The Decline of Capitalism

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Dezember 2004



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.


1. The Long Road to Disaster, Taming the business cycle, Post-war delusions, The return of the business cycle and the rejection of orthodoxy, The cancer of "moral hazard", Liberalisation and the "race to the bottom", 1980-2000: the failure of neo-liberalism;
2. The Deluge Postponed Distorting market forces, Financial liberalisation, Sustaining the return on investment, Technology the new enemy, The search for new investment outlets;
3. The Surfeit of Capital and its Consequences, The plundering of the public sector, The appetite for high risk, High-tech fantasies;
4. The Dishonesty of Desperation, The limits of manipulation, The culture of fraud, Complicity of the state;
5. A System Past Reforming, An exercise in cosmetics, Inescapable pressures of the market, The price of accountability, The stakeholder myth;
6. No End to Denial, Falsifying the numbers, The response to the pensions crisis: a case-study in fantasy, Compulsive optimism in the markets, An admission of defeat?, The triumph of mendacity over experience;
7. Beyond the Cataclysm, A new dispensation for enterprise, Reordering economic priorities, Averting total collapse, Resistance and repression, An age of unreason?; Index


Harry Shutt is an independent economic consultant. He is the author of The Trouble with Capitalism (Zed Books, 1999) and A New Democracy: Alternatives to a Bankrupt World Order (Zed Books, 2001)
EAN: 9781842774014
ISBN: 1842774018
Untertitel: Can a Self-Regulated Profits System Survive?. Sprache: Englisch.
Verlag: Zed Books Ltd
Erscheinungsdatum: Dezember 2004
Seitenanzahl: 160 Seiten
Format: kartoniert
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