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Author: Chris Harman
Publisher: Haymarket Books
ISBN: 1608461041
Category : Business & Economics
Languages : en
Pages : 426
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Book Description
We've been told for years that the capitalist free market is a self-correcting perpetual growth machine in which sellers always find buyers, precluding any major crisis in the system. Then the credit crunch of August 2007 turned into the great crash of September–October 2008, leading one apologist for the system, Willem Buiter, to write of "the end of capitalism as we knew it." As the crisis unfolded, the world witnessed the way in which the runaway speculation of the "shadow" banking system wreaked havoc on world markets, leaving real human devastation in its wake. Faced with the financial crisis, some economic commentators began to talk of "zombie banks"–financial institutions that were in an "undead state" and incapable of fulfilling any positive function but a threat to everything else. What they do not realize is that twenty-first century capitalism as a whole is a zombie system, seemingly dead when it comes to achieving human goals.
Author: Chris Harman
Publisher: Haymarket Books
ISBN: 1608461041
Category : Business & Economics
Languages : en
Pages : 426
Get Book Here
Book Description
We've been told for years that the capitalist free market is a self-correcting perpetual growth machine in which sellers always find buyers, precluding any major crisis in the system. Then the credit crunch of August 2007 turned into the great crash of September–October 2008, leading one apologist for the system, Willem Buiter, to write of "the end of capitalism as we knew it." As the crisis unfolded, the world witnessed the way in which the runaway speculation of the "shadow" banking system wreaked havoc on world markets, leaving real human devastation in its wake. Faced with the financial crisis, some economic commentators began to talk of "zombie banks"–financial institutions that were in an "undead state" and incapable of fulfilling any positive function but a threat to everything else. What they do not realize is that twenty-first century capitalism as a whole is a zombie system, seemingly dead when it comes to achieving human goals.
Author: James P. Kraft
Publisher: JHU Press
ISBN: 142144058X
Category : Technology & Engineering
Languages : en
Pages : 271
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Book Description
How disasters—that have wrecked work sites throughout American history, in all parts of the nation and all sectors of the economy—have also inspired policy reform. Workplace disasters have wreaked havoc on countless American workers and their families. They have resulted in widespread death and disability as well as the loss of property and savings. These tragic events have also inspired safety reforms that reshaped labor conditions in ways that partially compensated for death, suffering, and social dislocation. In Havoc and Reform, James P. Kraft encourages readers to think about such disastrous events in new ways. Placing the problem of workplace safety in historical context, Kraft focuses on five catastrophes that shocked the nation in the half century after World War II, a time when service-oriented industries became the nation's leading engines of job growth. Looking to growing areas of economic life in the Western Sunbelt, Kraft touches on the 1947 explosion of the Texas City Monsanto Chemical Company plant, the 1956 airliner collision over the Grand Canyon, the hospital collapses following the 1971 San Fernando earthquake, the 1980 fire at the Las Vegas MGM Grand, and the 1995 bombing of the Oklahoma City Federal Building. These incidents destroyed places of employment that seemed safe and affected a relatively wide range of working people, including highly trained, salaried professionals and blue- and white-collar groups. And each took a toll on the general public, increasing fears that anyone could be in danger of being killed or injured and putting pressure on public officials to prevent similar tragedies in the future. As Kraft considers how these tragedies transformed individual lives and specific work environments, he describes how employees, employers, and public leaders reacted to each event. Presented chronologically, his studies offer a unique and sobering outlook on the rise of a now vital and integral part of the national economy. They also underscore the ubiquity and persistence of workplace disasters in American history while building on and challenging literature about the impact of World War II in the American West. Within a broader frame, they speak to the double-edged nature of modern life.
Author: Brent Waters
Publisher: Westminster John Knox Press
ISBN: 161164691X
Category : Religion
Languages : en
Pages : 260
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Book Description
Just Capitalism is a Christian moral defense of economic globalization as a system that is well-suited to provide the necessary material needs that are prerequisite for human community and flourishing. Global-based market exchange offers the development and distribution of the goods of creation for humans to enjoy and share. Globalization also offers "the most realistic and promising way of exercising a preferential option for the poor." Waters argues that economic globalization, and thus capitalism, is a necessary condition for sustaining human life but not a sufficient condition for enabling human flourishing. Even though globalization is generally compatible with Christian theological and moral claims and can realistically facilitate the well-being of the human family, it must be reoriented toward koinoniahuman community, communication, fellowshipas the global economy's primary goal in order to help actualize human flourishing. Readers will gain insight about how economic globalization (and thus capitalism) is good for the human family and can be made better by certain reorientations that are compatible with Christian moral values. Waters provides a mature and civil counterargument against knee-jerk condemnations of economic globalization and capitalism.
