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Virtually everyone--left, right, and center--believes that capitalist economies are autonomous, coherent, and regulated by their own internal laws. This view is an illusion. The reality is that economies organized around the pursuit of private profit are contradictory, incoherent, and heavily shaped by politics and governmental action. But the illusion remains hugely consequential because it has been embraced by political and economic elites who are convinced that they are powerless to change this system. The result is cycles of raised hopes followed by disappointment as elected officials discover they have no legitimate policy tools that can deliver what the public wants. In Capitalism, leading economic sociologist Fred L. Block argues that restoring the vitality of the United States and the world economy can be accomplished only with major reforms on the scale of the New Deal and the post-World War II building of new global institutions.
Globalization --- Capitalism --- Economic aspects. --- United States --- Economic policy. --- Politics and government. --- american capitalism. --- business. --- capital. --- capitalism. --- capitalist economy. --- capitalist system. --- change the system. --- economic determinism. --- economic development. --- economic policy. --- economic sociology. --- economics. --- economy. --- free enterprise. --- global institutions. --- governmental action. --- governments and governing. --- major reforms. --- money. --- policy tools. --- political elites. --- political theory. --- politics. --- private profit. --- profit. --- sociology. --- the new deal. --- united states of america. --- wealth and poverty. --- wealth. --- world economy. --- E-books
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The unlikely story of how Americans canonized Adam Smith as the patron saint of free marketsOriginally published in 1776, Adam Smith's The Wealth of Nations was lauded by America's founders as a landmark work of Enlightenment thinking about national wealth, statecraft, and moral virtue. Today, Smith is one of the most influential icons of economic thought in America. Glory Liu traces how generations of Americans have read, reinterpreted, and weaponized Smith's ideas, revealing how his popular image as a champion of American-style capitalism and free markets is a historical invention. Drawing on a trove of illuminating archival materials, Liu tells the story of how an unassuming Scottish philosopher captured the American imagination and played a leading role in shaping American economic and political ideas. She shows how Smith became known as the father of political economy in the nineteenth century and was firmly associated with free trade, and how, in the aftermath of the Great Depression, the Chicago School of Economics transformed him into the preeminent theorist of self-interest and the miracle of free markets. Liu explores how a new generation of political theorists and public intellectuals has sought to recover Smith's original intentions and restore his reputation as a moral philosopher. Charting the enduring fascination that this humble philosopher from Scotland has held for American readers over more than two centuries, Adam Smith's America shows how Smith continues to be a vehicle for articulating perennial moral and political anxieties about modern capitalism.
Philosophy. --- Economics --- Mental philosophy --- Humanities --- History. --- Smith, Adam, --- United States --- Economic policy --- Economic theory --- Political economy --- Social sciences --- Economic man --- Smith, Adam --- Economic policy. --- Economic conditions. --- A Monetary History of the United States. --- Ambivalence. --- American Capitalism. --- American Enlightenment. --- American System (economic plan). --- American Thinker. --- Anna Schwartz. --- Bruno Hildebrand. --- Buoy. --- Buton. --- Capitalism. --- Chicago school of economics. --- Christian Kabbalah. --- Constantine IV. --- Corippus. --- E. P. Thompson. --- Early modern period. --- Ecclesiastical Latin. --- Economics. --- Economist. --- Economy. --- Essay. --- Ethics. --- Family resemblance. --- Forgotten man. --- Francis Fukuyama. --- Frank Hahn. --- Fraud. --- Free trade. --- Friedrich List. --- Fritz Saxl. --- Gilded Age. --- Greek fire. --- Historical figure. --- Hypothesis. --- Ideology. --- International trade. --- Interpersonal relationship. --- Invisible hand. --- Isaac Casaubon. --- Jacob Viner. --- James Tassie. --- Jewish history. --- Jewish studies. --- John Bates Clark. --- John Maynard Keynes. --- Kanji. --- Labor theory of value. --- Laissez-faire. --- Lateran. --- Learning. --- Lecture. --- Liberty Fund. --- Lifestyle (sociology). --- Lighting. --- Lionel Robbins. --- Marquis de Condorcet. --- Mercantilism. --- Michael Burawoy. --- Michael Freeden. --- Michael Polanyi. --- Milton Friedman. --- Moral economy. --- Muslim world. --- Neoliberalism. --- Occupy movement. --- Opportunity cost. --- Persuasion. --- Physiocracy. --- Policy advocacy. --- Political economy. --- Politics. --- Progress and Poverty. --- Propaganda. --- Protectionism. --- Raymond Geuss. --- Re-Define. --- Retirement. --- Richard T. Ely. --- Robert Nozick. --- Roman Law. --- Ronald L. Meek. --- Scottish Enlightenment. --- Self-interest. --- Sexual desire. --- Social phenomenon. --- Suggestion. --- Tariff of 1824. --- Tariff. --- The Philosopher. --- The Price of Admission. --- The Road to Serfdom. --- The Theory of Moral Sentiments. --- The Wealth of Nations. --- Thomas Robert Malthus. --- Treatise. --- Utilitarianism. --- Wealth. --- Whiggism. --- Willibald.
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