On Capitalism And Inequality
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Capitalism And Inequality
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Author : G.P. Manish
language : en
Publisher: Routledge
Release Date : 2020-12-29
Capitalism And Inequality written by G.P. Manish and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-29 with Business & Economics categories.
Capitalism and Inequality rejects the popular view that attributes the recent surge in inequality to a failure of market institutions. Bringing together new and original research from established scholars, it analyzes the inequality inherent in a free market from an economic and historical perspective. In the process, the question of whether the recent increase in inequality is the result of crony capitalism and government intervention is explored in depth. The book features sections on theoretical perspectives on inequality, the political economy of inequality, and the measurement of inequality. Chapters explore several key questions such as the difference between the effects of market-driven inequality and the inequality caused by government intervention; how the inequality created by regulation affects those who are less well-off; and whether the economic growth that accompanies market-driven inequality always benefits an elite minority while leaving the vast majority behind. The main policy conclusions that emerge from this analysis depart from those that are currently popular. The authors in this book argue that increasing the role of markets and reducing the extent of regulation is the best way to lower inequality while ensuring greater material well-being for all sections of society. This key text makes an invaluable contribution to the literature on inequality and markets and is essential reading for students, scholars, and policymakers.
On Capitalism And Inequality
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Author : Robert U. Ayres
language : en
Publisher: Springer Nature
Release Date : 2020-05-29
On Capitalism And Inequality written by Robert U. Ayres and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Political Science categories.
Capitalism is under attack. Defenders say that capitalism has raised billions of people from poverty. But a central activity of capitalism today, Wall Street style, is speculation (gambling), using other people’s money, and privatizing the profits while socializing the debts. Skeptics argue that capitalism has redistributed the wealth of the planet in favor of a very few, meanwhile leaving the planet in bad shape and leaving billions of people out in the cold. Wealth is now extremely mal-distributed, opportunity is far from equal, and upward social mobility has declined significantly in recent decades. This book reviews the evidence and arguments pro and con in considerable detail. The evidence is mixed. The main virtue of capitalism is its emphasis on competition as a driver of innovation and, thus, of economic growth. It is true that economic growth has accelerated in recent centuries, and it is true that billions of people have been lifted from poverty. But it is not necessarily true that intense “winner take all” competition in the marketplace is the explanation for growth. Neoclassical economic theory posits that self-interest is the primary motive for all economic decisions, leaving little room for cooperation and even less for altruism. The theory applies to an unrealistic “model” of human behavior, known as Homo economicus or “economic man”, whose characteristic activity is buying or selling. The reason for using the adjective word “social” – as in socialism” or “social service” or “social democracy” -- is, essentially, to deny those postulates of standard economic theory. Real humans are not rational utility maximizers (whatever that is) and very often do things that are not in their own personal best interests. This can happen because other interests, such as family loyalty, professional, religious, or patriotic duty, may take precedence. Real people rarely behave like Homo economicus, who has rivals but no friends. He (or she) does not trust anyone, hence cannot cooperate with others, and can never create, or live in, a viable social system (or marriage). Yet social systems, ranging from families and tribes to firms, cities, and nations do (and must) exist or civilization cannot exist. A viable social system must not allow “winner takes all”. It must reallocate some of the societal wealth being created by competitive activities to support the young, the old and the weak, because all of those people have equal rights, if not the same luck or the same skills. Both competition and cooperation have important roles to play. A hybrid capitalism involving both is the only viable solution. The book ends with a specific suggestion, namely Universal Basic Income, or UBI.
Inequality And Evolution
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Author : Charles L. Ladner
language : en
Publisher: Xlibris Corporation
Release Date : 2020-12-01
Inequality And Evolution written by Charles L. Ladner and has been published by Xlibris Corporation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-01 with Business & Economics categories.
