My
recent posts won’t have made a great deal of sense to those who have come to
the blog for the first time (you can actually read each year’s posts as an
E-book – by going to appropriate line of the list in "new material" the right-hand corner of
the blog).
Even
my regular readers, however, would probably find a recap useful….
I’m
writing a text entitled “Dispatches
to the Next Generation” which, in confessional mode, tries to make sense of
the mess which my generation has made of things……
I
am, of course, well aware that thousands of books have been written about the
global crisis - but almost all have one simple defect – they attribute blame to
other people.
I
start, instead, from the spirit which infused a 1978 book called “The Seventh
Enemy” (by R Higgins) which listed 6 global enemies- then seen as “the food
crisis”; the “population explosion”; scarcity; environmental degradation;
nuclear threat; and scientific technology. The seventh enemy
was….ourselves….our moral blindness and political inertia…Another such rare
book is Danny Dorling’s hugely underrated Injustice (2011) which
identified 5 “social evils” – elitism, exclusion, prejudice, greed and despair
– and explores
the myths which sustain them. Unusually, the argument is that we are all guilty of these evils and of sustaining these myths......
There
is a further problem about the literature about the global crisis – which is
that a lot of it identifies the problem as the financial bubble which exploded
ten years ago and fails to do justice to other issues and to the other
voices which were issuing strong warnings from the 1970s……It’s only in the
past year that people have been realizing that this crisis is deeper and goes
back longer…..
The
book at the moment has an odd structure – since it’s made up of posts triggered by my reading of the past decade…..and, as
I’ve got deeper into the editing process, I’ve realized that I need to be more
disciplined in the selection of key texts which have shaped “our thinking” over
the past 60 years… ..And, in this, I’ve been helped by these
two diagrams from the Commons in Transition people – one called the
“Current Capitalism Paradigm”, the second “Beyond Capitalism”. Last week I
presented an
improved version of the first diagram which contained hyperlinks to authors
who gave good analyses of the various problems identified about the current
capitalism paradigm….and a later post
gave additional detail on these important writers
Now it is time to look at
some of the key texts which appeared after the crisis but once it had sunk in
that this crisis was not going away.
Of course, any such list
is highly arbitrary – I have tried to offer an all-too-brief justification for
most of the choices. The texts are in chronological order....and UPDATED as at Feb 2020
Envisioning Real Utopias; Erik
Olin-Wright (2009) It’s appropriate that this book heads the list since
Olin-Wright devoted his life to trying to understand the capitalist system and
how it might be tamed. His university keeps a full range of his papers accessible here – and they are
a real treasure trove for the serious researcher – and activist.
How Markets Fail – the
logic of economic calamities; John Cassidy
(2009) Amazing that this journalist could not only give us some first thoughts
on the global financial breakdown of 2008 but put this in the context of a
critical analysis of mainstream economists over the past 2 centuries
The Road from Mont Pelerin
– the making of the neoliberal thought collective;
ed P Mirowski and D. Plehwe (2009) One of the first books to explain in detail
how the thinkers who found themselves on the margins after 1945 got together
and found the money to fund the hundreds of Think Tanks which created the
neoliberal doctrine which now rules the world.
23 Things they didn’t tell
you about capitalism; Ha Joon-Chang (2010) One of the best exposures
of the myths economists would have us believe
The Enigma of Capital; David Harvey
(2010) Puts the crisis in proper historical and economic context although a bit
too technical for my taste.
Why
the third way failed – economics, morality and the origins of the “big society”;
Bill Jordan (2010) is a very thoughtful treatment of the experience…..reviewed
here
The Global Minotaur –
America, the true origins of the financial crisis and the future of the world
economy; Yanis Varoufakis (2011) One of the few economists on the
list and one of the best on the subject….click the title and you get the entire
book!!
The Strange Non-Death of
NeoLiberalism; Colin Crouch (2011) The first of a wave of books
to explore why, far from dying, neoliberalism became even stronger…Crouch is a
political scientist but not the easiest of reads.