Author: Douglas Dowd
Publisher: Pluto Press (UK)
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Holding that mainstream economics serves to obscure actual understanding of the economy, retired economist Dowd presents seven essays that attempt to explain for a lay audience the contributions of some of strands of critical economics. Essays discuss Karl Marx, Thorstein Veblen, Gramsci, critical institutionalism, post Keynesian economics, Paul Sweezy, and Amartya Sen. Distributed by Stylus. Annotation copyrighted by Book News, Inc., Portland, OR
Author: Francesco Boldizzoni
Publisher: Harvard University Press
ISBN: 0674919327
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
Intellectuals since the Industrial Revolution have been obsessed with whether, when, and why capitalism will collapse. This riveting account of two centuries of failed forecasts of doom reveals the key to capitalism’s durability. Prophecies about the end of capitalism are as old as capitalism itself. None have come true. Yet, whether out of hope or fear, we keep looking for harbingers of doom. In Foretelling the End of Capitalism, Francesco Boldizzoni gets to the root of the human need to imagine a different and better world and offers a compelling solution to the puzzle of why capitalism has been able to survive so many shocks and setbacks. Capitalism entered the twenty-first century triumphant, its communist rival consigned to the past. But the Great Recession and worsening inequality have undermined faith in its stability and revived questions about its long-term prospects. Is capitalism on its way out? If so, what might replace it? And if it does endure, how will it cope with future social and environmental crises and the inevitable costs of creative destruction? Boldizzoni shows that these and other questions have stood at the heart of much analysis and speculation from the early socialists and Karl Marx to the Occupy Movement. Capitalism has survived predictions of its demise not, as many think, because of its economic efficiency or any intrinsic virtues of markets but because it is ingrained in the hierarchical and individualistic structure of modern Western societies. Foretelling the End of Capitalism takes us on a fascinating journey through two centuries of unfulfilled prophecies. An intellectual tour de force and a plea for political action, it will change our understanding of the economic system that determines the fabric of our lives.
Author: Immanuel Maurice Wallerstein
Publisher: Oxford University Press
ISBN: 0199330859
Category : Business & Economics
Languages : en
Pages : 199
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Book Description
In Does Capitalism Have a Future?, the prominent theorist Georgi Derleugian has gathered together a quintet of eminent macrosociologists to assess whether the capitalist system can survive.
Author: William E. Connolly
Publisher: Duke University Press
ISBN: 0822381230
Category : Political Science
Languages : en
Pages : 194
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Book Description
Capitalism and Christianity, American Style is William E. Connolly’s stirring call for the democratic left to counter the conservative stranglehold over American religious and economic culture in order to put egalitarianism and ecological integrity on the political agenda. An eminent political theorist known for his work on identity, secularism, and pluralism, Connolly charts the path of the “evangelical-capitalist resonance machine,” source of a bellicose ethos reverberating through contemporary institutional life. He argues that the vengeful vision of the Second Coming motivating a segment of the evangelical right resonates with the ethos of greed animating the cowboy sector of American capitalism. The resulting evangelical-capitalist ethos finds expression in church pulpits, Fox News reports, the best-selling Left Behind novels, consumption practices, investment priorities, and state policies. These practices resonate together to diminish diversity, forestall responsibility to future generations, ignore urban poverty, and support a system of extensive economic inequality. Connolly describes how the evangelical-capitalist machine works, how its themes resound across class lines, and how it infiltrates numerous aspects of American life. Proposing changes in sensibility and strategy to challenge this machine, Connolly contends that the liberal distinction between secular public and religious private life must be reworked. Traditional notions of unity or solidarity must be translated into drives to forge provisional assemblages comprised of multiple constituencies and creeds. The left must also learn from the political right how power is infused into everyday institutions such as the media, schools, churches, consumption practices, corporations, and neighborhoods. Connolly explores the potential of a “tragic vision” to contest the current politics of existential resentment and political hubris, explores potential lines of connection between it and theistic faiths that break with the evangelical right, and charts the possibility of forging an “eco-egalitarian” economy. Capitalism and Christianity, American Style is William E. Connolly’s most urgent work to date.
