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“Democracy is no longer writing the rules for capitalism; instead it is the other way around. With his deep insight and wide learning, Kuttner is among our best guides for understanding how we reached this point and what’s at stake if we stay on our current path.”—Heather McGhee, president of Demos With a new Afterword In the past few decades, the wages of most workers have stagnated, even as productivity increased. Social supports have been cut, while corporations have achieved record profits. What is going on? According to Robert Kuttner, global capitalism is to blame. By limiting workers’ rights, liberating bankers, and allowing corporations to evade taxation, raw capitalism strikes at the very foundation of a healthy democracy. Capitalism should serve democracy and not the other way around. One result of this misunderstanding is the large number of disillusioned voters who supported the faux populism of Donald Trump. Charting a plan for bold action based on political precedent, Can Democracy Survive Global Capitalism? is essential reading for anyone eager to reverse the decline of democracy in the West.
The provocative political thinker asks if it will be with a bang or a whimper In How Will Capitalism End? the acclaimed analyst of contemporary politics and economics Wolfgang Streeck argues that capitalism is now in a critical condition. Growth is giving way to secular stagnation; inequality is leading to instability; and confidence in the capitalist money economy has all but evaporated. Capitalism’s shotgun marriage with democracy since 1945 is breaking up as the regulatory institutions restraining its advance have collapsed, and after the final victory of capitalism over its enemies no political agency capable of rebuilding them is in sight. The capitalist system is stricken with at least five worsening disorders for which no cure is at hand: declining growth, oligarchy, starvation of the public sphere, corruption and international anarchy. In this arresting book Wolfgang Streeck asks whether we are witnessing a long and painful period of cumulative decay: of intensifying frictions, of fragility and uncertainty, and of a steady succession of “normal accidents.”
"Originally published in 2015 by Allen Lane, an imprint of Penguin Random House, Great Britain"--Title page verso.
A new book from one of the most cited authors in the humanities and social sciences
*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.
Keynes is one of the most important and influential economists who ever lived. It is almost universally believed that Keynes wrote his magnum opus, The General Theory of Employment, Interest and Money, to save capitalism from the socialist, communist, and fascist forces that were rising up during the Great Depression era. This book argues that this was not the case with respect to socialism. Tracing the evolution of Keynes’s views on policy from WWI until his death in 1946, Crotty argues that virtually all post-WWII "Keynesian" economists misinterpreted crucial parts of Keynes’s economic theory, misunderstood many of his policy views, and failed to realize that his overarching political objective was not to save British capitalism, but rather to replace it with Liberal Socialism. This book shows how Keynes’s Liberal Socialism began to take shape in his mind in the mid-1920s, evolved into a more concrete institutional form over the next decade or so, and was laid out in detail in his work on postwar economic planning at Britain’s Treasury during WWII. Finally, it explains how The General Theory provided the rigorous economic theoretical foundation needed to support his case against capitalism in support of Liberal Socialism. Offering an original and highly informative exposition of Keynes’s work, this book should be of great interest to teachers and students of economics. It should also appeal to a general audience interested in the role the most important economist of the 20th century played in developing the case against capitalism and in support of Liberal Socialism. Keynes Against Capitalism is especially relevant in the context of today’s global economic and political crises.
What would a fair and equal society actually look like? The world-renowned economist and bestselling author Yanis Varoufakis presents his radical and subversive answer in a work of speculative fiction that recalls William Morris and William Gibson The year: 2035. At a funeral for Iris, a revolutionary leftist feminist, Yango is approached by Costa, Iris’s closest comrade, who urges him to carry out Iris’s last wish: plough into her secret diaries to tell their story. “But”, Costa insists “leave out anything that might help Big Tech replicate my technologies!” That night Yango delves into Iris’s diaries. In them he discovers a chronicle of how Costa’s revolutionary technologies had unveiled an actually existing, fully democratized, postcapitalist society. Suddenly he understands Costa’s obsession with the hackers trying to steal his secrets. So begins Yanis Varoufakis’s extraordinary novelistic thought-experiment, where the world-famous economist offers an invigorating and deeply moving vision of an alternative reality. Another Now tells the story of Costa, a brilliant but deeply disillusioned, computer engineer, who creates a revolutionary technology that will allow the user a “glimpse of a life beyond their dreams” but will not enslave them. But an accident during one of its trial runs unveils a cosmic wormhole where Costa meets his DNA double, who is living in a 2025 very different than the one Costa is living in. In this parallel 2025 a global hi-tech uprising, begun in the wake of the collapse of 2008, has birthed a post-capitalist world in which work, money, land, digital networks and politics have been truly democratized. Banks have been eliminated, as well as predatory, data-mining digital monopolies; the gig economy is no more; and the young are free to experiment with different careers and to study ”non-lucrative topics, from Sumerian pottery to astrophysics.” Intoxicated, Costa travels to England to tell Iris, his old comrade, and her neighbor, Eva, a recovering banker turned neoliberal economics professor, of the parallel universe he has discovered. Costa eventually leads them back to his workshop in America where Iris and Eva meet their own doubles, and confront hard truths about themselves and the daunting political challenge that "the Other Now" presents. But, as their obsession with the Other Now deepens, time begins to run out, as the wormhole begins to deteriorate and hackers begin to unleash new attacks on Costa’s technology. The trio have to make a choice: which 2025 do they want to live in? Varoufakis has been claiming for a while that we already live in postcapitalist times. That, since the 2008 crisis, capitalism has been morphing into technofeudalism. Another Now, a riveting work of speculative fiction, shows that there is a realistic, democratic alternative to the technofeudalpostcapitalist dystopia taking shape all around us. It also confronts us with the greatest question: how far are we willing to go to bring it about?
Few beliefs seem more fundamental to American conservatism than faith in the free market. Yet throughout American history, many of the major conservative intellectual and political figures have harbored deep misgivings about the unfettered market and its disruption of traditional values, hierarchies, and communities. In Conservatives Against Capitalism, Peter Kolozi traces the history of conservative skepticism about the influence of capitalism on politics, culture, and society. Kolozi discusses conservative critiques of capitalism—from its threat to the Southern way of life to its emasculating effects on American society to the dangers of free trade—considering the positions of a wide-ranging set of individuals, including John Calhoun, Theodore Roosevelt, Russell Kirk, Irving Kristol, and Patrick J. Buchanan. He examines the ways in which conservative thought went from outright opposition to capitalism to more muted critiques, ultimately reconciling itself to the workings and ethos of the market. By analyzing the unaddressed historical and present-day tensions between capitalism and conservative values, Kolozi shows that figures regarded as iconoclasts belong to a coherent tradition, and he creates a vital new understanding of the American conservative pantheon.
Not to repeat past mistakes: the sudden resurgence of a sympathetic interest in social democracy is a response to the urgent need to draw lessons from the history of the socialist movement. After several decades of analyses worthy of an ostrich, some rudimentary facts are being finally admitted. Social democracy has been the prevalent manner of organization of workers under democratic capitalism. Reformist parties have enjoyed the support of workers.