A strategic guide to building a more democratic and egalitarian future Why is our society so unequal? Why, despite their small numbers, do the rich dominate policy and politics even in democratic countries? Why is it so difficult for working people to organize around common interests? How do we begin to build a more equal and democratic society? Vivek Chibber provides a clear and accessible map of how capitalism works, how it limits the power of working and oppressed people, and how to overcome those limits. The capitalist economy generates incredible wealth but also injustice. Those who own the factories, hotels, and farms always have an advantage over the people who rely on that ownership class for their livelihoods. This inequality in power and income is reflected in the operation of the state, where capitalists are able to exert their will even under relatively democratic conditions. The most important reason is that states depend on the employment and profits from capitalist enterprise for both finances and legitimacy. Every meaningful victory for working people has been won through collective struggle but collective action is very difficult to coordinate. In the final section of the book, Chibber walks the reader through some of the historical attempts to build socialism and presents a vision of how we might, perhaps against the odds, build a socialist future.

This book analyzes key aspects of Marx’s Capital with an eye towards its relevance for an understanding of issues confronting us in the 21st Century. The contributions to this volume suggest that while aspects of Marx’s original analysis must be adjusted to take into account changes that have occurred since its initial publication in 1867, his overall perspective remains necessary for understanding the nature of crises in 21st century. Part I emphasizes the central concepts Marx employed in Capital, including exploitation, capital accumulation, commodity fetishism, and his use of dialectics as a method for baring the underlying relations that define capitalism. Parts II and III extend that focus by addressing the concept of value, fictitious capital, credit and financialization. Parts IV and V offer analyses of several concrete manifestations of contemporary crises from national contexts (Europe, Latin America, China, and the United States). The volume argues that we have to combat the imperatives of capitalism to move towards a more humane and egalitarian future.

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.

Reflecting on the end of communism, the author of the best-selling The Worldly Philosophers examines the many faces of capitalism, looking for the aspects of a market economy that will be most capable of succeeding against today's toughest dilemmas.

With one side of the political aisle proposing increasingly more socialistic and anti-capitalistic ideas, the other side has been quick to defend our country’s great economic model, with good reason. Capitalism--spanning a spectrum from laissez faire to authoritarian--shapes the market economies of all the wealthiest and fastest-growing nations. But does that mean it is perfect as is, and that we would not all benefit from an honest evaluation and reconstruction of the free market system that has shaped our country’s way of economic growth?The truth is, trouble is cracking capitalism’s shiny veneer. In the US, Europe, and Japan, economic growth has slowed down. Wealth is concentrated in the hands of a few; natural resources are exploited for short-term profit; and good jobs are hard to find. In Confronting Capitalism, business expert Philip Kotler explains 14 major problems undermining capitalism, including:• Persistent and increasing poverty• Automation’s effects on job creation• High debt burdens• Steep environmental costs• Boom-bust economic cycles• And moreBut this landmark book does not stop with merely revealing the problems. It also delivers a heartening message: We can turn things around! Movements toward shared prosperity and a higher purpose are reinvigorating companies large and small, while proposals abound on government policies that offer protections without stagnation. Kotler identifies the best ideas, linking private and public initiatives into a force for positive change, and offers suggestions for returning to a healthier, more sustainable capitalism that works for all.

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;

'Dr Donghyun Park is a prominent and rare economist in Asia who can combine frontline economic theories, lively data, and real-time policy analyses. Capitalism in the 21st Century is a masterful book by Dr Park, providing a comprehensive understanding of heterogenous trajectories of economies around the globe and more fundamental mechanisms of the modern capitalistic system. This is a 'must-read' for those who are interested in comparative economic systems, global economy, and international development.'Yasuyuki SawadaChief Economist, Asian Development BankProfessor of Economics, University of Tokyo'Donghyun Park makes clear that capitalism gets a bad rap, in large part because of too much emphasis on capital as in financial engineering, and too much emphasis on capitals as in government protectionism. Park argues a compelling case that genuine capitalism, which is about entrepreneurship, is necessary to solve the big problems most people face around the globe.'Adam S PosenPresident, Peterson Institute of International EconomicsGlobal capitalism is currently suffering from an unmistakable malaise, epitomized by wide and growing inequality that is eroding popular support for capitalism. Such anti-capitalist sentiment, coupled with a growing anti-globalization mood, delivered Brexit in a UK referendum and swept Donald Trump to the US presidency. In Capitalism in the 21st Century, internationally well-regarded economist Dr Donghyun Park articulately explains why more capitalism is needed to tackle global problems such as climate change and inhumane poverty. While defending capitalism against its unfair demonization, the author makes a positive case for entrepreneurial capitalism, which creates wealth and jobs as well as drives human progress. According to the author, reforming the financial industry, which has become a self-serving leviathan, and more fundamentally, tweaking the economic role of the government, which stifles growth-promoting entrepreneurship, are critical to restoring the vitality of capitalism. The book is explicitly written in such a way that the general reader without any background in economics or finance can easily understand it.Related Link(s)