Download or read book America s Protectionist Takeoff 1815 1914 written by Michael Hudson and published by . This book was released on 2010-03-01 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contribution of the American School of Political Economy (1848 to 1914) to America's wildly successful industrial development has disappeared from today's history books. American protectionists and technology theorists of the day were concerned with securing an economic competitive advantage and conversely, with offsetting the soil depletion of 19th century America's plantation export agriculture. They also emphasized the positive effect of rising wage levels and living standards on the productivity that made the American economic takeoff possible. The American School's "Economy of High Wages" doctrine stands in contrast to the ideology of free traders everywhere who accept low wages and existing productivity as permanent and unchanging "givens," and who treat higher consumption, health and educational standards merely as deadweight costs. Free trade logic remains the buttress of today's financial austerity policies imposed on debtor economies by the United States, the World Bank, and the International Monetary Fund. By contrast, the lessons of the American School of Political Economy can provide a more realistic and positive role model for other countries to emulate - what the United States itself has done, not what its condescending "free-trade" diplomats are telling them to do. The lesson is to adopt the protectionist policies of the late 19th and early 20th centuries that made America an economic superpower. Michael Hudson (Distinguished Professor of Economics, University of Missouri, Kansas City) is a frequent contributor to The Financial Times, Counterpunch, and Global Research.
Download or read book Grassroots Leviathan written by Ariel Ron and published by Johns Hopkins University Press. This book was released on 2020-11-17 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking at farmers as serious independent agents in the making, unmaking, and remaking of the American republic, Grassroots Leviathan offers an original take on the causes of the Civil War, the rise of federal power, and American economic ascent during the nineteenth century.
Download or read book The Failure of Laissez Faire Capitalism and Economic Dissolution of the West written by Paul Craig Roberts and published by Atwell Publishing. This book was released on with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.
Download or read book The Neomercantilists written by Eric Helleiner and published by Cornell University Press. This book was released on 2021-11-15 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time when critiques of free trade policies are gaining currency, The Neomercantilists helps make sense of the protectionist turn, providing the first intellectual history of the genealogy of neomercantilism. Eric Helleiner identifies many pioneers of this ideology between the late eighteenth and early twentieth centuries who backed strategic protectionism and other forms of government economic activism to promote state wealth and power. They included not just the famous Friedrich List, but also numerous lesser-known thinkers, many of whom came from outside of the West. Helleiner's novel emphasis on neomercantilism's diverse origins challenges traditional Western-centric understandings of its history. It illuminates neglected local intellectual traditions and international flows of ideas that gave rise to distinctive varieties of the ideology around the globe, including in Latin America, the Caribbean, Africa, and Asia. This rich history left enduring intellectual legacies, including in the two dominant powers of the contemporary world economy: China and the United States. The result is an exceptional study of a set of profoundly influential economic ideas. While rooted in the past, it sheds light on the present moment. The Neomercantilists shows how we might construct more global approaches to the study of international political economy and intellectual history, devoting attention to thinkers from across the world, and to the cross-border circulation of thought.
Download or read book The Great Credit Crash written by Jeffrey Sommers and published by Verso Books. This book was released on 2020-05-05 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most accounts of the current financial crisis tell a story of deregulation, out-of-control markets and irresponsible speculation. But few of those works have done more than regurgitate the newspaper coverage. In contrast, The Great Credit Crash digs deeper, drawing on some of the most prominent radical analysts of the modern market to foreground the key questions that are still waiting to be answered. This volume presents a more complete and convincing analysis of the recent economic disaster, which is revealed as a product of a social order built during the triumphalist years of neoliberal capitalism. The contributors assess current events and political responses, critically examining official rhetoric and hegemonic narratives to point the way to an understanding of the crisis beyond the subprime headlines.
Download or read book The Global Left written by Immanuel Wallerstein and published by Routledge. This book was released on 2021-08-30 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Global Left: Yesterday, Today, Tomorrow, Immanuel Wallerstein takes stock of the practices of the left, historically in the time of its great ideals and today in the midst of the global crisis of capitalism. He underlines the urgency of seeing the emergence of a global and united left that can pave the way out of the centuries-old domination of capital, considering antisystemic movements, dilemmas of the left in relation to the structural crisis of the modern world-system, and tactics and strategies for political action. The book includes new essays by Étienne Balibar, James K. Galbraith, Johan Galtung, Nilüfer Göle, Pablo González Casanova, and Michel Wieviorka in conversation with Wallerstein’s core ideas.
