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The Failure Of The Free Market And Democracy
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Book Synopsis The Failure of the Free Market and Democracy by : Daniel Ritter
Download or read book The Failure of the Free Market and Democracy written by Daniel Ritter and published by Serpent's Tail. This book was released on 2020-02-13 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this wide-ranging but accessible overview, economist Daniel Ritter examines the changing circumstances that have led to the economic decline of the West and the rise of populism. He looks at the effects of globalisation and how increasing mechanisation has fuelled discontent, the collapse of existing communities, and a sense of disenfranchisement. The fault, he argues, lies not with advances in technology, or a lack of growth, but in rising inequality and an over-reliance on the free market. Examining the West's situation in a global context, both in relation to the rise of China and the ascendancy of private interest groups, he claims that the free market has failed, and with it representative democracy, arguing that we must 'update our very notions of work and reward' if we are to survive the current crisis. Informed, lucid and strongly argued, Ritter's compelling analysis is a must-read for anyone concerned to discover the origins of our current economic and political malaise, and its possible solutions.
Book Synopsis The Myth of Democratic Failure by : Donald A. Wittman
Download or read book The Myth of Democratic Failure written by Donald A. Wittman and published by University of Chicago Press. This book was released on 1995 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Myth of Democratic Failure, Donald A. Wittman refutes one of the cornerstone beliefs of economics and political science: that economic markets are more efficient than the processes and institutions of democratic government.
Book Synopsis Free Market Fairness by : John Tomasi
Download or read book Free Market Fairness written by John Tomasi and published by Princeton University Press. This book was released on 2013-05-05 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: A provocative new vision of free market capitalism that achieves liberal ends by libertarian means Can libertarians care about social justice? In Free Market Fairness, John Tomasi argues that they can and should. Drawing simultaneously on moral insights from defenders of economic liberty such as F. A. Hayek and advocates of social justice such as John Rawls, Tomasi presents a new theory of liberal justice. This theory, free market fairness, is committed to both limited government and the material betterment of the poor. Unlike traditional libertarians, Tomasi argues that property rights are best defended not in terms of self-ownership or economic efficiency but as requirements of democratic legitimacy. At the same time, he encourages egalitarians concerned about social justice to listen more sympathetically to the claims ordinary citizens make about the importance of private economic liberty in their daily lives. In place of the familiar social democratic interpretations of social justice, Tomasi offers a "market democratic" conception of social justice: free market fairness. Tomasi argues that free market fairness, with its twin commitment to economic liberty and a fair distribution of goods and opportunities, is a morally superior account of liberal justice. Free market fairness is also a distinctively American ideal. It extends the notion, prominent in America's founding period, that protection of property and promotion of real opportunity are indivisible goals. Indeed, according to Tomasi, free market fairness is social justice, American style. Provocative and vigorously argued, Free Market Fairness offers a bold new way of thinking about politics, economics, and justice—one that will challenge readers on both the left and right.
Book Synopsis Freedom in the World 2018 by : Freedom House
Download or read book Freedom in the World 2018 written by Freedom House and published by Rowman & Littlefield. This book was released on 2019-01-31 with total page 1265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Freedom in the World, the Freedom House flagship survey whose findings have been published annually since 1972, is the standard-setting comparative assessment of global political rights and civil liberties. The survey ratings and narrative reports on 195 countries and fifteen territories are used by policymakers, the media, international corporations, civic activists, and human rights defenders to monitor trends in democracy and track improvements and setbacks in freedom worldwide. The Freedom in the World political rights and civil liberties ratings are determined through a multi-layered process of research and evaluation by a team of regional analysts and eminent scholars. The analysts used a broad range of sources of information, including foreign and domestic news reports, academic studies, nongovernmental organizations, think tanks, individual professional contacts, and visits to the region, in conducting their research. The methodology of the survey is derived in large measure from the Universal Declaration of Human Rights, and these standards are applied to all countries and territories, irrespective of geographical location, ethnic or religious composition, or level of economic development.
