One of our leading social critics recountscapitalism’s finest hour, and shows ushow we might achieve it once again.
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Blaming global capitalism for economic and political problems such as stagnating wages, downward mobility, and the rise of populism, author Robert Kuttner, cofounder of The American Prospect, points out the flaws of global capitalism, highlights its threat to democracy and economic security for countries around the world, and recommends a new type of progressive populism founded on democracy and social justice. Writing in accessible language for non-experts and students, Kuttner begins with an overview of regulated and deregulated capitalism from the 1940s to the present, with a special emphasis on the consequences of the deregulated capitalism that began in the 1970s. He then argues that today’s version of globalization is undemocratic and presents recommendations to revive and sustain democratic capitalism in Western democracies, with the goal of a mixed economy, regulation of market abuses, stronger democratic institutions, and recovery of progressive politics. The author draws on the ideas of Karl Polanyi, John Maynard Keynes, and Michal Kalecki, among others. Annotation ©2018 Ringgold, Inc., Portland, OR (protoview.com)
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