Books on Capitalism, State Capitalism, Spirit of Capitalism, Relative Autonomy
Capitalism is an economic system in which capital, that is, goods or wealth
used to produce other goods for profit, is owned privately and profit is reinvested so as
to accumulate capital. The methods of the economic exchange in capitalism are unique.
In a barter system of economic activity a producer may grow a particular and
barter it for an equivalent value of another produce produced by someone else. In
capitalism, however, a person uses capital to produce goods and then sells those goods for
an amount of cash. The cash received is greater than the value of the goods produced. A
profit is created which allows for reinvestment in the capital stock and to support the
owner and producers.
Why was the rise of capitalism in Germany and Japan associated not with
liberal institutions and democratic politics, but rather with statist controls and
The histories of German and Japanese capitalism demonstrate that capitalism's
structural forms and functional relations evolve by means of different processes with
Relative autonomy perspective
assumes that the state can and does play a limited independent role in the maintenance and
stabilization of capitalist society.
John David Rose, quoting capitalism's icon Adam Smith, points out that
"Adam Smith's famous 'invisible hand' is just as apt to push present chiefs of
industry into fraud as honest productivity." Pressure of competition may force good
people to join bad people at the bottom of the moral barrel. It's not really a lack of
character. They have no choice. The financial market and stockholders demand it.
The Economic Sociology of Capitalism: Weber and Schumpeter Richard
Swedberg, Cornell University.
Points to a distinct puzzle in the analyses of capitalism found in the works of Weber and
Schumpeter, and gives a new introduction to their analysis of capitalism. They wrote
voluminously on capitalism, Economy and Society (Weber, 1978c 1922) and Business Cycles
(Schumpeter, 1939). From emphasizing the role of various voluntaristic elements, such as
the spirit of capitalism and the spirit of entrepreneurship, to stressing the role of
institutions, we can discern a distinct development in their thought over time.
Weber and Schumpeter both argue that a vigorous and healthy capitalism requires certain
economic and non-economic institutions, in addition to something else. An absence of this
'something else' may lead to capitalist petrification or collapse, according to them.
Schumpeter and Weber on the Institutions of Capitalism - Solving
Geoffrey Ingham, University of Cambridge
In a `new introduction' to their work, Richard Swedberg (2002) argues that Weber and
Schumpeter's 'economic sociology of capitalism' contains a 'puzzle'. They believe that a
vigorous capitalism requires `something else' in addition to the institutions outlined in
their respective ideal types and theories. Dynamic capitalism needs individuals who
possess a distinctive 'mentality' or `inner motivation' - which means a 'capitalist or
entrepreneurial spirit'. This introduction is consistent with the existing sociological
interpretations of Weber and Schumpeter. Both saw that a differentia specifica of
capitalism is the production of an elastic supply of credit-money by banks and states,
without which entrepreneurial activity could not take place.
IS GLOBAL CAPITALISM MORALLY DEFENSIBLE?
John H. Dunning, Reading and Rutgers Universities
Puts forth the case for responsible global capitalism, and the role of belief systems in
advancing or inhibiting economic efficiency and socially acceptable behaviour. Illustrates
how the content and effectiveness of three contemporary elements of the global economy,
which are, corporate social responsibility, the achievement of the millennium development
goals and the opening up of centrally planned economies to market forces.
The Challenge For Capitalism - Do we want a world in which greed is
the dominant driving force of the economic system?
This series is about destructive tendencies within the capitalist economic system and the
need to control the system so that it works for us, but not against us. Topics examine
economics, the role of business, the role of government regulation, competing against
ourselves, the business tendency to create non-competitive arenas and the lack of business
and personal responsibility. The issue raised is that excessive competition hurts us all.
