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As we struggle with the legacy of the crisis and with the prospect of accelerating environmental degradation, it is time to ask not what we can do for capitalism but what capitalism can do for us, as citizens of a democratic society. In Civic Capitalism, Colin Hay and Anthony Payne build on their influential analysis of the crisis of the Anglo-liberal growth model to set out a coherent account of the steps required to build an alternative that is more sustainable socially, economically and environmentally. They argue that it is time to move on from the Anglo-liberal model of capitalism whose failings were so cruelly exposed by the crisis. They outline a new model that will work better in advanced capitalist societies, showing how this might be acheived in Britain today. They call this civic capitalism the governance of the market, by the state, in the name of the people, to deliver collective public goods, equity and social justice. This reverses the long ascendant logic of Anglo-liberalism in which citizens have been made to answer to the perceived logics of the capitalism they have been made to serve. The crisis shows us that we can no longer be driven by the perceived imperatives of the old model and by those who have claimed for far too long and, as it turns out, falsely to be able to discern for us the imperatives of the market. It is now time to ask what capitalism can do for us and not what we can do for capitalism.
Offering a positive formulation of the moral practices that are basic to the civic institution of childhood, citizenship, and social justice, Civic Capitalism expands the economist's concept of human capital to include health, education, and other social transfers that enrich civic capital formation. John O'Neill demonstrates how this development has become the political core of capitalist societies in North America and Europe whose welfare regimes are continuously contested yet intrinsic to ideals of citizenship and social justice. Civic Capitalism examines the current surrender to global capitalism and market elites that exploit rich national niches of civic society, education, health, the rule of law, and social security, and challenges it to re-focus on the needs of children and the poor. Elite ideologies of anti-governance and anti-taxation are indifferent to the needs of society's most vulnerable, and fail to realize that inequality, ignorance, and sickness are the most present impediments to economic growth and democracy. O'Neill gives moral voice to children and the state of childhood – the site where our notions of well-being (health, education, human capital) are tested. His research draws upon the classical tradition of critical political economy and social policy in Galbraith, Rawls, and Tawney, to name a few. Working within this tradition, he provides a grammar of civic childhood and the wealth of nations.
As we struggle with the legacy of the crisis and with the prospect of accelerating environmental degradation, it is time to ask not what we can do for capitalism but what capitalism can do for us, as citizens of a democratic society. In Civic Capitalism, Colin Hay and Anthony Payne build on their influential analysis of the crisis of the Anglo-liberal growth model to set out a coherent account of the steps required to build an alternative that is more sustainable socially, economically and environmentally. They argue that it is time to move on from the Anglo-liberal model of capitalism whose failings were so cruelly exposed by the crisis. They outline a new model that will work better in advanced capitalist societies, showing how this might be acheived in Britain today. They call this civic capitalism the governance of the market, by the state, in the name of the people, to deliver collective public goods, equity and social justice. This reverses the long ascendant logic of Anglo-liberalism in which citizens have been made to answer to the perceived logics of the capitalism they have been made to serve. The crisis shows us that we can no longer be driven by the perceived imperatives of the old model and by those who have claimed for far too long and, as it turns out, falsely to be able to discern for us the imperatives of the market. It is now time to ask what capitalism can do for us and not what we can do for capitalism.
"William H. Sewell, Jr. turns to the experience of commercial capitalism to show how the commodity form abstracted social relations. The increased independence, flexibility, and anonymity of market relations made equality between citizens not only conceivable but attractive. Commercial capitalism thus found its way into the interstices of this otherwise rigidly hierarchical society, coloring social relations and paving the way for the establishment of civic equality"--
This book concentrates upon how economic rationalities have been embedded into particular historical practices, cultures, and moral systems. Through multiple case-studies, situated in different historical contexts of the modern West, the book shows that the development of economic rationalities takes place in the meeting with other regimes of thought, values, and moral discourses. The book offers new and refreshing insights, ranging from the development of early economic thinking to economic aspects and concepts in the works of classical thinkers such as Thomas Hobbes, John Locke and Karl Marx, to the role of economic reasoning in contemporary policies of art and health care. With economic rationalities as the read thread, the reader is offered a unique chance of historical self-awareness and recollection of how economic rationality became the powerful ideological and moral force that it is today.