Injustice – why social
inequality persists – David Dorling (2011) Quite excellent
treatment from a prolific geographer
The Economics of Enough –
how to run the economy as if the future matters;
Diane Coyle (2011)
A
rare book directed at the active citizen and dealing with our concerns about
the environment, scale of debt, lack of trust etc She’s not a fan of the
zero-growth school of thinking. Very clear writing and can be highly
recommended. Perhaps lacks just a bit of zest. And economical - only 150
pages!!
Debunking Economics – the
naked emperor dethroned; Steve Keen (2011) an
updated version of his powerful 2001 critique. One of the best there is….
America Beyond Capitalism:
Reclaiming Our Wealth, Our Liberty, and Our Democracy; Gary
Alperovitz, (2011 edition) The grand old man of the American left gives us as
clear an analysis as you are likely to get (apart from Mander below)
The Future of Work – what
it means for individuals, markets, businesses and governments; David Bollier
(2011) A good sound treatment by someone prominent in the P2P movement
Business as
Usual – the economic crisis and the failure of capitalism; Paul Mattick
(2011) A rare and very clear Marxist explanation of the financial crash
The
Crises of Capitalism – a different study of political economy; Saral Sarkar
(2011) Sarkar is an Indian-german academic and brings an eco-activist approach
to this book.
Misrule of Experts? The
Financial Crisis as Elite Debacle M Moran et al (2011) a
rare essay which goes beyond the common explanation of the crisis as accident,
conspiracy or calculative failure and frames
the crisis differently as an elite political debacle
The Crisis of global capitalism
– Pope Benedict XVI’s social encyclical and the future of political economy;
ed A Pabst (2011) I wasn’t even aware of this encyclical until I came across
this book recently
Revisiting
Associative Democracy; ed Westall (2011). An
overdue assessment of the relevance of Paul Hirst’s ideas more than a decade
after his death
The Capitalism Papers –
Fatal Flaws of an Obsolete System; Jerry Mander (2012).
Highly readable analysis from a great American
journalist and activist. The title, for once, gives us a clear indication of
what to expect - one of the clearest analysis of why the American system needs
transformation. Its flaws are dissected one by one before he, rarely, gives us
a 60 page indication of what should take its place - small scale, cooperative
ventures. One of the few books on the topic I would recommend. Just don't
expect a good analysis of a world without work....
Debt and Neo-Feudalism; Michael
Hudson (2012) – one of a series of papers where this prominent and radical
economist spells out his view of financial capitalism – which can also be found in his blog. A joint
article on the rentier aspect of the
crisis is here…Also have a look at this 2012 discussion - how finance capitalism
leads to debt servitude
Austerity – the history of
a dangerous idea; Mark Blyth (2013)
A political economy treatment which surpasses and updates Varoufakis. One of the best!
Buying Time – the delayed
crisis of democratic capitalism; Wolfgang
Streeck (2013) Highly readable critique from a German sociologist –
called, in this long review, a
“reluctant radical”
Never let a serious crisis
go to waste – how neoliberalism survived the financial meltdown; Philip
Mirowski (2013); too much jargon and verbosity for my taste – although it has
received a lot of attention as you will see from this
symposium. The author defines here the 13
commandments of neoliberalism. “The Road from Mont
Pelerin” which he edited in 2009 tells a better story.
Disassembly Required – a
field guide to actually existing capitalism; Geoff Mann (2013) A
tantalising little book (written in simple English) which purports to offer an
explanation free of the usual myths; focuses usefully on the rise of
“financialisation” after the 1970s; but, ultimately, disappoints with a
“cultivate one’s garden” conclusion.
