Democracy And The Next American Economy

Progressive intellectual Henry A. J. Ramos believes the United States is at a crossroads, facing the most challenging moment since the civil rights movement of the late 1960s and early 1970s. In fact, absent major new interventions and investments, he sees this moment as a pivotal turning point in the American journey in which political polarization, income and wealth disparity and public violence"€"much of which is race related"€"threaten the very essence and integrity of our democracy and economy. Ramos examines the policies that have contributed to America's decline, including those that have led to the concentration of great wealth in the hands of a few while condemning many to systemic poverty and inequality. Current economic and social trends, he stresses, are unsustainable and call for organized, concerted action by people of conscience and those affected. Ultimately, Ramos provides a roadmap for the future so the United States can continue to provide opportunities for its people and serve again as a leader in the international community. He offers case studies of organizations that have successfully created and administered programs that further equity in society, restore democratic practices, implement better urban and city planning and protect the environment. Demonstrating both the critical importance and real possibility of leveraging prosperity and justice for all Americans, this compelling work is a must-read for anyone interested in democracy, economic restoration and environmental sustainability.

"Never before have so many Americans been more frustrated with our economic system, more fearful that it is failing, or more open to fresh ideas about a new one. The seeds of a new economy--and, if we act upon it, a new system--are forming. What is that next system? It's not corporate capitalism, not state socialism, but something else--something entirely American. In What Then Must We Do?, Gar Alperovitz speaks directly to the reader about why the time is right for a revolutionary new economy movement, what it means to democratize the ownership of wealth, what it will take to build a new system to replace the decaying one--and how to strengthen our communities through cooperatives, worker-owned companies, neighborhood corporations, small and medium-size independent businesses, and publicly owned enterprises. For the growing group of Americans pacing at the edge of confidence in the old system, or already among its detractors, What Then Must We Do? offers an evolutionary, common-sense solution for moving from despair and anger to strategy and action."--Publisher's website.

Americans across the political spectrum have turned away from free market capitalism, calling for more government intervention into the economy. This optimistic book explains how a dynamic, Commercial Republic that benefits all Americans is still possible. "Will someone intent on changing the direction of America’s economy seize on this text and send it far and wide?” —Hugh Hewitt, author, attorney, and national host of The Hugh Hewitt Show “Markets grounded in a commercial republic are what America needs. Gregg shows why.” —Vernon L. Smith, 2002 Nobel Laureate in Economics, Professor of Business Economics and Law at Chapman University One of America’s greatest success stories is its economy. For over a century, it has been the envy of the world. The opportunity it generates has inspired millions of people to want to become American. Today, however, America’s economy is at a crossroads. Many have lost confidence in the country’s commitment to economic liberty. Across the political spectrum, many want the government to play an even greater role in the economy via protectionism, industrial policy, stakeholder capitalism, or even quasi-socialist policies. Numerous American political and business leaders are embracing these ideas, and traditional defenders of markets have struggled to respond to these challenges in fresh ways. Then there is a resurgent China bent on eclipsing the United States’s place in the world. At stake is not only the future of the world’s biggest economy, but the economic liberty that remains central to America’s identity as a nation. But managed decline and creeping statism do not have to be America’s only choices, let alone its destiny. For this book insists that there is an alternative. And that is a vibrant market economy grounded on entrepreneurship, competition, and trade openness, but embedded in what America’s founding generation envisaged as the United States’s future: a dynamic Commercial Republic that takes freedom, commerce, and the common good of all Americans seriously, and allows America as a sovereign-nation to pursue and defend its interests in a dangerous world without compromising its belief in the power of economic freedom.

Post-conflict reconstruction is one of the most pressing political issues today. This book uses economics to analyze critically the incentives and constraints faced by various actors involved in reconstruction efforts. Through this analysis, the book will aid in understanding why some reconstructions are more successful than others.

What, and who, are we working for? A thoughtful assessment on our current society from “probably America’s most prominent Marxist economist” (The New York Times). Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve. One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers managing their own workplaces, as the basis for a genuine political democracy. Here Richard D. Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action. “Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.” —Noam Chomsky, leading public intellectual and author of Hope and Prospects

"Be prepared for a mind-opening experience." -The Christian Century "Highly readable; excellent for students. . . . A tonic and eye-opener for anyone who wants a politics that works." -Jane Mansbridge, Adams Professor, John F. Kennedy School of Government, Harvard University "America Beyond Capitalism comes at a critical time in our history-when we all know our system isn't working but we are not sure what can be done about it. This book takes us outside the confines of orthodox thinking, imagines a new way of living together, and then brings that vision back into reality with a set of eminently practical ideas that promise a truly democratic society." -Howard Zinn, author of A People's History of the United States "Succeeds brilliantly in taking the Jeffersonian spirit into the last bastion of privilege in America, offering workable solutions for making the American economy one that is truly of, by, and for the people." -Jeremy Rifkin, author of The European Dream: How Europe's Vision of the Future Is Quietly Eclipsing the American Dream "The kind of careful, well-researched, and practical alternative progressives have been seeking. And it's more-visionary, hopeful, even inspirational. I highly recommend it." -Juliet Schor, author of The Overspent American: Why We Want What We Don't Need "A compelling and convincing story of the future." -William Greider, author of The Soul of Capitalism: Opening Paths to a Moral Economy

Employing macroeconomic performance as a lens to evaluate democratic institutions, the author uses models of political behavior that allow for opportunism on the part of public officials and shortsightedness on the part of voters to see if democratic institutions lead to inferior macroeconomic performance. We have learned more about how and why democracy can work well or badly in the years since the first edition was published. It was not previously apparent how much the good performance of democracy in the United States was contingent on informal rules and institutions of restraint that are not part of the definition of democracy. Since that first edition, the United States has experienced soaring indebtedness, unintended adverse consequences of housing policy, and massive problems in the financial system. Each of these was permitted or encouraged by the incentives of electoral politics and by limitations on government, the two essential features of democratic institutions.