The Political Economy of Post-Industrial Capitalism
George Liagouras, University of the Aegean (Greece)
The hypothesis is that industrial capitalism is outdated. We are entering a new era of
information or post-industrial capitalism. The term used here is
post-industrial capitalism mainly because the notion of information capitalism does not
define explicitly what is really new regarding the history of capitalism. Information
capitalism can be either post-Fordist, or post-industrial, or even a transition period
towards a post-capitalist society. Offers a systematic comparison between the basic
features of industrial and post-industrial capitalism. Explores three main contradictions
of post-industrial capitalism. The idea is that the future of post-industrial capitalism
remains open. It depends on how the contradictions of this new form of capitalism will be
The varieties of capitalism paradigm: not enough variety? - Matthew
Institute for German Studies, European Research Institute, Birmingham University
Attempts to shed light on some of the unstated assumptions of the varieties of capitalism
framework by comparing it with transaction cost economics as well as neoclassical
economics. Comparisons show that, within the varieties of capitalism approach, actors'
strategic preferences are assumed to be endogenous to the institutional environment in
which they operate. Important institutions are assumed to be uniformly spread across firms
within a national economy. Despite its claims to the contrary that it is an actor-centred
approach, the varieties of firms paradigm treats the varieties of firms as irrelevant.
Varieties of Capitalism in an Internationalized World - Domestic
Institutional Change in European Telecommunications - Mark Thatcher, London School of
Examines how internationalization affects domestic decisions about the reform of market
institutions. Nations maintain different "varieties of capitalism" in the face
of economic globalization because of diverse domestic settings. In an internationalized
world, powerful forces for change applying across border scan affect decision making
within domestic arenas. Argues that when different forms of internationalization are
strong and combined, they can overwhelm institutional inertia and the effects of different
national settings to result in rapid change and cross-national convergence in market
institutions. Different varieties of capitalism may endure only when international
pressures are low and/or for limited periods of time.
Varieties of capitalism in the twentieth century - R Dore, W Lazonick
and M O'Sullivan
Compares the century's history of the British and American, the two 'pioneers' whose
institutions and economic behaviour patterns most closely confirm to, and those of Germany
and Japan whose institutions most significantly deviate from, the prescriptions of
neo-classical textbooks. All four societies have changed in key respects; finance and
corporate control structures were arguably more similar in the 1920s than later. By the
end of the post-war golden age, there were signs of convergence on similar forms of
managerial capitalism. How far the transition to shareholder capitalism in Britain and
America over the last two decades will be duplicated in Germany and Japan.
Class Struggles and the Reinvention of American Capitalism in the Second
Half of the Twentieth Century - Victor D. Lippit, University of California
American capitalism has changed dramatically in the last fifty years. In the 1950s, a
capital-labor accord with workers in major industries meant receiving benefits in exchange
for ceding management broad rights. From 1970 to 2000 struggles between labor and capital
intensified, with capital gaining overwhelming strength. Examines the transformation of
FEUDALISM AND THE ORIGINS OF CAPITALISM - Rodney Hilton
There began in 1940 a lively discussion among English Marxists about the origins of the
capitalist mode of production, its political system and its culture. From 1946 began a
series of debates many of them focussing on the problem of the nature of late feudal
society in England and the timing of its transformation. The current of opinion was that
which identified the so-called Puritan Revolution as a bourgeois revolution of the same
kind as the French Revolution at the end of the 18th century.
Bunco Sharks and the Big Store: Understanding Capitalism Through Gilded
Age Fraud and Corruption - Jane G. Haigh
The growth of capitalism in the Gilded Age was marked by the increasing organization and
complexity of business and economic systems. The era's emphasis on entrepreneurial
capitalism was embraced wholeheartedly by an gamblers, and con men, as they sought to both
exploit and subvert the new rules, while using many of the same innovations and structures
as the bankers and business owners. Bunco sharks and con men practiced their games
nationwide, and formed an extensive network that traded information on the conditions
favorable for their operations. Bunco games and "big cons," in particular
developed new technologies: specific, narrative structures which worked nearly infallibly
to fleece a potential victim, in effect akin to software, and similar to the development
of the new financial instruments of banking. I suggest it may have something to teach us
about capitalism and especially its relationship to information.