Download or read book Avoiding the Fall written by Michael Pettis and published by Brookings Institution Press. This book was released on 2013-09-24 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.
Download or read book The New Class War written by Michael Lind and published by Penguin. This book was released on 2020-01-21 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: In both Europe and North America, populist movements have shattered existing party systems and thrown governments into turmoil. The embattled establishment claims that these populist insurgencies seek to overthrow liberal democracy. The truth is no less alarming but is more complex: Western democracies are being torn apart by a new class war. In this controversial and groundbreaking new analysis, Michael Lind, one of America’s leading thinkers, debunks the idea that the insurgencies are primarily the result of bigotry, traces how the breakdown of mid-century class compromises between business and labor led to the conflict, and reveals the real battle lines. On one side is the managerial overclass—the university-credentialed elite that clusters in high-income hubs and dominates government, the economy and the culture. On the other side is the working class of the low-density heartlands—mostly, but not exclusively, native and white. The two classes clash over immigration, trade, the environment, and social values, and the managerial class has had the upper hand. As a result of the half-century decline of the institutions that once empowered the working class, power has shifted to the institutions the overclass controls: corporations, executive and judicial branches, universities, and the media. The class war can resolve in one of three ways: • The triumph of the overclass, resulting in a high-tech caste system. • The empowerment of populist, resulting in no constructive reforms • A class compromise that provides the working class with real power Lind argues that Western democracies must incorporate working-class majorities of all races, ethnicities, and creeds into decision making in politics, the economy, and culture. Only this class compromise can avert a never-ending cycle of clashes between oligarchs and populists and save democracy.
Download or read book Handbook of Alternative Theories of Economic Development written by Erik S. Reinert and published by Edward Elgar Publishing. This book was released on 2016-09-28 with total page 849 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Alternative Theories of Economic Development explores the theories and approaches which, over a prolonged period of time, have existed as viable alternatives to today’s mainstream and neo-classical tenets. With a total of 40 specially commissioned chapters, written by the foremost authorities in their respective fields, this volume represents a landmark in the field of economic development. It elucidates the richness of the alternative and sometimes misunderstood ideas which, in different historical contexts, have proved to be vital to the improvement of the human condition. The subject matter is approached from several complementary perspectives. From a historical angle, the Handbook charts the mercantilist and cameralist theories that emerged from the Renaissance and developed further during the Enlightenment. From a geographical angle, it includes chapters on African, Chinese, Indian, and Muslim approaches to economic development. Different schools are also explored and discussed including nineteenth century US development theory, Marxist, Schumpeterian, Latin American structuralism, regulation theory and world systems theories of development. In addition, the Handbook has chapters on important events and institutions including The League of Nations, The Havana Charter, and UNCTAD, as well as on particularly influential development economists. Contemporary topics such as the role of finance, feminism, the agrarian issue, and ecology and the environment are also covered in depth. This comprehensive Handbook offers an unrivalled review and analysis of alternative and heterodox theories of economic development. It should be read by all serious scholars, teachers and students of development studies, and indeed anyone interested in alternatives to development orthodoxy.