In 1976, there were 38 countries, comprising nearly 50% of the world’s population that self-identified as socialist states, yet by 1991, only one remained. In 1976, the annual GDP per capita of the 38 socialist countries (in inflation adjusted dollars) averaged approximately $5 thousand. By 1990 it had grown to about $8 thousand. During that same period, the GDP per capita, in comparable numbers, for the United States grew from $24 thousand to $36 thousand. The socialist countries never grew their per capita income to more than 22% of the United States. Even China, which today has an economy almost as large as the United States, never saw its per capita GDP grow beyond $2 thousand per year during the twenty-eight year period as a socialist state under Mao Zedong. But, after the death of Mao, China converted its economy to the capitalist model with spectacular success, lifting a billion people out of poverty and challenging the United States for worldwide economic supremacy-an outcome that would have been unthinkable under socialism. Why has capitalism proven to be such an extraordinary success and socialism such a miserable failure? Charles Ladner argues that the success or failure of economic systems can be traced to the degree to which such systems are congruent with the primal force of evolutionary natural selection. This is the most fundamental need of every living thing to survive and reproduce. He encapsulate these forces into the term: selfishness. Capitalism, he finds, is grounded in such selfishness or self-interest, and therefore is fully congruent with the biological needs which provide the aspirational motivation that cause capitalism at all times and in every place, to be successful. Socialism, on other hand, requires and cannot function without, authoritarian rule to suppress expressions of self-interest. Its operation at the level of the state, serves to frustrate the biological needs and thereby will always produce poverty and failure. The historical record, he says, categorically demonstrates this. Capitalism, however, has a fatal flaw, and that is its inability to restrain the expression of selfishness, which ultimately leads to such extremes of wealth and income inequality that the system can self-destruct. In the final chapters, Ladner offers possible remedies for the United States, which he believes is already in the very early stages of such self-destruction.
Inequality Boom And Bust
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Author : Howard J. Sherman
language : en
Publisher: Routledge
Release Date : 2018-02-19
Inequality Boom And Bust written by Howard J. Sherman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-19 with Business & Economics categories.
There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily due to characteristics inherent in the standard operation of capitalist institutions. Furthermore, the authors seek to explain the cycle of boom and bust by considering political and social factors often overlooked by conservative economists. This book also explores how wealth influences political policies in a way that increases economic inequality even more than its present level. Through analysis of American political and economic institutions, Inequality, Boom, and Bust presents concrete steps for an activist, progressive policy to greatly reduce inequality through free healthcare, free higher education, and reduced unemployment.
Twenty First Century Inequality Capitalism Piketty Marx And Beyond
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Author :
language : en
Publisher: BRILL
Release Date : 2018-01-03
Twenty First Century Inequality Capitalism Piketty Marx And Beyond written by and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-03 with Business & Economics categories.
Twenty-First Century Inequality & Capitalism: Piketty, Marx and Beyond is a collection of critical essays on the economist’s iconic 2014 book, from the perspective of critical theory, global political economy or public sociology, mostly drawn from the Marxist tradition.
Inequality In Capitalist Societies
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Author : Surinder S. Jodhka
language : en
Publisher: Taylor & Francis
Release Date : 2017-07-14
Inequality In Capitalist Societies written by Surinder S. Jodhka and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-14 with Business & Economics categories.
Inequality is one of the most discussed topics of our times. Yet, we still do not know how to tackle the issue effectively. The book argues that this is due to the lack of understanding the structures responsible for the persistence of social inequality. It enquires into the mechanisms that produce and reproduce invisible dividing lines in society. Based on original case studies of Brazil, Germany, India and Laos comprising thousands of interviews, the authors argue that invisible classes emerge in capitalist societies, both reproducing and transforming precapitalist hierarchies. At the same time, locally particular forms of inequality persist. Social inequality in the contemporary world has to be understood as a specific combination of precapitalist inequalities, capitalist transformation and a particular class structure, which seems to emerge in all capitalist societies. The book links the configurations to an interpretation of global domination as well as to symbolic classification.
