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Capitalism

The Future of an Illusion

By: Fred L. Block

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Paperback | 4 May 2018 | Edition Number 1

At a Glance

Paperback
264 Pages

Dimensions(cm)
2.27 x 1.29 x 0.16

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$51.15

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“Capitalist,” a term that once belonged almost exclusively to the political left, is now used by everyone to describe the society in which we live. Yet this broad consensus has become part of a problem—the false idea and deep-seated illusion that the economy is autonomous and should be governed by its own laws, even if it means restricting the scope of democratic decision-making.

In Capitalism, leading economic sociologist Fred L. Block explains how U.S. politics got caught in a loop that alternates between center-left Democrats and increasingly extreme-right Republicans. Block argues that to exit this cycle of raised hopes followed by dashed dreams, we must challenge the idea that we live in a society that operates according to its own inner laws. Compellingly written and full of examples of the consequences of our absence of political imagination, Capitalism guides us through the reality that market societies are complex institutional hybrids and that, periodically, we must consider (despite our own fears) replacing our existing economic system to restore economic vitality.

Industry Reviews

"This insightful analysis of capitalism places primary emphasis on the subtitle of the book." * CHOICE *
"Block's prose is sharp, unaffected, and devoid of cumbersome jargon and fastidious technicality. His informed, synthetic overviews of significant historical cases of successful economic development (e.g. nineteenth-century America) or more or less disastrous decline (e.g. 1990s Russia, and the gold standard regime) are true gems of crystal-clear and intelligent brevity. As such, his book should appeal to the educated public at large, well beyond the confines of academia alone." * The European Legacy *
"[Block] rightly shows that, without government constraints, the rich and powerful shape capitalism to give themselves the advantage, undermining competition and exploiting others, eventually undermining the capitalist system itself." * Times Literary Supplement *

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