Political Capitalism

The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook, and Amazon are gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies when it comes to high speed internet, health insurance, medical care, mortgage title insurance, or even consumer goods like toothpaste.

Ellen Meiksins Wood offers a clear and accessible introduction to the theories and debates concerning the birth of capitalism, imperialism, and the modern nation state. Capitalism is not a natural and inevitable consequence of human nature, nor simply an extension of age-old practices of trade and commerce. Rather, it is a late and localized product of very specific historical conditions, which required great transformations in social relations and in the relationship between humans and nature.

In Capitalism, Alone, leading economist Branko Milanovic explains the reasons for this decisive historical shift since the days of feudalism and, later, communism. Surveying the varieties of capitalism, he asks: What are the prospects for a fairer world now that capitalism is the only game in town? His conclusions are sobering, but not fatalistic. Capitalism gets much wrong, but also much right - and it is not going anywhere. Our task is to improve it.

The foundations of capitalism are being battered by a flood of altruism, which is the cause of the modern world's collapse. This was the view of Ayn Rand, a view so radically opposed to prevailing attitudes that it constituted a major philosophic revolution. In this series of essays, she presented her stand on the persecution of big business, the causes of war, the default of conservatism, and the evils of altruism.

How do politics shape our world, our lives, and our perceptions? How much of “common sense” is actually driven by the ruling class’ needs and interests? And how are we to challenge the capitalist structures that now threaten all life on the planet? Consequences of Capitalism exposes the deep, often unseen, connections between neoliberal “common sense” and structural power. In making these linkages, we see how the current hegemony keeps social justice movements divided and marginalized. And, most importantly, we see how we can fight to overcome these divisions.

At a time when artificial intelligence, climate change, and inequality are raising fundamental questions about the economic system, Capitalism and Its Critics provides a kaleidoscopic history of global capitalism, from the East India Company to Apple. But here John Cassidy, a staff writer at The New Yorker and a Pulitzer Prize finalist, adopts a bold new approach: he tells the story through the eyes of the system’s critics.

Brilliant, listenable, and raw. Maj. (ret.) Danny Sjursen, who served combat tours in Iraq and Afghanistan and later taught history at West Point, delivers a true epic and the perfect companion to Howard Zinn’s A People’s History of the United States.

The foundation for all modern economic thought and political economy, The Wealth of Nations is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words.

In The Reactionary Mind, Robin traces conservatism back to its roots in the reaction against the French Revolution. He argues that the right was inspired, and is still united, by its hostility to emancipating the lower orders. Some conservatives endorse the free market; others oppose it. Some criticize the state; others celebrate it. Underlying these differences is the impulse to defend power and privilege against movements demanding freedom and equality - while simultaneously making populist appeals to the masses.

First published in 1956, The Power Elite stands as a contemporary classic of social science and social criticism. C. Wright Mills examines and critiques the organization of power in the United States, calling attention to three firmly interlocked prongs of power: the military, corporate, and political elite. The Power Elite can be enjoyed as a good account of what was taking place in America at the time it was written, but its underlying question of whether America is as democratic in practice as it is in theory continues to matter very much today.

No one noticed when capitalism died. Perhaps we were too distracted by the implosion of global finance, or the rise of populism, or the demise of the planet - or all of those cute cats on Instagram. But gradually, quietly, a yet more exploitative new system has taken hold: techno-feudalism. Crafted in the form of a letter to his late father, who first taught him about the power of new technologies to shape human history, Yanis Varoufakis explains how Big Tech has effected an invisible but fundamental transformation in all our lives.

Capitalism, Socialism, and Democracy: Exploring the Evolution of Economic Systems and the Future of Democracy by Joseph A. Schumpeter is a seminal work that examines the dynamics of economic systems and their societal impact. Published in 1942, this influential book introduces the concept of "creative destruction," illustrating how innovation disrupts established industries to drive progress. Schumpeter explores the strengths and vulnerabilities of capitalism, arguing that its success ironically paves the way for its decline through institutional shifts and bureaucratic expansion.

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy - one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom.

This insightful study explores how the economic system Vladimir Putin has developed in Russia works to consolidate control over the country. By appointing his close associates as heads of state enterprises and by giving control of the FSB and the judiciary to his friends from the KGB, he has enriched his business friends from Saint Petersburg with preferential government deals. Thus, Putin has created a super wealthy and loyal plutocracy that owes its existence to authoritarianism.

Before and after World War II, a serendipitous confluence of events created a healthy balance between the market and the polity - between the engine of capitalism and the egalitarian ideals of democracy. A global financial system was devised explicitly to allow nations to manage capitalism. Yet this golden era turned out to be lightning in a bottle. From the 1970s on, a power shift occurred, in which financial regulations were rolled back, taxes were cut, inequality worsened, and disheartened voters turned to far-right faux populism. Can democracy find a way to survive?

An engaging, polemical romp through economic theory, computational complexity, and the history of planning, The People's Republic of Walmart revives the conversation about how society can extend democratic decision-making to all economic matters. With the advances in information technology in recent decades and the emergence of globe-straddling collective enterprises, democratic planning in the interest of all humanity is more important and closer to attainment than ever before.

This audiobook argues for a society organized by voluntary cooperation under institutions of private property and exchange with little, ultimately no, government. It describes how the most fundamental functions of government might be replaced by private institutions, with services such as protecting individual rights and settling disputes provided by private firms in a competitive market.

Capital is currently cannibalizing every sphere of life-guzzling wealth from nature and racialized populations, sucking up our ability to care for each other, and gutting the practice of politics. In this tightly argued and urgent volume, leading Marxist feminist theorist Nancy Fraser charts the voracious appetite of capital, tracking it from crisis point to crisis point, from ecological devastation to the collapse of democracy, from racial violence to the devaluing of care work.

Early in the 21st century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, or software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.

Today, in the midst of a new economic crisis and severe political discord, the nature of capitalism in United States is at a crossroads. Since the market crash and Great Recession of 2008, historian Jonathan Levy has been teaching a course to help his students understand everything that had happened to reach that disaster and the current state of the economy, but in doing so he discovered something more fundamental about American history. Now, in an ambitious single-volume history of the United States, he reveals how capitalism in America has evolved through four distinct ages.