Book picks similar to
Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown by Philip Mirowski
economics
politics
non-fiction
history
Labor and Monopoly Capital: The Degradation of Work in the Twentieth Century
Harry Braverman - 1974
Written in a direct, inviting way by Harry Braverman, whose years as an industrial worker gave him rich personal insight into work, Labor and Monopoly Capital overturned the reigning ideologies of academic sociology.This new edition features an introduction by John Bellamy Foster that sets the work in historical and theoretical context, as well as two rare articles by Braverman, The Degradation of Work in the Twentieth Century (1975) and Two Comments (1976), that add much to our understanding of the book.
Free to Choose: A Personal Statement
Milton Friedman - 1980
In this classic discussion, Milton and Rose Friedman explain how our freedom has been eroded and our affluence undermined through the explosion of laws, regulations, agencies, and spending in Washington. This important analysis reveals what has gone wrong in America in the past and what is necessary for our economic health to flourish.
Goliath: The 100-Year War Between Monopoly Power and Democracy
Matt Stoller - 2019
A concentration of power, whether in the hands of a military dictator or a JP Morgan, was understood as autocratic and dangerous to individual liberty and democracy. This idea stretched back to the country’s founding. In the 1930s, people observed that the Great Depression was caused by financial concentration in the hands of a few whose misuse of their power induced a financial collapse. They drew on this tradition to craft the New Deal. In Goliath, Matt Stoller explains how authoritarianism and populism have returned to American politics for the first time in eighty years, as the outcome of the 2016 election shook our faith in democratic institutions. It has brought to the fore dangerous forces that many modern Americans never even knew existed. Today’s bitter recriminations and panic represent more than just fear of the future, they reflect a basic confusion about what is happening and the historical backstory that brought us to this moment. The true effects of populism, a shrinking middle class, and concentrated financial wealth are only just beginning to manifest themselves under the current administrations. The lessons of Stoller’s study will only grow more relevant as time passes. Building upon his viral article in The Atlantic, “How the Democrats Killed Their Populist Soul,” Stoller illustrates in rich detail how we arrived at this tenuous moment, and the steps we must take to create a new democracy.
Moneyland: Why Thieves and Crooks Now Rule the World and How To Take It Back
Oliver Bullough - 2018
He could buy himself a new car or build himself a nice house or give it to his friends and family, but that was about it. If he kept stealing, the money would just pile up in his house until he had no rooms left to put it in, or it was eaten by mice.And then some bankers in London had a bright idea.Join the investigative journalist Oliver Bullough on a journey into Moneyland - the secret country of the lawless, stateless superrich.Learn how the institutions of Europe and the United States have become money-laundering operations, undermining the foundations of Western stability. Discover the true cost of being open for business no matter how corrupt and dangerous the customer. Meet the kleptocrats. Meet their awful children. And find out how heroic activists around the world are fighting back.This is the story of wealth and power in the 21st century. It isn't too late to change it.
The Meritocracy Trap: How America's Foundational Myth Feeds Inequality, Dismantles the Middle Class, and Devours the Elite
Daniel Markovits - 2019
Even as the country divides itself at every turn, the meritocratic ideal - that social and economic rewards should follow achievement rather than breeding - reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream.But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy's successes.This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
Democracy Incorporated: Managed Democracy and the Specter of Inverted Totalitarianism
Sheldon S. Wolin - 2006
But what if the country is no longer a democracy at all? In "Democracy Incorporated," Sheldon Wolin considers the unthinkable: has America unwittingly morphed into a new and strange kind of political hybrid, one where economic and state powers are conjoined and virtually unbridled? Can the nation check its descent into what the author terms "inverted totalitarianism"?Wolin portrays a country where citizens are politically uninterested and submissive--and where elites are eager to keep them that way. At best the nation has become a "managed democracy" where the public is shepherded, not sovereign. At worst it is a place where corporate power no longer answers to state controls. Wolin makes clear that today's America is in no way morally or politically comparable to totalitarian states like Nazi Germany, yet he warns that unchecked economic power risks verging on total power and has its own unnerving pathologies. Wolin examines the myths and mythmaking that justify today's politics, the quest for an ever-expanding economy, and the perverse attractions of an endless war on terror. He argues passionately that democracy's best hope lies in citizens themselves learning anew to exercise power at the local level."Democracy Incorporated" is one of the most worrying diagnoses of America's political ills to emerge in decades. It is sure to be a lightning rod for political debate for years to come."
Debunking Economics: The Naked Emperor Dethroned?
Steve Keen - 2001
When the original Debunking Economics was published in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and "The false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits." That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this expanded and updated new edition, Keen builds on his scathing critique of conventional economic theory while explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics (Revised and Expanded Edition) provides a signpost to a better future.
