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

by HarryShutt (Author)

• Used

  Paperback
  1998

  $3.45

  Recent instability in financial markets has put paid to the idea that the foundations of the global economy are basically sound. This timely book forsakes the shibboleths of both the Left and liberal economists to examine afresh the actual behaviour - 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 harbouring illusions about the capacity of mere shifts in policy to return us to the golden era of high growth and full employment. What will soon become inevitable is a wholesale redrawing of economic institutions and rules of the game.