This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls & lsquo; cognitive capitalism & rsquo;
Nineteenth-century Trenton, New Jersey, was a booming commercial and manufacturing center for iron, rubber, steel cables, machine tools, and pottery. Trenton's golden age lasted until the 1920s, when many local industries were bought out by national companies. The story of the subsequent social, political, and economic decline of Trenton is also the story of twentieth-century urban America. John Cumbler analyzes the decline of Trenton in terms of the transition from civic capitalism to national capitalism.
Capitalism is the only complex system known to us that can provide an efficient and innovative economy, but the financial crisis has brought out the pernicious side of capitalism and shown that it remains dependent on the state to rescue it from its own deficiencies. Can capitalism be reshaped so that it is fit for society, or must we acquiesce to the neoliberal view that society will be at its best when markets are given free rein in all areas of life? The aim of this book is to show that the acceptance of capitalism and the market does not require us to accept the full neoliberal agenda of unrestrained markets, insecurity in our working lives, and neglect of the environment and of public services. In particular, it should not mean supporting the growing dominance of public life by corporate wealth. The world’s most successful mature economies are those that fully embrace both the discipline of the market and the need for protection against its negative outcomes. Indeed, a continuing, unresolved clash between these two forces is itself a major source of vitality and innovation for economy and society. But maintenance of that tension depends on the enduring strength of trade unions and other critical groups in civil society - a strength that is threatened by neoliberalism’s increasingly intolerant onward march. Outlining the principles for a renewed and more assertive social democracy, this timely and important book shows that real possibilities exist to create a better world than that which is being offered by the wealthy elites who dominate our public and private lives.
Bill Gates's Five Books for Summer Reading 2019 From world-renowned economist Paul Collier, a candid diagnosis of the failures of capitalism and a pragmatic and realistic vision for how we can repair it. Deep new rifts are tearing apart the fabric of the United States and other Western societies: thriving cities versus rural counties, the highly skilled elite versus the less educated, wealthy versus developing countries. As these divides deepen, we have lost the sense of ethical obligation to others that was crucial to the rise of post-war social democracy. So far these rifts have been answered only by the revivalist ideologies of populism and socialism, leading to the seismic upheavals of Trump, Brexit, and the return of the far-right in Germany. We have heard many critiques of capitalism but no one has laid out a realistic way to fix it, until now. In a passionate and polemical book, celebrated economist Paul Collier outlines brilliantly original and ethical ways of healing these rifts—economic, social and cultural—with the cool head of pragmatism, rather than the fervor of ideological revivalism. He reveals how he has personally lived across these three divides, moving from working-class Sheffield to hyper-competitive Oxford, and working between Britain and Africa, and acknowledges some of the failings of his profession. Drawing on his own solutions as well as ideas from some of the world’s most distinguished social scientists, he shows us how to save capitalism from itself—and free ourselves from the intellectual baggage of the twentieth century.
In this resource the authors integrate a wide array of organizations founded upon a social mission - social enterprises, nonprofits, co-operatives, credit unions, and community development associations - under the rubric of the 'social economy.' This framework facilitates a comprehensive study of Canada's social sector, an area often neglected in the business curricula despite the important role that these organizations play in Canada's economy. This resource presents a unique set of case studies as well as chapters on organizational design and governance, social finance and social accounting, and accountability. The examples provide much needed context for students and allow for an original and in-depth examination of the relationships between Canada's social infrastructure and the public and private sectors. With this work, Quarter, Mook, and Armstrong illuminate a neglected facet of business studies to further our understanding of the Canadian economy.