Perfect Storm; Tim Morgan
(2013). A good treatment by an international consultant
“The Entrepreneurial State –
debunking private v public sector myths” Mariana Mazucatto (2013) An overdue argument about the role of the state
Does Capitalism have a
Future? Immanuel Wallerstein, Michael Mann, Craig Calhoun (2013)
I
came across this very recently….I’m not sure if I missed much – but with such a
title and set of authors, it has to be listed
The Locust and the Bee –
predators and creators in Capitalism’s Future; G Mulgan
(2013) This should be an important book but is written at such a level of
generality that I gave up at about p100. For a text supposedly about the
potential “good” side of capitalism, it’s significant that there are no entries
in the index for “cooperatives” or “ownership” and no mention of Jeff Gates’
“The Ownership Solution” of 1998 despite a credit Gates gave Mulgan…
New Spirits of capitalism?
Crises, justifications and dynamics; ed Paul du Gay,
Glenn Morgan (2013). A collection of papers from organizational and
management theorists who analyse the 1999 book by French theorists.
End of capitalism? Michael Mann
(2013) Substantial academic essay from a historical sociologist –and good
summary of what the author contributed to the previous book
Take Back the Economy – an
ethical guide for transforming our communities; J
Gibson-Graham, Jenny Cameron and Stephen Healy (2013) Very readable localist
approach (see also Douthwaite)
Democratic Wealth
(2014)
– being a little E-book of Cambridge and Oxford University bloggers’ takes on
the crisis
Rebalancing Society –
radical renewal beyond left, right and center; Henry
Mintzberg (2014) who is my favourite management guru – for the bluntness of his
writing…In a famous 2000 HBR article he warned that 1989 and other
socio-economic changes were creating a dangerous imbalance.
Seventeen Contradictions
and the End of Capitalism; David Harvey (2014). Book can be downloaded –
anything from this Marxist geographer is worthy of note
Renewing Public Ownership – making space
for a democratic economy; Andrew Cumbers (2014) reviewed here
Crisis without End - the
unravelling of western prosperity: Andrew Gamble (2014). A
political scientist who has analysed neo-liberalism since the 1970s (google the
phrase and you will be able to download a very helpful analysis he did as long
ago as 1979!)
The Limits of Neo
Liberalism – authority, sovereignty and the logic of competition ; William
Davies (2014). A well-written and thoughtful sociological analysis which can be
read in full at the link
The future of work; Jacob Morgan
(2014). A useful overview – if a bit too American in its spirit! The link gives
the entire book
Reinventing Organisations; Frederic
Laloux (2014) – a strange sort of book (which can be downloaded in full from
the link) redolent of the American 1990s’ style of Peter Senge et al who promised a
more liberating type of organization.
Shifts and Shocks – what
we’ve learned, and still have to, from the financial crisis; Martin Wolf
(2014) – with accompanying power point presentation.
Although Wolf was an apologist for globalization, he is as clear and
objective economist as that breed is capable of producing..
Utopia or Bust – a guide
to the present crisis (2014) a small book with a rather misleading
title and subtitle
– since
it actually deals with 6 authors, David Harvey, Robert Brenner, David Graeber,
Fredric Jameson and 2 useless others. But it has a good little guide to further
reading
The Second Machine Age, Erik
Brynjolfsson and Andrew McAfee (2014).Important analysis of the implications
and likely impact of information technology
Laudato-Si
–
the Papal Encyclical of 2015 which threw down an ecological and moral challenge
to the power elite. A summary is available here. Its entire
184 pages can be read here
Rise of the Robots; Martin Ford (2015).
I’m told this is one of the key writers on this fashionable topic
Sociology, Capitalism,
Critique; Dora, Lessenich and Hartmut Rosa (2015 – translated from 2009 German
original). Too many of the references I give are, of necessity, anglo-saxon so
I am delighted to include this book.
