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Capitalism Unleashed: Finance, Globalization, and Welfare

by Andrew Glyn

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Editorial Reviews
Product Description
This accessible and persuasive book challenges the notion of our capitalist destiny. It provides a clear and concise history of the problems facing the economies of Europe, Japan, and the US during the latter half of the twentieth century and questions whether capitalism has really brought the levels of economic growth and prosperity that were hoped for. Andrew Glyn then looks at the impact that the rapidly developing economies of China and the South are likely to have on the older economies of the North. As the race is on to maintain growth and protect competitive advantage, Glyn asks: is the "race-to-the bottom" inevitable as the anti-globalizers predict, with welfare states being dismantled to meet competitive demands? Or is there an alternative model, which sees a strong commitment to welfare provision as essential to economic growth? Can we afford not to tackle inequality at home as well as abroad?


All Customer Reviews
Average Customer Review:4 out of 5 stars
2 of 2 people found the following review helpful:

4 out of 5 starsa great take on the recent developments in capitalism, 2008-08-03
The late Andrew Glyn was one of the foremost British political economists. "Capitalism Unleashed" is a very well-researched take on the developments (mostly) in rich economies after WW2 - the Golden Age capitalism and, most importantly, the current neoliberal era that started emerging in the 1970s.

The book covers the turbulent situation in the 1970s (union militancy, high inflation, profit squeeze, and other threats to capital), the reaction that followed (a return to fiscal and monetary orthodoxy, privatization, and deregulation), the explosion in size of the financial sector and its repercussions (financial volatility, the drive for shareholder value), globalization (trade, financial flows), the change in the position of labor, economic growth, the welfare states, and inequality. All the chapters are informative and valuable. Glyn tries to convey relevant nuances when possible and delivers a good glimpse of all the phenomena that he sets out to discuss. However, although the author intended to make the book widely accessible, the narrative is sometimes far from memorable which makes it very likely that the average reader will walk away with only certain general ideas, without the nuances that Glyn so painstakingly documents.

That is my only complaint. Otherwise, this book deserves attention, especially if you care about recent and possible future developments in capitalism and would also like some additional left-wing perspective.




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