By David Schweickart

Publish yr note: First released in June twenty eighth 2002

Since first released in 2002, After Capitalism has provided scholars and political activists alike a coherent imaginative and prescient of a manageable and fascinating substitute to capitalism. David Schweickart calls the program financial Democracy, a successor-system to capitalism which preserves the potency strengths of a marketplace economic climate whereas extending democracy to the place of work and to the constructions of funding finance.

In the second one variation, Schweickart acknowledges that elevated globalization of businesses has created more than ever interdependent economies and the talk in regards to the desirability of entrepreneurship is escalating. the recent variation features a new preface, thoroughly up-to-date facts, reorganized chapters, and new sections at the fiscal instability ofcapitalism, the present financial situation, and China.

Drawing on either theoretical and empirical examine, Schweickart indicates how and why this version is effective, dynamic, and appropriate on this planet at the present time.

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Additional info for After Capitalism (2nd Edition) (New Critical Theory)

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All postwar Western European countries have remained capitalist, even when socialist or social democratic parties have been elected, even when these parties have nationalized certain industries and/or instituted various public welfare programs. So long as most productive assets are privately owned, most economic exchanges take place through the market, and most people work for wages or a salary, a society is capitalist. (Sweden, for example, is very much a capitalist country. ) All three of these defining structures must be present for a society to be capitalist.

Have we indeed reached “the end of history,” as Francis Fukuyama has proclaimed? Even on the Left, many seem to think so. Jeffrey Isaac, writing in The New Left Review, endorses Anthony Giddens’s claim that “no one has any alternatives to capitalism:” Now we might not like this, but Giddens is alas correct. ” It is simply to remark that given the history we have inherited and the world that human beings have created, there exists no credible wholesale alternative to capitalism. The same could be said of water purification, modern medicine, electronic communication, industrial technology with all its wastes and hazards, and also civil liberties and representative government of some sort.

Nations are also divided as to rich and poor, those at the bottom having per capita incomes one-twentieth or even one-fiftieth of those at the top. Life expectancy in rich countries now exceeds eighty; in poor countries, it is often under fifty-five. Infant mortality, malnutrition, and literacy rates are comparably disparate. Even within rich countries, the inequalities are staggering. In the United States, the upper 1 percent of the population owns more wealth than the bottom 90 percent. More than 43 million families live below the poverty line (the largest number since the census bureau began collecting such data fifty years ago), including some 20 percent of our children, whereas corporate CEOs often make $30 million or more per year, and successful hedge fund managers make thirty times that much.

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After Capitalism (2nd Edition) (New Critical Theory) by David Schweickart
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