Redefining Capitalism In Global Economic Development

Redefining Capitalism in Global Economic Development reconsiders capitalism by taking into account the unfolding forces of economic globalization, especially in Asian economies. It explores the economic implications and consequences of recent financial crises, terrorism, ultra-low interest rates that are decades-long, debt-prone countries and countries with large trade surpluses. The book illuminates these economic implications and consequences through a framework of capitalist ideologies and concepts, recognizing that Asia is redefining capitalism today. The author, Li, seeks not to describe why nations fail, but how the sustainability of capitalism can save the world. Merges capitalist theory with global events, as few books do Emphasizes ways to interpret capitalist ideas in light of current global affairs Reframes capitalism via economics, supported by insights from political science, sociology, international relations and peace studies

"Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.

Studies conceptual foundations of GVC analysis, twin pillars of 'governance' and 'upgrading', and detailed cases of emerging economies.

In this book, Kalyan Sanyal reviews the traditional notion of capitalism and propounds an original theory of capitalist development in the post-colonial context. In order to substantiate his theory, concepts such as primitive accumulation, governmentality and post-colonial capitalist formation are discussed in detail. Analyzing critical questions from a third world perspective such as: Will the integration into the global capitalist network bring to the third world new economic opportunities? Will this capitalist network make the third world countries an easy prey for predatory multinational corporations? The end result is a discourse, drawing on Marx and Foucault, which envisages the post-colonial capitalist formation, albeit in an entirely different light, in the era of globalization.

What happened to the so-called "golden age" of the postwar boom? Unprecedented rates of economic growth, profitability, and wage increases during the 1950s and 60s have given way to a global capitalist economy in disarray. Reassessing common interpretations of postwar economic history and geography, this book focuses on the evolution of the global economy from the 1950s to the present. Based on extensive research, the book assesses histories of growth, profitability, and technological change in core industrial economies (Japan and the USA), raw material dependent economies (Australia and Canada), and several newly industrializing countries (Brazil, South Korea, and Taiwan). The authors build on standard models of economic change to incorporate new developments in regional dynamics: they use nonlinear, nonequilibrium, and evolutionary arguments to frame discussions of profit rates, technological change, and interregional capital flows.

A groundbreaking new historical analysis of how global capitalism and advanced democracies mutually support each other It is a widespread view that democracy and the advanced nation-state are in crisis, weakened by globalization and undermined by global capitalism, in turn explaining rising inequality and mounting populism. This book, written by two of the world’s leading political economists, argues this view is wrong: advanced democracies are resilient, and their enduring historical relationship with capitalism has been mutually beneficial. For all the chaos and upheaval over the past century—major wars, economic crises, massive social change, and technological revolutions—Torben Iversen and David Soskice show how democratic states continuously reinvent their economies through massive public investment in research and education, by imposing competitive product markets and cooperation in the workplace, and by securing macroeconomic discipline as the preconditions for innovation and the promotion of the advanced sectors of the economy. Critically, this investment has generated vast numbers of well-paying jobs for the middle classes and their children, focusing the aims of aspirational families, and in turn providing electoral support for parties. Gains at the top have also been shared with the middle (though not the bottom) through a large welfare state. Contrary to the prevailing wisdom on globalization, advanced capitalism is neither footloose nor unconstrained: it thrives under democracy precisely because it cannot subvert it. Populism, inequality, and poverty are indeed great scourges of our time, but these are failures of democracy and must be solved by democracy.

Identifies ten potential dangers to the global market system, providing examples of companies that are thriving and describing how a businesses must develop corporate strategies that are innovative and strenghten institutions at community, national, and international levels.

EPUB and EPDF available Open Access under CC-BY-NC-ND licence. Today, production processes have become fragmented with a range of activities divided among firms and workers across borders. These global value chains are being strongly promoted by international organisations, such as the World Bank and the World Trade Organization, but social and political backlash is mounting in a growing variety of forms. This ambitious volume brings together academics and activists from Europe to address the social and environmental imbalances of global production. Thinking creatively about how to reform the current economic system, this book will be essential reading for those interested in building sustainable alternatives at local, regional and global levels.