Download or read book Radical Hamilton written by Christian Parenti and published by Verso Books. This book was released on 2020-08-04 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: A bold, revisionist history and political biography of the polarizing Founding Father, Alexander Hamilton, that reframes the founding of the United States and the history of capitalism. In retelling the story of the radical Alexander Hamilton, Parenti rewrites the history early America and global economic history writ large. For much of the twentieth century, Hamilton—sometimes seen as the bad boy of the founding fathers or portrayed as the patron saint of bankers—was out of fashion. In contrast his rival Thomas Jefferson, the patrician democrat and slave owner who feared government overreach, was claimed by all. But more recently, Hamilton has become a subject of serious interest again. He was a contradictory mix: a tough soldier, austere workaholic, exacting bureaucrat, yet also a sexual libertine, and a glory-obsessed romantic with suicidal tendencies. As Parenti argues, we have yet to fully appreciate Hamilton as the primary architect of American capitalism and the developmental state. In exploring his life and work, Parenti rediscovers this gadfly as a path breaking political thinker and institution builder. In this vivid historical portrait, Hamilton emerges as a singularly important historical figure: a thinker and politico who laid the foundation for America's ascent to global supremacy—for better or worse. “Wide-ranging, carefully researched, and forcefully written.” —Alan Taylor, author of Thomas Jefferson's Education
Download or read book The Contradictions of Austerity written by Jeffrey Sommers and published by Routledge. This book was released on 2014-04-24 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: The great financial crisis of 2008 and the ensuing global economic and financial turmoil have launched a search for "models" for recovery. The advocates of austerity present the Baltic States as countries that through discipline and sacrifice showed the way out of crisis. They have proposed the "Baltic model" of radical public sector cuts, wage reductions, labor market reforms and reductions in living standards for other troubled Eurozone countries to emulate. Yet, the reality of the Baltic "austerity fix" has been neither fully accepted by its peoples, nor is it fully a success. This book explains why and what are the real social and economic costs of the Baltic austerity model. We examine each of the Baltic States by connecting national level studies within a European and global political economy, thereby delivering comparative breadth that supersedes localized understandings of the crisis. Thus for each of the three Baltic states, individual chapters explore the different economic and social dimensions of neo-liberal post-communism and the subsequent wider global economic and financial crisis in which these newly financialized economies have found themselves especially vulnerable. The "austerity model" adopted by Baltic national governments in response to the crisis reveals the profound vulnerabilities created by their unwavering commitment to liberalized economies, not least in terms of the significant "exit" of their labor forces and consequent population loss. This book looks beyond basic financial metrics claiming a success story for the Baltic austerity model to reveal the damaging economic and social consequences, first of neo-liberal policies adopted during transition, and latterly of austerity measures based on "internal devaluation." Combined these policies undermine the possibility of longer-term recovery and even social and economic sustainability, not to mention prospects for successful integration in the now-faltering European project that has departed from its "Social Model" roots.
Download or read book Free Market written by Jacob Soll and published by Basic Books. This book was released on 2022-09-06 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: From a MacArthur “Genius,” an intellectual history of the free market, from ancient Rome to the twenty-first century After two government bailouts of the US economy in less than twenty years, free market ideology is due for serious reappraisal. In Free Market, Jacob Soll details how we got to this current crisis, and how we can find our way out by looking to earlier iterations of free market thought. Contrary to popular narratives, early market theorists believed that states had an important role in building and maintaining free markets. But in the eighteenth century, thinkers insisted on free markets without state intervention, leading to a tradition of ideological brittleness. That tradition only calcified in the centuries that followed. Tracing the intellectual evolution of the free market from Cicero to Milton Friedman, Soll argues that we need to go back to the origins of free market ideology in order to truly understand it—and to develop new economic concepts to face today’s challenges.
Download or read book From Hesiod to Saussure from Hippocrates to Jevons written by Jens Høyrup and published by Springer Nature. This book was released on 2024 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the second of a three-volume set introducing the history of scientific thought (including social and human science) and covers the Latin Middle Ages, the Renaissance period, and the 17th century. Combining general descriptions with extensive excerpts from original sources in English translation, it concentrates on ways of thinking and actual argumentation and not just on results and mistakes; questions of validity are primarily dealt with in the perspective of the time of the writing, not on that of the 21st century. The work is of great interest to historians of science and culture, students as well as seasoned workers – but also for amateurs willing to invest the necessary serious efforts.