Download or read book World on Fire written by Amy Chua and published by Anchor. This book was released on 2004-01-06 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The reigning consensus holds that the combination of free markets and democracy would transform the third world and sweep away the ethnic hatred and religious zealotry associated with underdevelopment. In this revelatory investigation of the true impact of globalization, Yale Law School professor Amy Chua explains why many developing countries are in fact consumed by ethnic violence after adopting free market democracy. Chua shows how in non-Western countries around the globe, free markets have concentrated starkly disproportionate wealth in the hands of a resented ethnic minority. These “market-dominant minorities” – Chinese in Southeast Asia, Croatians in the former Yugoslavia, whites in Latin America and South Africa, Indians in East Africa, Lebanese in West Africa, Jews in post-communist Russia – become objects of violent hatred. At the same time, democracy empowers the impoverished majority, unleashing ethnic demagoguery, confiscation, and sometimes genocidal revenge. She also argues that the United States has become the world’s most visible market-dominant minority, a fact that helps explain the rising tide of anti-Americanism around the world. Chua is a friend of globalization, but she urges us to find ways to spread its benefits and curb its most destructive aspects.
Book Synopsis Freedom From the Market by : Mike Konczal
Download or read book Freedom From the Market written by Mike Konczal and published by The New Press. This book was released on 2021-02-02 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: The progressive economics writer redefines the national conversation about American freedom “Mike Konczal [is] one of our most powerful advocates of financial reform‚ [a] heroic critic of austerity‚ and a huge resource for progressives.”—Paul Krugman Health insurance, student loan debt, retirement security, child care, work-life balance, access to home ownership—these are the issues driving America’s current political debates. And they are all linked, as this brilliant and timely book reveals, by a single question: should we allow the free market to determine our lives? In the tradition of Naomi Klein’s The Shock Doctrine, noted economic commentator Mike Konczal answers this question with a resounding no. Freedom from the Market blends passionate political argument and a bold new take on American history to reveal that, from the earliest days of the republic, Americans have defined freedom as what we keep free from the control of the market. With chapters on the history of the Homestead Act and land ownership, the eight-hour work day and free time, social insurance and Social Security, World War II day cares, Medicare and desegregation, free public colleges, intellectual property, and the public corporation, Konczal shows how citizens have fought to ensure that everyone has access to the conditions that make us free. At a time when millions of Americans—and more and more politicians—are questioning the unregulated free market, Freedom from the Market offers a new narrative, and new intellectual ammunition, for the fight that lies ahead.
Book Synopsis The Lexus and the Olive Tree by : Thomas L. Friedman
Download or read book The Lexus and the Olive Tree written by Thomas L. Friedman and published by HarperCollins UK. This book was released on 2000 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of globalisation as an international system that today directly or indirectly influences the politics, environment, geopolitics and economics of virtually every country in the world.
Book Synopsis Political Bubbles by : Nolan McCarty
Download or read book Political Bubbles written by Nolan McCarty and published by Princeton University Press. This book was released on 2013-05-26 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: How governmental failure led to the 2008 financial crisis—and what needs to be done to avoid another similar event Behind every financial crisis lurks a "political bubble"—policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles—arising from a potent combination of beliefs, institutions, and interests—aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the "popped" financial bubble, and shows how such patterns have occurred repeatedly throughout US history. The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations—including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps—become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future. The first full accounting of how politics produces financial ruptures, Political Bubbles offers timely lessons that all sectors would do well to heed.
Book Synopsis The Failure of Free-Market Economics by : Martin Feil
Download or read book The Failure of Free-Market Economics written by Martin Feil and published by Scribe Publications. This book was released on 2010-03-29 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The basic concept behind free-market economics was simple and seductive: the government should not attempt to pick winners by granting assistance to specific industries, and it should only intervene in the market in circumstances where there has been a substantial market failure.
