The Decline of Capitalism: Can a Self-Regulated Profits System Survive - Hardcover

Shutt, Harry

Hardcover

ISBN 10: 184277400X ISBN 13: 9781842774007

Publisher: Zed Books, 2004

Synopsis

Should we be more concerned that collapsing share values and widespread corporate failure and fraud beg some serious questions about the viability of the present world economy? Harry Shutt persuasively demonstrates that the present crisis is the culmination of 30 years of deepening stagnation. Faced with a long-term trend of reduced demand for both capital and labor the world economy has only avoided a vast recession through growing reliance on official subsidy and market distortion. Shutt points out that regulatory reform can only work by limiting profitability but that a more sustainable model is unacceptable to ruling elites. He outlines an agenda for fundamental changes, based on the premise that the primacy of private profit is no longer compatible with the priorities of modern democracies.

About this title

About the Author:

Harry Shutt was educated at Oxford and Warwick Universities and is the author of A New Democracy: Alternatives to a Bankrupt World Order (Zed Books, 2001).

Review:

'This book challenges the prevailing economic euphoria of the 1990s, and foreshadows many of the subsequent financial upheavals.' Development and Environment 'Describes the breakdown in the functioning of the global economic order based on the capitalist profits system, revisiting and updating the analysis of the The Trouble with Capitalism (1998).' Journal of Economic Literature

About this edition

• Publisher: Zed Books
• Publication date: 2004
• ISBN 10: 184277400X
• ISBN 13: 9781842774007
• Binding: Hardcover
• Number of pages: 160