The Trouble with Capitalism: An Enquiry into the Causes of Global Economic Failure

Overview

We have grown accustomed to the notions of the end of history and that the current variant of free market capitalism is the only game in town. But how sound are the foundations of the global economy? The remarkable analysis contained in this book forsakes the shibboleths of both the Left and liberal economists to examine the actual behavior--patterns and tendencies--of economic institutions in the OECD countries of the 1980s and 90s. The conclusions are disturbing. The author uncovers profound sources of ...
See more details below
Available through our Marketplace sellers.
Other sellers (Paperback)
  • All (9) from $2.59   
  • New (2) from $81.90   
  • Used (7) from $2.59   
Close
Sort by
Page 1 of 1
Showing All
Note: Marketplace items are not eligible for any BN.com coupons and promotions
$81.90
Seller since 2008

Feedback rating:

(194)

Condition:

New — never opened or used in original packaging.

Like New — packaging may have been opened. A "Like New" item is suitable to give as a gift.

Very Good — may have minor signs of wear on packaging but item works perfectly and has no damage.

Good — item is in good condition but packaging may have signs of shelf wear/aging or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Acceptable — item is in working order but may show signs of wear such as scratches or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Used — An item that has been opened and may show signs of wear. All specific defects should be noted in the Comments section associated with each item.

Refurbished — A used item that has been renewed or updated and verified to be in proper working condition. Not necessarily completed by the original manufacturer.

New
1856495663 New. Looks like an interesting title!

Ships from: Naperville, IL

Usually ships in 1-2 business days

  • Standard, 48 States
  • Standard (AK, HI)
$155.00
Seller since 2014

Feedback rating:

(181)

Condition: New
Brand new.

Ships from: acton, MA

Usually ships in 1-2 business days

  • Standard, 48 States
  • Standard (AK, HI)
Page 1 of 1
Showing All
Close
Sort by
Sending request ...

Overview

We have grown accustomed to the notions of the end of history and that the current variant of free market capitalism is the only game in town. But how sound are the foundations of the global economy? The remarkable analysis contained in this book forsakes the shibboleths of both the Left and liberal economists to examine the actual behavior--patterns and tendencies--of economic institutions in the OECD countries of the 1980s and 90s. The conclusions are disturbing. The author uncovers profound sources of instability. Low growth has become endemic. There is a chronic surplus of capital. New technology is not solving either of these problems or structural unemployment. Meanwhile, the pursuit of neo-liberal economic orthodoxy by an emasculated state has only worsened the situation and the evidence of social dislocation is all about us. This is a book that must be read by every politician and thinking citizen still harboring illusions about the capacity of mere shifts in policy to return us to the golden era of the Sixties when high growth and full employment were the norm.
Read More Show Less

Editorial Reviews

Publishers Weekly - Publisher's Weekly
Former senior research consultant with the Economist, Shutt is no laissez-faire Thatcherite. In this succinct analysis, Shutt argues that investors and governments lusting for exponential returns in a contracting economy have pushed global markets to the edge of an abyss. Dismissing supply-siders and the notion that technology and global trade create more and better jobs, his research has found instead increasing structural unemployment, diminishing returns to labor and capital and diminishing ability to tax. He notes, as Western media is loathe to do, that government policies of corporate welfare, privatization and financial bailouts represent an irresponsible transfer of present and future wealth from citizens to corporations, resulting in debilitating government debt that in turn is dumped into the market to stimulate greater returns. Western policies toward the IMF repeatedly cripple less-developed countries with misconceived economic reforms that plunder assets and explode debt. The result is a pyramid scheme in which Western governments pump up global financial markets, underwriting profligate bank practices and manipulating financial markets. Shutt argues that parabolic rises in markets, CEO compensation and political campaign funding masquerade such recycling as real growth. Shutt's solutions posit an encompassing "collective responsibility," whose lack he consistently laments. Shutt is one of the few to expose capitalism's lies and imperfections, faults that critically threaten our democratic survival into the next century. (Aug.)
Library Journal
With the bull market throttling along, interest rates remaining low, inflation nonexistent, and people's expectations for the future high, an optimist would say that a strong economy will surely be with us for a while. But Shutt, a consultant formerly with the Economist Intelligence Unit, takes a more pessimistic view of how capitalism works, pointing to signs of instability that appear to be corroding the global economy--low growth, a surplus of capital, floundering technology, etc. In this thoughtful, if at times overly academic, treatment of the current economic scene, one feels convinced by the end that the collapse of Western civilization as we know it is at hand; given the recent ongoing Asian currency crisis, Shutt may have a point about instability. But the book, in the author's own words, is more "predictive" than "prescriptive," and its lack of any concrete or even coherent alternatives is a major disappointment. For a better discussion, see Lester Thurow's The Future of Capitalism (LJ 11/1/95). Not recommended.--Richard S. Drezen, Washington Post News Research Ctr., Washington, DC
Booknews
Economist Shutt dispels illusions connected with what seems to be a worldwide consensus that laissez-faire capitalism has demonstrated its superiority and is the clear direction for the future. Looking closely at capitalism's history, weak points, and worldwide trends, he asserts that a wholesale redrawing of economic institutions and rules of the game is inevitable. Annotation c. by Book News, Inc., Portland, Or.
Read More Show Less

Product Details

  • ISBN-13: 9781856495660
  • Publisher: Zed Books
  • Publication date: 8/15/1998
  • Pages: 256
  • Product dimensions: 5.37 (w) x 8.51 (h) x 0.77 (d)

Meet the Author

Harry Shutt is a former Senior Research Consultant with the Economist Intelligence Unit.

Read More Show Less

Table of Contents

Introduction 1
1 The Origins of Modern Capitalism: A Brief History to World War II 5
2 The Post-1945 Economic Dispensation in the West 19
3 The End of the Boom and the Neo-classical Reaction 34
4 The Illusion of Orthodoxy 46
5 Incurable Addiction to State Support 63
6 Globalisation and the Power Vacuum 77
7 Technological Nemesis 92
8 Coping with the Capital Glut 110
9 Wider Symptoms of Disintegration: I - The Wreckage of Soviet Communism 133
10 Wider Symptoms of Disintegration: II - Third World Catastrophe 149
11 A Crisis of Legitimacy 166
12 Can the Profits System be Saved? 182
13 Political Paralysis 198
14 Essential Features of a Sustainable World Order 214
Index 231
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)