Book Synopsis Can Democracy Survive Global Capitalism? by : Robert Kuttner
Download or read book Can Democracy Survive Global Capitalism? written by Robert Kuttner and published by W. W. Norton & Company. This book was released on 2018-04-10 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Democracy is no longer writing the rules for capitalism; instead it is the other way around. With his deep insight and wide learning, Kuttner is among our best guides for understanding how we reached this point and what’s at stake if we stay on our current path.”—Heather McGhee, president of Demos With a new Afterword In the past few decades, the wages of most workers have stagnated, even as productivity increased. Social supports have been cut, while corporations have achieved record profits. What is going on? According to Robert Kuttner, global capitalism is to blame. By limiting workers’ rights, liberating bankers, and allowing corporations to evade taxation, raw capitalism strikes at the very foundation of a healthy democracy. Capitalism should serve democracy and not the other way around. One result of this misunderstanding is the large number of disillusioned voters who supported the faux populism of Donald Trump. Charting a plan for bold action based on political precedent, Can Democracy Survive Global Capitalism? is essential reading for anyone eager to reverse the decline of democracy in the West.
Book Synopsis The Limits of the Market by : Paul de Grauwe
Download or read book The Limits of the Market written by Paul de Grauwe and published by Oxford University Press. This book was released on 2017 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paul De Grauwe examines why a healthy mix of market and state seems so difficult and analyses the internal and external limits of the market and the government, and the swing between these two points.
Book Synopsis The Light that Failed by : Ivan Krastev
Download or read book The Light that Failed written by Ivan Krastev and published by Penguin UK. This book was released on 2019-10-31 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A landmark book that completely transforms our understanding of the crisis of liberalism, from two pre-eminent intellectuals Why did the West, after winning the Cold War, lose its political balance? In the early 1990s, hopes for the eastward spread of liberal democracy were high. And yet the transformation of Eastern European countries gave rise to a bitter repudiation of liberalism itself, not only there but also back in the heartland of the West. In this brilliant work of political psychology, Ivan Krastev and Stephen Holmes argue that the supposed end of history turned out to be only the beginning of an Age of Imitation. Reckoning with the history of the last thirty years, they show that the most powerful force behind the wave of populist xenophobia that began in Eastern Europe stems from resentment at the post-1989 imperative to become Westernized. Through this prism, the Trump revolution represents an ironic fulfillment of the promise that the nations exiting from communist rule would come to resemble the United States. In a strange twist, Trump has elevated Putin's Russia and Orbán's Hungary into models for the United States. Written by two pre-eminent intellectuals bridging the East/West divide, The Light that Failed is a landmark book that sheds light on the extraordinary history of our Age of Imitation.
Book Synopsis The Age of Surveillance Capitalism by : Shoshana Zuboff
Download or read book The Age of Surveillance Capitalism written by Shoshana Zuboff and published by PublicAffairs. This book was released on 2019-01-15 with total page 683 pages. Available in PDF, EPUB and Kindle. Book excerpt: The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called "surveillance capitalism," and the quest by powerful corporations to predict and control our behavior. In this masterwork of original thinking and research, Shoshana Zuboff provides startling insights into the phenomenon that she has named surveillance capitalism. The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth. Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new "behavioral futures markets," where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new "means of behavioral modification." The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a "Big Other" operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled "hive" of total connection that seduces with promises of total certainty for maximum profit -- at the expense of democracy, freedom, and our human future. With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future -- if we let it.
Download or read book Edge of Chaos written by Dambisa Moyo and published by Basic Books. This book was released on 2018-04-24 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: From an internationally acclaimed economist, a provocative call to jump-start economic growth by aggressively overhauling liberal democracy Around the world, people who are angry at stagnant wages and growing inequality have rebelled against established governments and turned to political extremes. Liberal democracy, history's greatest engine of growth, now struggles to overcome unprecedented economic headwinds -- from aging populations to scarce resources to unsustainable debt burdens. Hobbled by short-term thinking and ideological dogma, democracies risk falling prey to nationalism and protectionism that will deliver declining living standards. In Edge of Chaos, Dambisa Moyo shows why economic growth is essential to global stability, and why liberal democracies are failing to produce it today. Rather than turning away from democracy, she argues, we must fundamentally reform it. Edge of Chaos presents a radical blueprint for change in order to galvanize growth and ensure the survival of democracy in the twenty-first century.
