Description
"Thought provoking and fresh - this book challenges how we think about economics.”
Gillian Tett, Financial Times
For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/
Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity.
In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.
Table of Contents
1: Rethinking Capitalism: An Introduction
Michael Jacobs and Mariana Mazzucat
2: The Failure of Austerity: Rethinking Fiscal Policy
Stephanie Kelton
3: Understanding Money and Macroeconomic Policy
L. Randall Wray and Yeva Nersisyan
4: The Costs of Short-termism
Andrew Haldane
5: Innovative Enterprise and the Theory of the Firm
William Lazonick
6: Innovation, the State and Patient Capital
Mariana Mazzucato
7: Investment-led Growth: A Solution to the European Crisis
Stephany Griffith-Jones and Giovanni Cozzi
8: Inequality and Economic Growth
Joseph Stiglitz
9: The Paradoxes of Privatisation and Public Service Outsourcing
Colin Crouch
10: Decarbonisation: Innovation and the Economics of Climate Change
Dimitri Zenghelis
11: Capitalism, Technology and a Green Global Golden Age: The Role of History in Helping to Shape the Future
Carlota Perez
