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Following the path set by his previous work, The Trouble with Capitalism: An Enquiry into the Causes of Global Economic Failure (LJ 6/15/98), British economist Schutt decries what he describes as the systemic collapse of the global financial system. Within this slim text he discusses a broad range of topics, including social responsibility, public accountability, environmental care, high unemployment, rising poverty, the power elite, national sovereignty, and the economic and social breakdown of nations. Seeking a link between politics and economics, Shutt proposes an alternative system in which the United Nations becomes the supranational entity that regulates world financial activity and governments own the means of production, regulate markets, restrict commerce, and redistribute wealth and income as part of a mandatory global welfare system. Unfortunately, the author lacks a means of quantifying his assertions and relies on discarded collectivist rhetoric. Readers will find Seymour Melman's After Capitalism (LJ 9/15/01) or Liah Greenfeld's The Spirit of Capitalism (LJ 10/15/01) more useful. Not recommended. Norm Hutcherson, California State Univ., Bakersfield
Copyright 2002 Cahners Business Information, Inc.
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