Book Synopsis The Crisis of Capitalist Democracy by : Richard A. Posner
Download or read book The Crisis of Capitalist Democracy written by Richard A. Posner and published by Harvard University Press. This book was released on 2010-01-01 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following up on his timely and well-received book, A Failure of Capitalism, Richard Posner steps back to take a longer view of the continuing crisis of democratic capitalism as the American and world economies crawl gradually back from the depths to which they had fallen in the autumn of 2008 and the winter of 2009. By means of a lucid narrative of the crisis and a series of analytical chapters pinpointing critical issues of economic collapse and gradual recovery, Posner helps non-technical readers understand business-cycle and financial economics, and financial and governmental institutions, practices, and transactions, while maintaining a neutrality impossible for persons professionally committed to one theory or another. He calls for fresh thinking about the business cycle that would build on the original ideas of Keynes. Central to these ideas is that of uncertainty as opposed to risk. Risk can be quantified and measured. Uncertainty cannot, and in this lies the inherent instability of a capitalist economy. As we emerge from the financial earthquake, a deficit aftershock rumbles. It is in reference to that potential aftershock, as well as to the government's stumbling efforts at financial regulatory reform, that Posner raises the question of the adequacy of our democratic institutions to the economic challenges heightened by the greatest economic crisis since the Great Depression. The crisis and the government's energetic response to it have enormously increased the national debt at the same time that structural defects in the American political system may make it impossible to pay down the debt by any means other than inflation or devaluation.
Book Synopsis Democracy The God That Failed by : Hans-Hermann Hoppe
Download or read book Democracy The God That Failed written by Hans-Hermann Hoppe and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The core of this book is a systematic treatment of the historic transformation of the West from monarchy to democracy. Revisionist in nature, it reaches the conclusion that monarchy is a lesser evil than democracy, but outlines deficiencies in both. Its methodology is axiomatic-deductive, allowing the writer to derive economic and sociological theorems, and then apply them to interpret historical events. A compelling chapter on time preference describes the progress of civilization as lowering time preferences as capital structure is built, and explains how the interaction between people can lower time all around, with interesting parallels to the Ricardian Law of Association. By focusing on this transformation, the author is able to interpret many historical phenomena, such as rising levels of crime, degeneration of standards of conduct and morality, and the growth of the mega-state. In underscoring the deficiencies of both monarchy and democracy, the author demonstrates how these systems are both inferior to a natural order based on private-property. Hoppe deconstructs the classical liberal belief in the possibility of limited government and calls for an alignment of conservatism and libertarianism as natural allies with common goals. He defends the proper role of the production of defense as undertaken by insurance companies on a free market, and describes the emergence of private law among competing insurers. Having established a natural order as superior on utilitarian grounds, the author goes on to assess the prospects for achieving a natural order. Informed by his analysis of the deficiencies of social democracy, and armed with the social theory of legitimation, he forsees secession as the likely future of the US and Europe, resulting in a multitude of region and city-states. This book complements the author's previous work defending the ethics of private property and natural order. Democracy - The God that Failed will be of interest to scholars and students of history, political economy, and political philosophy."--Provided by publisher.
Download or read book Marketcraft written by Steven K. Vogel and published by Oxford University Press. This book was released on 2018-02-01 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern-day markets do not arise spontaneously or evolve naturally. Rather they are crafted by individuals, firms, and most of all, by governments. Thus "marketcraft" represents a core function of government comparable to statecraft and requires considerable artistry to govern markets effectively. Just as real-world statecraft can be masterful or muddled, so it is with marketcraft. In Marketcraft, Steven Vogel builds his argument upon the recognition that all markets are crafted then systematically explores the implications for analysis and policy. In modern societies, there is no such thing as a free market. Markets are institutions, and contemporary markets are all heavily regulated. The "free market revolution" that began in the 1980s did not see a deregulation of markets, but rather a re-regulation. Vogel looks at a wide range of policy issues to support this concept, focusing in particular on the US and Japan. He examines how the US, the "freest" market economy, is actually among the most heavily regulated advanced economies, while Japan's effort to liberalize its economy counterintuitively expanded the government's role in practice. Marketcraft demonstrates that market institutions need government to function, and in increasingly complex economies, governance itself must feature equally complex policy tools if it is to meet the task. In our era-and despite what anti-government ideologues contend-governmental officials, regardless of party affiliation, should be trained in marketcraft just as much as in statecraft.
