVEILLANCE CAPITALISM7. The reality business8. Rendition: From experience to data9. Rendition from the depths10. Make them dance11. The right to the future tenseIII. INSTRUMENTARIAN POWER FOR A THIRD MODERNITY12. Two species of power13. Big Other and the rise of instrumentarian power14. A utopia of certainty15, The instrumentarian collective16. Of life in the hive17. The right to sanctuaryCONCLUSION18. A coup from aboveAcknowledgementsAbout the authorDetailed table of contentsNotesIndex
The Myth of the Rational Market: Wall Street's Impossible Quest for Predictable Markets
Justin Fox - 2008
The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself.The efficient market hypothesis--long part of academic folklore but codified in the 1960s at the University of Chicago--has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.
Naked Economics: Undressing the Dismal Science
Charles Wheelan - 2002
In fact, you won’t be able to put this bestseller down. In our challenging economic climate, this perennial favorite of students and general readers is more than a good read, it’s a necessary investment—with a blessedly sure rate of return. This revised and updated edition includes commentary on hot topics such as automation, trade, income inequality, and America’s rising debt. Ten years after the financial crisis, Naked Economics examines how policymakers managed the worst economic crisis since the Great Depression.Demystifying buzzwords, laying bare the truths behind oft-quoted numbers, and answering the questions you were always too embarrassed to ask, the breezy Naked Economics gives you the tools to engage with pleasure and confidence in the deeply relevant, not so dismal science.
The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else
Hernando de Soto - 2000
Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we've forgotten that creating this system is also what allowed people everywhere to leverage property into wealth. This persuasive book will revolutionize our understanding of capital and point the way to a major transformation of the world economy.
Economix: How and Why Our Economy Works (and Doesn't Work), in Words and Pictures
Michael Goodwin - 2012
. . worldwideEverybody's talking about the economy, but how can we, the people, understand what Wall Street or Washington knows--or say they know? Read "Economix."With clear, witty writing and quirky, accessible art, this important and timely graphic novel transforms "the dismal science" of economics into a fun, fact-filled story about human nature and our attempts to make the most of what we've got . . . and sometimes what our neighbors have got. "Economix "explains it all, from the beginning of Western economic thought, to markets free and otherwise, to economic failures, successes, limitations, and future possibilities. It's the essential, accessible guide to understanding the economy and economic practices. A must-read for every citizen and every voter.PRAISE FOR "ECONOMIX""It's simply phenomenal. You could read ten books on the subject and not glean as much information."-- David Bach founder of FinishRich Media; author of nine "New York Times" bestsellers, including "Debt Free for Life" and "The Automatic Millionaire" "Goodwin has done the seemingly impossible--he has made economics comprehensible "and" funny."-- Joel Bakan, author of "The Corporation" "The Pathological Pursuit of Profit and Power" "An amazing lesson in true-world economics Delightfully presented, powerful, insightful, and important information What a fun way to fathom a deep and often dark subject "-- John Perkins, author of "Hoodwinked" and the "New York Times" bestseller "Confessions of an Economic Hit Man" "Smart, insightful, clear, and as close to the truth as economics can get. The bonus: Who would have guessed that economics could be fun, and--here's the joy--really accessible? Goodwin roots us in history and fills us with common sense understanding. As he puts it early on, economics seems horribly complicated mostly because we're looking at it all at once. Broken down into its component pieces, it's relatively easy to understand. And a good understanding of economics is critical to maneuvering in the world today. If I were compiling a list of the 100 most important books you can read in a lifetime, this would be on it."--Stephen Petranek, editor-in-chief, Weider History magazines, former editor-in-chief of "Discover" magazine "Through a potent mix of comics and punchy, concise, accessible prose, Goodwin takes us on a provocative, exhaustively researched, and exceedingly engaging trip through our history and present day, creating an alternately hilarious and scary picture of where we are today as an economy-- and what it all means. More than that, Goodwin makes the arcane, understandable. If your mind either spins or slumbers at the thought of economics, read Goodwin's "Economix" and all will become clear. --Nomi Prins, author of "It Takes a Pillage: An Epic Tale of Power, Deceit, and Untold Trillions" ""Economix" is a lively, cheerfully opinionated romp through the historical and intellectual foundations of our current economy and our current economic problems. Goodwin has a knack for distilling complex ideas and events in ways that invite the reader to follow the big picture without losing track of what actually happened. Any reader wondering how our economy got to where it is today will find this a refreshing overview."--Timothy W. Guinnane, Philip Golden Bartlett Professor of Economic History, Yale University
Manias, Panics, and Crashes: A History of Financial Crises
Charles P. Kindleberger - 1978
Since its introduction in 1978, this book has charted and followed this volatile world of financial markets. Charles Kindleberger's brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now this newly revised and expanded Fourth Edition probes the most recent "natural disasters" of the markets--from the difficulties in East Asia and the repercussions of the Mexican crisis to the 1992 Sterling crisis. His sharply drawn history confronts a host of key questions. Charles P. Kindleberger (Boston, MA) was the Ford Professor of Economics at MIT for thirty-three years. He is a financial historian and prolific writer who has published over twenty-four books.