Will Limited Needs Kill Capitalism?, Gilles Saint-Paul, Université des
Sciences Sociales de Toulouse - Gilles Saint-Paul (2006) "Will Limited Needs Kill
Capitalism?," Capitalism and Society: Vol. 1: No. 1, Article 4
Argues that a number of ``unorthodox" analyses of capitalism can be understood from
the point of view of orthodox economic theory. The argument is based on the assumptions of
monopolistic competition and that utility derived from consuming an individual good is
Varieties of welfare capitalism - Alexander Hicks and Lane
Kenworthy - Emory University, Atlanta, USA
Despite the influence of Esping-Andersen's categorization of three "worlds" of
welfare capitalism, researchers have neglected investigation of his dimensions of welfare
state policy and politics. Building on the foundations provided by Esping-Andersen, we
explore the identities and consequences of welfare state regime dimensions.
"Progressive liberalism", rearranges Esping-Andersen's separate "social
democratic" and "liberal" dimensions into two poles of a single dimension.
Positive pole is characterized by universal and homogeneous benefits, active labour market
policy, government employment and gender-egalitarian family policies. "Traditional
conservatism", is similar to but broader than Esping-Andersen's conservative
dimension. Pooled cross-section time-series regressions covering 18 countries over the
1980s and 1990s suggest that progressive liberalism is associated with income
redistribution and greater gender equality. The principal consequence of traditional
conservatism is weakened employment performance.
The Crisis of German and Japanese Capitalism - Stalled on the Road to
the Liberal Market Model? - STEVEN K. VOGEL, University of California, Berkeley
German and Japanese opinion leaders demand a decisive move toward the liberal market
model. Why can't Germany and Japan reform? We must understand how the German and Japanese
models of capitalism bind the potential winners from liberal reform, such as competitive
manufacturing exporters, to the potential losers, such as workers and protected service
industries. Competitive exporters are reluctant to embrace reforms that might undermine
valued relationships with workers, business partners and financial institutions. They
cannot forge a strong reform coalition because they must work through industry
associations and political parties that represent both competitive and protected sectors.
Germany and Japan proceed cautiously with reform.
The Legitimation of Capitalism in the Postcommunist Transition Public
Opinion about Market Justice, 19911996 - James R. Kluegel, David S. Mason and
Bernd Wegener - University of Illinois
Examines change in economic justice attitudes in five former communist states using data
from opinion surveys conducted in 1991 and 1996. Examines the implications of theory and
research concerning the popular legitimation of western capitalism for change in support
for market justice beliefs and norms among postcommunist publics. In the Czech
Republic and eastern Germany, public opinion is moving closer to market justice as found
in western capitalism, but socialist justice remains strong or is increasing in the other
three countries; in postcommunist countries correlations between support for market
justice norms and the perceived fairness of the existing economic order have become
stronger over time; private sector employment, and retrospective, current and prospective
standard-of-living evaluations each shape market justice beliefs and norms. Theory of the
public legitimation of capitalism in the West does apply in postcommunist states. Change
in market/socialist justice is a function of both collective and individual level factors.
Coverture and Capitalism - Amy Louise Erickson
The role of gender in the creation of a capitalist economy in England in the early modern
period. Capital in this period was both accumulated and transferred by means of marriage
and inheritance and the laws governing marriage and inheritance played a role in
structuring the economy. Under English law, married women under coverture were even more
restricted than in the rest of Europe. Single women enjoyed a position unique in Europe as
legal individuals in their own right without any requirement for a male guardian. The
draconian nature of coverture necessitated the early development of complex private
contracts and financial arrangements establishing a climate in which the concept of legal
security for notional concepts of property, the bedrock of capitalism, became commonplace.