Inequality In Capitalist Societies
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Author : Surinder S. Jodhka
language : en
Publisher: Routledge
Release Date : 2017-07-14
Inequality In Capitalist Societies written by Surinder S. Jodhka and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-14 with Business & Economics categories.
Inequality is one of the most discussed topics of our times. Yet, we still do not know how to tackle the issue effectively. The book argues that this is due to the lack of understanding the structures responsible for the persistence of social inequality. It enquires into the mechanisms that produce and reproduce invisible dividing lines in society. Based on original case studies of Brazil, Germany, India and Laos comprising thousands of interviews, the authors argue that invisible classes emerge in capitalist societies, both reproducing and transforming precapitalist hierarchies. At the same time, locally particular forms of inequality persist. Social inequality in the contemporary world has to be understood as a specific combination of precapitalist inequalities, capitalist transformation and a particular class structure, which seems to emerge in all capitalist societies. The book links the configurations to an interpretation of global domination as well as to symbolic classification.
Savage State
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Author : Edward J. Martin
language : en
Publisher: Rowman & Littlefield
Release Date : 2005-08
Savage State written by Edward J. Martin and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-08 with Business & Economics categories.
The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 is used as a point of departure for a critique of contemporary welfare policy and the capitalist state. Martin and Torres set out to renew a critical Marxist method by extending it to an analysis of contemporary social policy. It is in this approach that they set out to argue that a critique of welfare policy within the context of capitalism is more timely and important than ever before.
Capitalists Arise
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Author : Peter Georgescu
language : en
Publisher: Berrett-Koehler Publishers
Release Date : 2017-05-01
Capitalists Arise written by Peter Georgescu and has been published by Berrett-Koehler Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-01 with Business & Economics categories.
The legendary CEO presents “a challenge to America’s captains of business . . . to reclaim capitalism as a means of creating wealth and shared prosperity” (Darren Walker, President, Ford Foundation). Peter Georgescu arrived in this country as a penniless Romanian refugee and rose to become the CEO of Young & Rubicam. This is why he's so heartsick that with flat wages, disappearing jobs, and a shrinking middle class, his kind of rags-to-riches story doesn't seem possible now. But he has a message for his fellow CEOs: we're the ones who must take the lead in fixing the economy. Today, America has greater wealth inequality and lower social mobility than just about any other country in the developed world. As Georgescu demonstrates, this is because free-market capitalism has been hijacked by shareholder primacy. Where once our business leaders looked to the needs and interests of a variety of stakeholders—employees, community members, the business itself—now they're myopically focused on maximizing their shareholders' quarterly returns. In Capitalists, Arise!, Georgescu offers concrete, pro-capitalist actions we can take to create a better future—one in which shareholders would do even better! In the long run, businesses can thrive only when society is healthy and strong. This book is a manifesto calling on capitalists to heal the nation that has given them so much.
Extreme Inequalities In Contemporary Capitalism
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Author : Maurizio Franzini
language : en
Publisher: Springer
Release Date : 2016-05-28
Extreme Inequalities In Contemporary Capitalism written by Maurizio Franzini and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-28 with Political Science categories.
This book explores the mechanisms by which top incomes are achieved through work in today’s advanced economies and asks to what extent current extreme inequalities are compatible with widely held values of social justice. Reflecting on the heterogeneity of the working rich, the authors argue that very high earnings often result not from heightened competition induced by globalization but rather from a lack of competition, or at best deficient competition. It is proposed that such incomes cannot be justified in terms of efficiency or merit and do not generate positive trickle-down effects with benefits for all of society; rather, extreme inequalities in earnings risk jeopardizing equality of opportunity. The book concludes by offering a wide array of innovative policy prescriptions that are not punitive in intent and are not merely directed toward income redistribution. Readers will find the book to be a fascinating source of insights into the subject of the working rich, which remains largely unexplored within both economics and ethics.