What capitalism needs: forgotten lessons of great economists

By:

Campbell, John L

Contributor(s):

Hall, John A

Material type: Text

TextPublication details: Cambridge University Press Cambridge 2021Description: xii, 299 pISBN:

9781108487825

Subject(s):

DDC classification:

330.122 CAM

Summary: From unemployment to Brexit to climate change, capitalism is in trouble and ill-prepared to cope with the challenges of the coming decades. How did we get here? While contemporary economists and policymakers tend to ignore the political and social dimensions of capitalism, some of the great economists of the past - Adam Smith, Friedrich List, John Maynard Keynes, Joseph Schumpeter, Karl Polanyi and Albert Hirschman - did not make the same mistake. Leveraging their insights, sociologists John L. Campbell and John A. Hall trace the historical development of capitalism as a social, political, and economic system throughout the twentieth and early twenty-first centuries. They draw comparisons across eras and around the globe to show that there is no inevitable logic of capitalism. Rather, capitalism's performance depends on the strength of nation-states, the social cohesion of capitalist societies, and the stability of the international system - three things that are in short supply today. Recovers the forgotten insights of great economists of the past Traces the historical development of capitalism as a social, political and economic system throughout the twentieth and early twenty-first centuries Draws lessons from comparisons across the globe and across different eras Explains why capitalism today is failing

List(s) this item appears in: Public Policy & General Management

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Public Policy & General Management	330.122 CAM (Browse shelf(Opens below))	1	Available		004250

Table of Contents
1. Sociology from economics
2. Phoenix from the ashes
3. Storm clouds
4. Nationalism and social cohesion
5. State failure
6. What next?

From unemployment to Brexit to climate change, capitalism is in trouble and ill-prepared to cope with the challenges of the coming decades. How did we get here? While contemporary economists and policymakers tend to ignore the political and social dimensions of capitalism, some of the great economists of the past - Adam Smith, Friedrich List, John Maynard Keynes, Joseph Schumpeter, Karl Polanyi and Albert Hirschman - did not make the same mistake. Leveraging their insights, sociologists John L. Campbell and John A. Hall trace the historical development of capitalism as a social, political, and economic system throughout the twentieth and early twenty-first centuries. They draw comparisons across eras and around the globe to show that there is no inevitable logic of capitalism. Rather, capitalism's performance depends on the strength of nation-states, the social cohesion of capitalist societies, and the stability of the international system - three things that are in short supply today.

Recovers the forgotten insights of great economists of the past
Traces the historical development of capitalism as a social, political and economic system throughout the twentieth and early twenty-first centuries
Draws lessons from comparisons across the globe and across different eras
Explains why capitalism today is failing

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