Author: Richard A. Posner
Publisher: Harvard University Press
ISBN: 9780674051294
Category : Business & Economics
Languages : en
Pages : 372
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Book Description
The financial and economic crisis that began in 2008 is the most alarming of our lifetime because of the warp-speed at which it is occurring. How could it have happened, especially after all that we've learned from the Great Depression? Why wasn't it anticipated so that remedial steps could be taken to avoid or mitigate it? What can be done to reverse a slide into a full-blown depression? Why have the responses to date of the government and the economics profession been so lackluster? Richard Posner presents a concise and non-technical examination of this mother of all financial disasters and of the, as yet, stumbling efforts to cope with it. No previous acquaintance on the part of the reader with macroeconomics or the theory of finance is presupposed. This is a book for intelligent generalists that will interest specialists as well. Among the facts and causes Posner identifies are: excess savings flowing in from Asia and the reckless lowering of interest rates by the Federal Reserve Board; the relation between executive compensation, short-term profit goals, and risky lending; the housing bubble fuelled by low interest rates, aggressive mortgage marketing, and loose regulations; the low savings rate of American people; and the highly leveraged balance sheets of large financial institutions. Posner analyzes the two basic remedial approaches to the crisis, which correspond to the two theories of the cause of the Great Depression: the monetarist--that the Federal Reserve Board allowed the money supply to shrink, thus failing to prevent a disastrous deflation--and the Keynesian--that the depression was the product of a credit binge in the 1920's, a stock-market crash, and the ensuing downward spiral in economic activity. Posner concludes that the pendulum swung too far and that our financial markets need to be more heavily regulated. Read Richard Posner's blog, and his latest article in The Atlantic.
Author: Christopher Ketcham
Publisher:
ISBN: 0735220980
Category : History
Languages : en
Pages : 434
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Book Description
"The public lands of the western United States comprise some 450 million acres of grassland, steppe land, canyons, forests, and mountains. It's an American commons, and it is under assault as never before. Journalist Christopher Ketcham has been documenting the confluence of commercial exploitation and governmental misconduct in this region for over a decade. His revelatory book takes the reader on a journey across these last wild places, to see how capitalism is killing our great commons. Ketcham begins in Utah, revealing the environmental destruction caused by unregulated public lands livestock grazing, and exposing rampant malfeasance in the federal land management agencies, who have been compromised by the profit-driven livestock and energy interests they are supposed to regulate. He then turns to the broad effects of those corrupt politics on wildlife. He tracks the Department of Interior's failure to implement and enforce the Endangered Species Act--including its stark betrayal of protections for the grizzly bear and the sage grouse--and investigates the destructive behavior of U.S. Wildlife Services in their shocking mass slaughter of animals that threaten the livestock industry. Along the way, Ketcham talks with ecologists, biologists, botanists, former government employees, whistleblowers, grassroots environmentalists and other citizens who are fighting to protect the public domain for future generations. This Land is a colorful muckraking journey--part Edward Abbey, part Upton Sinclair--exposing the rot in American politics that is rapidly leading to the sell-out of our national heritage"--
Author: Jeremy Rifkin
Publisher: Macmillan + ORM
ISBN: 1137437766
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
The New York Times–bestselling author describes how current trends will create an era when anything and everything is available for almost nothing. In The Zero Marginal Cost Society, New York Times–bestselling author Jeremy Rifkin uncovers a paradox at the heart of capitalism that has propelled it to greatness but is now taking it to its death—the inherent entrepreneurial dynamism of competitive markets that drives productivity up and marginal costs down, enabling businesses to reduce the price of their goods and services in order to win over consumers and market share. (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces. Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with an Energy Internet and Logistics Internet to create a new technology platform that connects all. There are billions of sensors feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods. The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and “exchange value” in the capitalist marketplace is increasingly replaced by “sharable value” on the Collaborative Commons. Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.
