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Capitalism, Alone
Book

Capitalism, Alone

The Future of the System That Rules the World

Belknap Press, 2019 mais...


Editorial Rating

8

Qualities

  • Analytical
  • Eloquent
  • Engaging

Recommendation

Capitalism is today dominant throughout the world. But China shows that Western hopes of liberal democracy naturally following capitalist economic prosperity have not materialized. Professor Branko Milanovic takes on the broad, ambitious topic of global capitalism’s features and flaws, including growing wealth and rising inequality, and comes up with a number of original and convincing conclusions. His thought-provoking and articulate text makes for a noteworthy addition to current literature on the future of capitalism. 

Take-Aways

  • The  world has largely adopted capitalism, but clear distinctions exist between “liberal capitalism” and “political capitalism.”
  • Countries practicing political capitalism focus on higher growth rates and rely on rapid gains to give their governments legitimacy.
  • Due to rule by discretion rather than rule by law, political capitalism inherently produces a system in which corruption can thrive.

About the Author

Branko Milanovic is a professor at the City University of New York. He was formerly lead economist in the World Bank’s research department.


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    E. A. 4 years ago
    Very sensible framing of what is happening to China's social-political changes.

    Prof. Milanovic's ideas would feel much more well-rounded if effects of "political capitalism" on former Eastern Bloc nations (as well as Russia) are also examined.

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