Without the effect of legal guardianship, England had more people able to move capital
purely because that market included the unmarried half of the female population in
addition to the male population.
Turning Modes of Production Inside Out - Or, Why Capitalism is a
Transformation of Slavery
David Graeber, Department of Anthropology, Yale University
Marxist theory has largely abandoned the notion of the mode of production and
has encouraged a trend to abandon much of what was radical about it and naturalize
capitalist categories. A notion of a mode of production that recognizes the primacy of
human production might show us that capitalism, or at least industrial capitalism, has far
more in common with, and is historically more closely linked with, chattel slavery than
most of us had ever imagined.
The Problem of `Crony Capitalism': Modernity and the Encounter with the
Joel S. Kahn, La Trobe University. - Francesco Formosa, School of Social Sciences, La
Reflections on the problem posed by ostensibly perverse phenomena like political
patronage, corruption and crony capitalism for modernising narratives. Taking an
ethnographic example from Indonesia, it is argued that the continual attempt to relocate
such phenomena to terrains not properly modern precludes the possibility of serious
analysis or moral/political assessment of these phenomena.
Capitalism: Competition, Command, And Change
by Samuel Bowles, Richard Edwards, Frank Roosevelt
provides an introduction to economics with extensive attention to the global economy,
inequality and the information revolution. Focuses on competition in markets, command in
firms, and change as a permanent feature of a capitalist economy promoted by technical
innovation and conflict over the distribution of income.
America : Wealth, Power, and the Origins of Corporate Capitalism - by Charles Perrow
Over half the working population in America toils away at enterprises with 500 or
more employees, up from zero percent in 1800. Yale sociologist Charles Perrow shows that
there was nothing inevitable about the surge in corporate size and power by century's end.
How did a nation committed to individual freedom, family firms, public goods, and
decentralized power become transformed in one century? Vast resources, a mass market, and
the industrial revolution gave entrepreneurs broad scope. In America, the courts and
business-steeped legislators removed regulatory constraints over the century. Bureaucratic
structure spread to government and the nonprofits.
Rise Of Regulatory Capitalism:: The Global Diffusion Of A New Order by David
Levi-Faur, Jacint Jordana (Editors)
The current economic order is anything but free of regulation. Many policy changes
seem to have expanded and extended regulation. The international arena is increasingly
legalized, and new layer of regulatory controls is being created. Regulatory solutions
adopted in North America and Europe have spread across continents.
Examines the complex relationship between markets, regulation, private property, and
public institutions and studies the reasons for policy changes in the environment of
This issue includes articles covering globalization and diffusion in the following areas
of analysis: The Diffusion of Social Regulations
Theoretical Frameworks: The Diffusion of Regulatory Capitalism
The Diffusion of Economic Regulations
Bruggemann: Capitalism and Schizophrenia
by Stefan Bruggemann, Alexandra Garcia
The first section represents Brüggemann's artwork in a format as close as
possible to the artist's actual work. The second section includes critical texts, an
interview with the artist, Hans Ulrich Obrist and a photo essay . The third section offers
documentation of the artists exhibition installations.
Origins Of Nonliberal Capitalism: Germany And Japan In Comparison (Cornell Studies in
by Wolfgang Streeck (Editor), Kozo Yamamura (Editor)
Why was the rise of capitalism in Germany and Japan associated not with liberal
institutions and democratic politics, but rather with statist controls and authoritarian
The contributors discuss the potential disappearance, evolution, and reconstitution of
nonliberal capitalism in Germany and Japan. The histories of German and Japanese
capitalism demonstrate that capitalism's structural forms and functional relations evolve
by means of different processes with different goals.
Capitalism From Corporatism: Greed And The American Corporate Culture by John David
The United States clearly identifies itself as a capitalist nation.