Download or read book Post Keynesian Economics written by Marc Lavoie and published by Edward Elgar Publishing. This book was released on 2014-06-27 with total page 677 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is a considerably extended and fully revamped edition of the highly successful and frequently cited Foundations of Post-Keynesian Economic Analysis, published in 1992. It provides an exhaustive account of post-Keynesian economics and ofø the d
Download or read book Russian Conservatism written by Glenn Diesen and published by Rowman & Littlefield. This book was released on 2021-01-12 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russian conservatism is making a forceful return after a century of experimenting with socialism and liberalism. Conservatism is about managing change by ensuring that modernization evolves organically by building on the past. Conservatism has a natural attraction for Russia as its thousand-year long history is largely characterized by revolutionary change - the destructive process of uprooting the past to give way to modernity. Navigating towards gradual and organic modernization has been a key struggle ever since the Mongols invaded in the early 13th century and decoupled Russia from Europe and the arteries of international trade. Russian history has consisted of avoiding revolutions that are either caused by falling behind on modernization or making great leaps forward that disrupts socio-economic and political traditions. Russian conservatives are now tasked with harmonizing the conservative ideas of the 19th century with the revolutionary changes that shaped Russia in the 20th century. The rise of Asia now provides new opportunities as it enables Russia to overcome its fixation on the West and develop a unique Russian path towards modernization that harmonizes its Eurasian geography and history.
Download or read book The Ukraine War the Eurasian World Order written by Glenn Diesen and published by SCB Distributors. This book was released on 2024-02-15 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Five hundred years of Western hegemony has ended, while the global majority’s aspiration for a world order based on multipolarity and sovereign equality is rising. This incisive book addresses the demise of liberal hegemony, though pointing out that a multipolar Westphalian world order has not yet taken shape, leaving the world in a period of interregnum. A legal vacuum has emerged, in which the conflicting sides are competing to define the future order. NATO expansionism was an important component of liberal hegemony as it was intended to cement the collective hegemony of the West as the foundation for a liberal democratic peace. Instead, it dismantled the pan-European security architecture and set Europe on the path to war without the possibility of a course correction. Ukraine as a divided country in a divided Europe has been a crucial pawn in the great power competition between NATO and Russia for the past three decades. The war in Ukraine is a symptom of the collapsing world order. The war revealed the dysfunction of liberal hegemony in terms of both power and legitimacy, and it sparked a proxy war between the West and Russia instead of ensuring peace, the source of its legitimacy. The proxy war, unprecedented sanctions, and efforts to isolate Russia in the wider world contributed to the demise of liberal hegemony as opposed to its revival. Much of the world responded to the war by intensifying their transition to a Eurasian world order that rejects hegemony and liberal universalism. The economic architecture is being reorganised as the world diversifies away from excessive reliance on Western technologies, industries, transportation corridors, banks, payment systems, insurance systems, and currencies. Universalism based on Western values is replaced by civilisational distinctiveness, sovereign inequality is swapped with sovereign equality, socialising inferiors is replaced by negotiations, and the rules-based international order is discarded in favour of international law. A Westphalian world order is reasserting itself, although with Eurasian characteristics. The West’s defeat of Russia would restore the unipolar world order while a Russian victory would cement a multipolar one. The international system is now at its most dangerous as the prospect of compromise is absent, meaning the winner will take all. Both NATO under US direction and Russia are therefore prepared to take great risks and escalate, making nuclear wan increasingly likely.
Download or read book The Schizophrenic Society written by Roger Boyd and published by FriesenPress. This book was released on 2015-03-04 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why does humanity seem unable to step off its unsustainable path, even with so many direct symptoms - from climate change to ecological destruction and peak resources - becoming more and more apparent? Striving to answer this question, The Schizophrenic Society marshals many different insights from such areas as history, sociology, politics, philosophy, psychology, economics, and anthropology. The resulting story is an important one that exposes both human and societal shortcomings when grappling with the fundamental issue that we’re faced with: the continued growth in humanity’s claims upon Earth’s finite resources. In plain language, the author takes us on a journey, back to the dawn of agriculture and complex societies, and demonstrates how, over time, humanity has built up a set of delusional beliefs about its ability to control the natural world – of which it is an integral part. He explains how the recent exploitation of fossil fuels has provided a last hurrah for human civilization and its delusional beliefs, and then goes on to challenge the faulty logic of the new religion of Economics, which derides anyone who questions the possibility of infinite growth on a finite planet. Boyd then takes us into the future, where he shows us what life will look like if humanity maintains its current path, succumbing to modern media’s continuous push for consumption. He warns us that change will not be easy; that the rich and powerful benefit in the short term from the status quo, and that to expect them to readily adopt changes that will reduce their wealth and power for the good of the whole, is naïve.
