Capitalism in America: A History


Alan Greenspan - 2018
    To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. Where does innovation come from, and how does it spread through a society? And why do some eras see the fruits of innovation spread more democratically, and others, including our own, see the opposite?In Capitalism in America, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique tolerance for the effects of creative destruction, the ceaseless churn of the old giving way to the new, driven by new people and new ideas. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers.

Why Not Capitalism?


Jason Brennan - 2014
    As Adam Smith put it, "It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest." Capitalism works better than socialism, according to this thinking, only because we are not kind and generous enough to make socialism work. If we were saints, we would be socialists.In "Why Not Capitalism"?, Jason Brennan attacks this widely held belief, arguing that capitalism would remain the best system even if we were morally perfect. Even in an ideal world, private property and free markets would be the best way to promote mutual cooperation, social justice, harmony, and prosperity. Socialists seek to capture the moral high ground by showing that ideal socialism is morally superior to realistic capitalism. But, Brennan responds, ideal capitalism is superior to ideal socialism, and so capitalism beats socialism at every level.Clearly, engagingly, and at times provocatively written, "Why Not Capitalism? "will cause readers of all political persuasions to re-evaluate where they stand vis-a-vis economic priorities and systems as they exist now and as they might be improved in the future.

The Great Convergence: Asia, the West, and the Logic of One World


Kishore Mahbubani - 2013
    Kishore Mahbubani is optimistic. We are creating a new global civilization. Eighty-eight percent of the world's population outside the West is rising to Western living standards, and sharing Western aspirations. Yet Mahbubani, one of the most perceptive global commentators, also warns that a new global order needs new policies and attitudes.Policymakers all over the world must change their preconceptions and accept that we live in one world. National interests must be balanced with global interests. Power must be shared. The U.S. and Europe must cede some power. China and India, Africa and the Islamic world must be integrated. Mahbubani urges that only through these actions can we create a world that converges benignly. This timely book explains how to move forward and confront many pressing global challenges.

The Divide: American Injustice in the Age of the Wealth Gap


Matt Taibbi - 2014
    Crime goes down. The prison population doubles. Fraud by the rich wipes out 40 percent of the world's wealth. The rich get massively richer. No one goes to jail.In search of a solution, journalist Matt Taibbi discovered the Divide, the seam in American life where our two most troubling trends--growing wealth inequality and mass incarceration--come together, driven by a dramatic shift in American citizenship: Our basic rights are now determined by our wealth or poverty. The Divide is what allows massively destructive fraud by the hyperwealthy to go unpunished, while turning poverty itself into a crime--but it's impossible to see until you look at these two alarming trends side by side.

World-Systems Analysis: An Introduction


Immanuel Wallerstein - 2004
    Since Wallerstein first developed world-systems analysis, it has become a widely utilized methodology within the historical social sciences and a common point of reference in discussions of globalization. Now, for the first time in one volume, Wallerstein offers a succinct summary of world-systems analysis and a clear outline of the modern world-system, describing the structures of knowledge upon which it is based, its mechanisms, and its future.Wallerstein explains the defining characteristics of world-systems analysis: its emphasis on world-systems rather than nation-states, on the need to consider historical processes as they unfold over long periods of time, and on combining within a single analytical framework bodies of knowledge usually viewed as distinct from one another—such as history, political science, economics, and sociology. He describes the world-system as a social reality comprised of interconnected nations, firms, households, classes, and identity groups of all kinds. He identifies and highlights the significance of the key moments in the evolution of the modern world-system: the development of a capitalist world-economy in the sixteenth-century, the beginning of two centuries of liberal centrism in the French Revolution of 1789, and the undermining of that centrism in the global revolts of 1968. Intended for general readers, students, and experienced practitioners alike, this book presents a complete overview of world-systems analysis by its original architect.

The Silent Takeover: Global Capitalism and the Death of Democracy


Noreena Hertz - 2001
    The sales of General Motors and Ford are greater than the gross domestic product of the whole of sub-Saharan Africa, and Wal-Mart now has a turnover higher than the revenues of most of the states of Eastern Europe. Yet few of us understand fully the growing dominance of big business.Widely acclaimed economist Noreena Hertz brilliantly reveals how corporations across the world manipulate and pressure governments by means both legal and illegal; how protest is becoming a more effective political weapon than the ballot-box; and how corporations are taking over from the state responsibility for everything from providing technology for schools to healthcare for the community.The Silent Takeover asks us to recognize the growing contradictions of a world divided between haves and have-nots, of gated communities next to ghettos, of extreme poverty and unbelievable wealth. In the face of these unacceptable extremes, Noreena Hertz outlines a new agenda to revitalize politics and renew democracy.

Dr. Strangelove's Game: A Brief History of Economic Genius


Paul Strathern - 2001
    Strangelove’s Game will do for economics what Sophie’s World did for philosophy and E=mc2 for physics.With the infectious enthusiasm of a great teacher and a novelist’s eye for a colourful parade of often bizarre and idiosyncratic figures, Paul Strathern gives us a vivid account of the world of economics through the lives and minds of those who contributed to the growth of economic thought from the Middle Ages to the present.The familiar and iconic names – Adam Smith, Karl Marx and John Maynard Keynes – turn out to be fascinating characters, as do a host of lesser-known figures – from Luca Pacioli, a medieval monk who used a ball game to stimulate thought about probability theory (and gambling) to John von Neumann, the manic genius who invented game theory, worked on the atomic bomb, and was probably the model for Kubrick’s Dr. Strangelove. There are pessimistic priests, visionary socialists, crackpot academics, and an alleged murderer who controlled France’s finances.Paul Strathern sets their lives and thoughts against the dramatic backdrop of great events – the South Sea Bubble, the French Revolution, the Russian Revolution and the Great Crash. His lightly worn erudition makes Dr. Strangelove’s Game amazingly accessible, leaving readers enriched and enlightened.From the Hardcover edition.