The Divide: A Brief Guide to Global Inequality and its Solutions
Jason Hickel - 2017
In The Divide, Jason Hickel brilliantly lays it out, layer upon layer, until you are left reeling with the outrage of it all.’ - Kate Raworth, author of Doughnut EconomicsFor decades we have been told a story about the divide between rich countries and poor countries. We have been told that development is working: that the global South is catching up to the North, that poverty has been cut in half over the past thirty years, and will be eradicated by 2030. It’s a comforting tale, and one that is endorsed by the world’s most powerful governments and corporations. But is it true?Since 1960, the income gap between the North and South has roughly tripled in size. Today 4.3 billion people, 60 per cent of the world's population, live on less than $5 per day. Some 1 billion live on less than $1 a day. The richest eight people now control the same amount of wealth as the poorest half of the world combined.What is causing this growing divide? We are told that poverty is a natural phenomenon that can be fixed with aid. But in reality it is a political problem: poverty doesn’t just exist, it has been created.Poor countries are poor because they are integrated into the global economic system on unequal terms. Aid only works to hide the deep patterns of wealth extraction that cause poverty and inequality in the first place: rigged trade deals, tax evasion, land grabs and the costs associated with climate change. The Divide tracks the evolution of this system, from the expeditions of Christopher Columbus in the 1490s to the international debt regime, which has allowed a handful of rich countries to effectively control economic policies in the rest of the world.Because poverty is a political problem, it requires political solutions. The Divide offers a range of revelatory answers, but also explains that something much more radical is needed – a revolution in our way of thinking. Drawing on pioneering research, detailed analysis and years of first-hand experience, The Divide is a provocative, urgent and ultimately uplifting account of how the world works, and how it can change.
Fully Grown: Why a Stagnant Economy Is a Sign of Success
Dietrich Vollrath - 2020
Most economists would agree that a thriving economy is synonymous with GDP growth. The more we produce and consume, the higher our living standard and the more resources available to the public. This means that our current era, in which growth has slowed substantially from its postwar highs, has raised alarm bells. But should it? Is growth actually the best way to measure economic success—and does our slowdown indicate economic problems? The counterintuitive answer Dietrich Vollrath offers is: No. Looking at the same facts as other economists, he offers a radically different interpretation. Rather than a sign of economic failure, he argues, our current slowdown is, in fact, a sign of our widespread economic success. Our powerful economy has already supplied so much of the necessary stuff of modern life, brought us so much comfort, security, and luxury, that we have turned to new forms of production and consumption that increase our well-being but do not contribute to growth in GDP. In Fully Grown, Vollrath offers a powerful case to support that argument. He explores a number of important trends in the US economy: including a decrease in the number of workers relative to the population, a shift from a goods-driven economy to a services-driven one, and a decline in geographic mobility. In each case, he shows how their economic effects could be read as a sign of success, even though they each act as a brake of GDP growth. He also reveals what growth measurement can and cannot tell us—which factors are rightly correlated with economic success, which tell us nothing about significant changes in the economy, and which fall into a conspicuously gray area. Sure to be controversial, Fully Grown will reset the terms of economic debate and help us think anew about what a successful economy looks like.