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Today there is widespread recognition that capitalism is the socioeconomic system of choice. This volume, perhaps the best single-volume assessment of this economic model and how it emerged, contributes to the understanding of the historic role of capitalism. After reviewing the gestation of the system, it explains the emergence of full-blown capitalism in the eighteenth century, taking it into the nineteenth and its link to the industrial revolution. The primary focus, however, is on the twentieth century, in which capitalism faced and met challenges due to world wars and depression with the aid of interventionist policies, notably Keynesian economics and the welfare state. But the failure of the postwar policy consensus to cope with the twin problems of inflation and slow economic growth led to a resurgence of greater reliance on unalloyed capitalism. Capitalist values so permeate modern culture in America that to question them seems like heresy. In 1989, the economist Robert L. Heilbroner, who had been a perceptive student of capitalism and socialism for decades, proclaimed "The Triumph of Capitalism," arguing that the contest of economic systems was over and the victory of capitalism was unambiguous. Fifteen years later, C. Fred Bergsten, Director of the Institute for International Economics, reinforced this view: "The U.S. model of capitalism and globalization dominates thinking around the world." Writer Russell Baker, dismayed by perceived degrading effects of market-obsessed management on journalism, observed that "belief in the virtue of maximized profits has acquired something like sanctity in American life." An appreciation of economic and social history, and the accompanying clash of ideas, is helpful in providing a context in which ongoing challenges may be evaluated. It is important to know that what is understood to be capitalism has changed significantly over time. The purpose of this book is to provide such context. Written by an economist, but accessible to a general public, this book is a wide-ranging assessment of today's dominant economic system and its historical development.
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Triumph of Politics offers a comparative and historical interpretation of Venezuela's Chavez, Bolivia's Morales and Ecuador's Correa - South America's most prominent ‘21st century socialists'. It argues that the claims of these 21st century socialists should be taken seriously even though not necessarily at face value. The authors show how the consensual market oriented policymaking that characterized almost all of South America in the 1990s has now given way to something quite different. Polarization and intense political conflict have returned to much of the region. Although the Left has not always been the beneficiary of this changed pattern, the ‘21st century' governments of Chavez, Morales and Correa have been agenda setters. The questions raised by their emergence, style of governance and policy orientations resonate across Latin America and beyond. It is likely that the kind of politics with which they have been associated will be influential in the region for quite some time to come.
In this 1998 book, experts in British industrial history analyse the causes of nationalisation in the 1940s.
First Published in 1968. This is a study of the impact of the First WorId War on the role of government in the economy of a country which was the prototype of modern industrial society and focuses on the economic control and social response during 1914 to 1919.
Nationalized Politics asks and answers the question, "how has nationalization influenced US elections across different political eras?" Jamie L. Carson, Joel Sievert, and Ryan D. Williamson look at historical variation in nationalization through an analysis of congressional elections from 1840 to 2020. By examining roughly 180 years of elections, the authors leverage considerable differences in electoral competition, electoral rules, nationalization, polarization, and partisan advantage via the incumbency advantage. Moreover, Carson, Sievert, and Williamson employ a unique survey design to capture citizen attitudes toward the nationalization of politics to further consider the question of how nationalization is currently shaping politics.