Austerity is at the center of political debates today. Its defenders praise it as a panacea that will prepare the ground for future growth and stability. Critics insist it will precipitate a vicious cycle of economic decline, possibly leading to political collapse. But the notion that abstinence from consumption brings benefits to states, societies, or individuals is hardly new. This book puts the debates of our own day in perspective by exploring the long history of austerity-a popular ...

Something is profoundly wrong with the way we think about how we should live today.In Ill Fares The Land, Tony Judt, one of our leading historians and thinkers, reveals how we have arrived at our present dangerously confused moment. Judt masterfully crystallizes what we've all been feeling into a way to think our way into, and thus out of, our great collective dis-ease about the current state of things.As the economic collapse of 2008 made clear, ...

With capitalism vulnerable and out-of-step in the wake of financial crises this book investigates the alternatives that are on offer-including socialism, anarchism, and deep ecology. It picks its way through the pockets of resistant thinking and emerges with paths to changing the world that rest less on rigid ideology imposed from above than on practical transformation from below.Richard Swift is former editor of New Internationalist magazine and author of...

"What I am seeking here is a better understanding of the contradictions of capital, not of capitalism. I want to know how the economic engine of capitalism works the way it does, and why it might stutter and stall and sometimes appear to be on the verge of collapse. I also want to show why this economic engine should be replaced, and with what." --from the Introduction To modern Western society, capitalism is the air we breathe, and most people rarely think to question it, for goo...

In this book, Nobel Prize-winning economist Edmund Phelps draws on a lifetime of thinking to make a sweeping new argument about what makes nations prosper--and why the sources of that prosperity are under threat today. Why did prosperity explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing"--meaningful work, self-expression, and personal growth for more people than ever before? Phelps makes the case that the wellspring of thi...

What is capitalism? Is capitalism the same everywhere? Is there an alternative? The word 'capitalism' is one that is heard and used frequently, but what is capitalism really all about, and what does it mean? The book begins by addressing basic issues such as 'what is capital?' before discussing the history and development of capitalism through three detailed and absorbing case studies ranging from the tulipomania of seventeenth-century Holland to the recent Enron crisis in America. Fulcher...

The national bestseller that shows how the American Dream is languishing, surpassed worldwide by a powerful alternative in the lifestyle of the new Europe.

History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. The Big Three in Economics traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state.

The euro crisis is tearing Europe apart. But the heart of the matter is that, as the crisis unfolds, the basic rules of European democracy are being subverted or turned into their opposite, bypassing parliaments, governments and EU institutions. Multilateralism is turning into unilateralism, equality into hegemony, sovereignty into the dependency and recognition into disrespect for the dignity of other nations. Even France, which long dominated European integration, must submit to Berlin’s...

In Does Capitalism Have a Future?, a global quintet of distinguished scholars cut their way through to the question of whether our capitalist system can survive in the medium run. Despite the current gloom, conventional wisdom still assumes that there is no real alternative to capitalism. The authors argue that this generalization is a mistaken outgrowth of the optimistic nineteenth-century claim that human history ascends through stages to an enlightened equilibrium of liberal ca...

The European Union is in crisis. Crippled by economic problems, political brinkmanship, and institutional rigidity, the EU faces an increasingly uncertain future.In this compelling essay, leading scholar of European politics, Jan Zielonka argues that although the EU will only survive in modest form - deprived of many real powers - Europe as an integrated entity will grow stronger. Integration, he contends, will continue apace because of European states’ profound economic interdepen...

The Making of Modern Economics presents a bold and engaging history of economics—the dramatic story of how the great economic thinkers built today's rigorous social science.This comprehensive yet accessible introduction to the major economic philosophers begins with Adam Smith and continues through to the present day. It examines the contributions each one made to our understanding of the role of the economist, the science of economics and economic theory. Boxes in each ch...