The Logic of Life: The Rational Economics of an Irrational World


Tim Harford - 2008
    In this deftly reasoned book, a columnist for The Financial Times and Slate argues that, despite the everyday insanity, life is logical after all, and he explores the surprisingly rational choices that shape the world.

Trouble in Paradise: From the End of History to the End of Capitalism


Slavoj Žižek - 2014
    There is obviously trouble in the global capitalist paradise. But why do we find it so difficult to imagine a way out of the crisis we're in? It is as if the trouble feeds on itself: the march of capitalism has become inexorable, the only game in town. Setting out to diagnose the condition of global capitalism, the ideological constraints we are faced with in our daily lives, and the bleak future promised by this system, Slavoj Zizek explores the possibilities - and the traps - of new emancipatory struggles. Drawing insights from phenomena as diverse as Gangnam Style to Marx, The Dark Knight to Thatcher, Trouble in Paradise is an incisive dissection of the world we inhabit, and the new order to come.

The Spirit Level: Why More Equal Societies Almost Always Do Better


Richard G. Wilkinson - 2009
    Why do we mistrust people more in the UK than in Japan? Why do Americans have higher rates of teenage pregnancy than the French? What makes the Swedish thinner than the Greeks? The answer: inequality. This groundbreaking book, based on years of research, provides hard evidence to show how almost everything—-from life expectancy to depression levels, violence to illiteracy-—is affected not by how wealthy a society is, but how equal it is. Urgent, provocative and genuinely uplifting, The Spirit Level has been heralded as providing a new way of thinking about ourselves and our communities, and could change the way you see the world.

Progress and Poverty


Henry George - 1879
    Published in 1879, it was admired and advocated by great minds such as Albert Einstein, Winston Churchill, Leo Tolstoy and Sun Yat-sen in China.

Radical Markets: Uprooting Capitalism and Democracy for a Just Society


Eric A. Posner - 2018
    The solution is to rein in the market, right? Radical Markets turns this thinking--and pretty much all conventional thinking about markets, both for and against--on its head. The book reveals bold new ways to organize markets for the good of everyone. It shows how the emancipatory force of genuinely open, free, and competitive markets can reawaken the dormant nineteenth-century spirit of liberal reform and lead to greater equality, prosperity, and cooperation.Eric Posner and Glen Weyl demonstrate why private property is inherently monopolistic, and how we would all be better off if private ownership were converted into a public auction for public benefit. They show how the principle of one person, one vote inhibits democracy, suggesting instead an ingenious way for voters to effectively influence the issues that matter most to them. They argue that every citizen of a host country should benefit from immigration--not just migrants and their capitalist employers. They propose leveraging antitrust laws to liberate markets from the grip of institutional investors and creating a data labor movement to force digital monopolies to compensate people for their electronic data.Only by radically expanding the scope of markets can we reduce inequality, restore robust economic growth, and resolve political conflicts. But to do that, we must replace our most sacred institutions with truly free and open competition--Radical Markets shows how.

The Soul of Capitalism: Opening Paths to a Moral Economy


William Greider - 2003
    In The Soul of Capitalism, Greider examines how the greatest wealth-creation engine in the history of the world is failing most of us, why it must be changed, and how specifically it can be transformed. Brilliantly perceptive and sweeping in its ambition, The Soul of Capitalism is also hard-headed and practical, as Greider, one of our most eloquent populist spokesmen, assures us we are not powerless. He illustrates how American capitalism can be aligned more faithfully and obediently with what people want and need in their lives, with what American society needs for a healthy, balanced, and humane future. He proves that it is within our power to reinvent capitalism to make it work for us. The Soul of Capitalism -- solid, pragmatic, visionary, optimistic -- addresses the nation's most urgent needs.

The End of Growth: Adapting to Our New Economic Reality


Richard Heinberg - 2011
    The End of Growth proposes a startling diagnosis: humanity has reached a fundamental turning point in its economic history. The expansionary trajectory of industrial civilization is colliding with non-negotiable natural limits.Richard Heinberg’s latest landmark work goes to the heart of the ongoing financial crisis, explaining how and why it occurred, and what we must do to avert the worst potential outcomes. Written in an engaging, highly readable style, it shows why growth is being blocked by three factors:Resource depletion Environmental impacts Crushing levels of debtThese converging limits will force us to re-evaluate cherished economic theories and to reinvent money and commerce.The End of Growth describes what policy makers, communities, and families can do to build a new economy that operates within Earth’s budget of energy and resources. We can thrive during the transition if we set goals that promote human and environmental well-being, rather than continuing to pursue the now-unattainable prize of ever-expanding GDP.Richard Heinberg is the author of nine previous books, including The Party's Over, Peak Everything, and Blackout. A senior fellow of the Post Carbon Institute, Heinberg is one of the world's foremost peak oil educators and an effective communicator of the urgent need to transition away from fossil fuels.

Payback: Debt and the Shadow Side of Wealth


Margaret Atwood - 2007
    She doesn’t talk about high finance or managing money; instead, she goes far deeper to explore debt as an ancient and central motif in religion, literature, and the structure of human societies. By looking at how debt has informed our thinking from preliterate times to the present day, from the stories we tell of revenge and sin to the way we order social relationships, Atwood argues that the idea of what we owe may well be built into the human imagination as one of its most dynamic metaphors. Her final lecture addresses the notion of a debt to nature and the need to find new ways of interacting with the natural world before it is too late.