A New Alignment of
Movements? D Bollier (2015) How the thinking of the
“platform commons” people has developed
The Butterfly Defect – how
globalization creates systemic risks and what to do about it; Ian Goldin and Mike Mariathasan (2015) I actually don’t know
anything about this book but the theme is an important one
Change Everything –
creating an Economy for the Common Good; Christian Felber (2015
English – 2010 German). I’m not impressed with this book at all – too
simplistic and doesn’t reference the relevant literature but it seems to have
encouraged some European groups…..
Credo – economic beliefs in a world of crisis; Brian Davey (2015) An
original alternative approach to economics
Commons Transition
(2015)
a curious book from the Commons in Transition people which is frankly a bit of
a scissors and paste job from various projects including one in Ecuador….
Post Capitalism – a guide
to our Future; Paul Mason (2015) a best-seller
but bit of a curate’s egg whose basic thesis is
spelled out here….
Inventing the Future –
Postcapitalism and a world without work;
N Srnicek and Williams (2015) - sociologists . You can read it for yourself in
full here and take in a good review of both above
books here. Also a best-seller….
Cyberproletariat – global
labour in the digital vortex; Nick Dyer-Witheford
(2015) Thought provoking book from a Canadian media/political economy academic
The
Locust and the Bee – predators and creators in capitalism’s future; Geoff
Mulgan (2015) a typically dispassionate analysis from the ex-head of the Demos
ThinkTank who was also Head of Tony Bliar’s Policy Unit
The Next System Report –
political possibilities for the 21st Century
(2015)
The opening essay from a fascinating American project whose latest output is
this great series of papers
Rethinking Capitalism –
economics and policy for sustainable and inclusive growth;
Michael Jacobs and Mariana Mazzucato (2016). Looks well-written and up-to-date
– from the social democrat stable
How will Capitalism End?;
Wolfgang Streeck. (2016) a
collection of this political economist’s key articles, many from New Left
Review. Superbly written but weak on future of work and environment
And the Weak Suffer what
they must – Europe, austerity and the threat to global stability; Yanis
Varoufakis (2016) Partly an update to his “Global Minotaur” but much more – a
passionate analysis of the perversity of the austerity doctrine
Utopia for Realists – and
how we can get there; (2016 Eng) Journalist whose little
book has got a high profile. It certainly is written very well but is very
light and focuses mainly on universal income and the short working week.
Example of great marketing
Globalisation and its
Discontent Revisited; Joseph Stiglitz (2017). Stiglitz is one of the
clearest writers and has long been free to say exactly what he thinks…
Vampire Capitalism – fractured societies and
alternative futures; Paul Kennedy (2017)
A
sociologist’s treatment which earns high points by stating in the very first
sentence that it has “stood on the shoulders of so many giants that he is
dizzy” and then proves the point by having an extensive bibliography with lots
of hyperlinks…It can be read in full here
Economics for the Common
Good ; Jean Tirole (2017 Eng) Nobel prize winner
2014..French Economist. This is political economy as it should be practised –
taking the themes of interest to us all and reasoning seriously with us about
them.
Crashed; how a decade of
financial crises changed the world; Adam Tooze (2018) The
definitive book on the subject, with another good review here
The Future of Capitalism –
facing new anxieties; Paul Collier (2018) a very thoughtful book which
sparked off a series of posts on my blog
Come On! Capitalism,
short-termism, population and the destruction of the planet;
(Club of Rome 2018). The quality and bite you expect of Club of Rome
publications
The
Value of Everything – making and taking in the global economy; Mariana
Mazzucato (2018)
It’s remarkable that this is one of the few
books to focus on the obvious question of what
gives products their value….
People,
Power and Profits – progressive capitalism for an age of discontent; Joseph Stiglitz (2019) a
dissident ex-World Bank chief economist whose latest book I’ve not had a chance
to read….
Capitalism,
alone – the future of the system that rules the world; Branko Milanovic (2019)
Ditto for the present WB Chief Economist’s
The
Globotics Upheaval – globalisation, robotics and the future of work;
Richard Baldwin (2019) A highly readable analysis of these topics
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