The Theory of the Leisure Class
Thorstein Veblen - 1899
Veblen's The Theory of the Leisure Class is in the tradition of Adam Smith's The Wealth of Nations and Thomas Hobbes's Leviathan, yet it provides a surprisingly contemporary look at American economics and society.Establishing such terms as "conspicuous consumption" and "pecuniary emulation," Veblen's most famous work has become an archetype not only of economic theory, but of historical and sociological thought as well. As sociologist Alan Wolfe writes in his Introduction, Veblen "skillfully . . . wrote a book that will be read so long as the rich are different from the rest of us; which, if the future is anything like the past, they always will be."
Talking to My Daughter About the Economy: or, How Capitalism Works—and How It Fails
Yanis Varoufakis - 2013
Now, he faces his most important—and difficult—audience yet. Using clear language and vivid examples, Varoufakis offers a series of letters to his young daughter about the economy: how it operates, where it came from, how it benefits some while impoverishing others. Taking bankers and politicians to task, he explains the historical origins of inequality among and within nations, questions the pervasive notion that everything has its price, and shows why economic instability is a chronic risk. Finally, he discusses the inability of market-driven policies to address the rapidly declining health of the planet his daughter’s generation stands to inherit.Throughout, Varoufakis wears his expertise lightly. He writes as a parent whose aim is to instruct his daughter on the fundamental questions of our age—and through that knowledge, to equip her against the failures and obfuscations of our current system and point the way toward a more democratic alternative.
Beyond Outrage: What has gone wrong with our economy and our democracy, and how to fix it
Robert B. Reich - 2012
Reich urges Americans to get beyond mere outrage about the nation’s increasingly concentrated wealth and corrupt politics in order to mobilize and to take back our economy and democracy.Americans can’t rely only on getting good people elected, Reich argues, because nothing positive happens in Washington unless good people outside Washington are organized to help make those things happen after the election. But in order to be effectively mobilized, we need to see the big picture. Reich connects the dots for us, showing why the increasing share of income and wealth going to the top has hobbled jobs and growth for everyone else, while undermining our democracy; has caused Americans to become increasingly cynical about public life; and has turned many Americans against one another. He also explains why the proposals of the “regressive right” are dead wrong and provides a clear road map for what must be done instead. Here is a blueprint for action for everyone who cares about the future of America.
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.
The Price of Civilization
Jeffrey D. Sachs - 2010
Sachs has been at the forefront of international problem solving. But Sachs turns his attention back home in 'The Price of Civilization,' a book that is essential reading for every American. In a forceful, impassioned, and personal voice, he offers not only a searing and incisive diagnosis of our country's economic ills but also an urgent call for Americans to restore the virtue of fairness, honesty, and foresight as the foundations of national prosperity." Inside book cover comments.
The Lexus and the Olive Tree
Thomas L. Friedman - 1997
Friedman, the Pulitzer Prize-winning foreign affairs columnist for The New York Times, offers an engrossing look at the new international system that is transforming world affairs today. Globalization has replaced the Cold War system with the integration of capital, technology, and information across national borders—uniting Brazilian peasants, Indonesian entrepreneurs, Chinese villagers, and Silicon Valley technocrats in a single global village. You cannot understand the morning news, know where to invest your money, or think about the future unless you understand this new system, which is profoundly influencing virtually every country in the world today. Friedman tells you what this electronic global economy is all about and what it will take to live within it.With vivid stories drawn from his extensive travels, he dramatizes the conflict of “the Lexus and the olive tree”—the tension between the globalization system and the ancient forces of culture, geography, tradition, and community. He also details the powerful backlash that globalization produces among those who feel brutalized by it, and he spells out what we all need to do to keep the Lexus and the olive tree in balance. For this new paperback edition, Friedman has substantially expanded and updated his provocative analysis, making it essential reading for all who care about how the world works now.
The New Spirit of Capitalism
Luc Boltanski - 1999
They argue that from the middle of the 1970s onwards, capitalism abandoned the hierarchical Fordist work structure and developed a new network-based form of organization which was founded on employee initiative and autonomy in the workplace – a ‘freedom’ that came at the cost of material and psychological security.The authors connect this new spirit with the children of the libertarian and romantic currents of the late 1960s (as epitomised by dressed-down. cool capitalists such as Bill Gates and ‘Ben and Jerry’) arguing that they practice a more successful and subtle form of exploitation.In a work that is already a classic in Europe, Boltanski and Chiapello show how the new spirit triumphed thanks to a remarkable recuperation of the Left’s critique of the alienation of everyday life – a recuperation that simultaneously undermined the power of its social critique.
An Inquiry into the Nature and Causes of the Wealth of Nations
Adam Smith - 1776
Written in clear and incisive prose, The Wealth of Nations articulates the concepts indispensable to an understanding of contemporary society; and Robert Reich's Introduction both clarifies Smith's analyses and illuminates his overall relevance to the world in which we live. As Reich writes, "Smith's mind ranged over issues as fresh and topical today as they were in the late eighteenth century--jobs, wages, politics, government, trade, education, business, and ethics."Introduction by Robert Reich - Commentary by R. H. Campbell and A. S. Skinner - Includes a Modern Library Reading Group Guide