The right to "do business" is given equal weight to freedom of speech and
Most Americans, if not all business people, believe that "corporate America is
Rose challenges multi-million compensation packages with, "If stockholders own a
corporation and CEOs are employed to manage it, why do the hired hands come out so far
ahead and the owners so far behind?"
"Trust is essential to capitalism," Rose stresses. "Without it no rational
person will give a portion of his or her wealth to another to manage."
Quoting capitalism's icon, Rose points out that "Adam Smith's famous 'invisible hand'
is just as apt to push present chiefs of industry into fraud as honest productivity."
Rose concludes with six Limits on corporate power he believes critical to the rescue of
capitalism and Seven Proposals to move from laissez faire to free enterprise.
and Change : The Transformation of Global Capitalism - by Berch Berberoglu
Examines the origins, development and transformation of global capitalism from a critical
perspective. The book examines the class forces that have come to define the nature of
class relations and class struggles.
Social Privilege and Managerial Ideologies
by ERNESTO R. GANTMAN
Evolution of administrative thought from the nineteenth century to the present,
considering it as ideological discourse.
Gantman shows how each successive discourse about the organization of work serves to
legitimate social interests.
Capitalism : Daring to Be Different in a Copycat World
by Jonas Ridderstrale, Kjell A. Nordstrom
The authors of the international
bestseller, Funky Business, present a provocative analysis of the social and cultural
forces that are defining the business landscape. "Karaoke" capitalism refers to
the philosophy of imitation, engrained into the corporate mindset by such popular concepts
as benchmarking and best practice. The only way to survive is to chuck convention, to
embrace your company's individual personality.
Capitalism, and Democracy in the New America by Richard Brown
The United States is moving from an industrial to a postindustrial society, from a
modern to postmodern culture, and from a national to a global economy. Richard Harvey
Brown asks how we can distinguish the uniquely American elements of these changes from
more global influences. The ways in which economic imperatives give shape to the shifting
experience of being American. Brown investigates continuity and change in American race
relations, politics, religion, conception of selfhood, families, and the arts.
And Global Capitalism: From The Nineteenth To The Twenty-first Century by Geoffrey
A contribution to contemporary globalization debates by providing a survey of the
growth and role of multinational enterprises in the world economy over the last two
hundred years. Shows how entrepreneurs built a global economy in the nineteenth century by
creating firms that pursued resources and markets across borders. The role of
multinationals is placed within their wider political and economic context.
Of Capitalism, Varieties Of Approaches - by David Coates (Editor)
Though comparative political economy is now rich in studies of different advanced
capitalisms, it still lacks a systematic consideration of the organizing frameworks and
methodologies. Outlines the two great debates currently shaping the analysis of advanced
Civil Republic: Beyond Capitalism And Nationalism by Severyn T. Bruyn
How components of civil society are indebted to corporate interests. How they can
move beyond conventions of capitalism and nationalism.
Severyn T. Bruyn argues that the world at large, is on the verge of a radical shift. Our
ability to craft a secure future lies in creating a "civil republic."
Bruyn envisions a system of governance that merges core human values of civil society into
a political economy. He explores ways to implement a new model that builds a civil society
beyond the conventions of capitalism and nationalism.
at the Crossroads : The Unlimited Business Opportunities in Solving the World's Most
Difficult Problems by Stuart L. Hart
Global capitalism stands at a crossroads, facing international terrorism and
worldwide environmental change. Global companies are at a crossroads, finding new
strategies for profitable growth has never been more challenging. In Capitalism at the
Crossroads, Hart shows companies how to identify sustainable products that can drive new
growth and also solve today's most crucial social problems. Hart shows how to integrate
new technology to deliver profitable solutions that reduce poverty and protect the
environment at the same time. This book points the way toward a capitalism that's more
Globalization Good: The Moral Challenges of Global Capitalism by John H. Dunning
Leading thinkers in international business and ethics identify the pressing moral
issues which global capitalism must answer. How can we develop a global economic
architecture, which is efficient, morally acceptable, geographically inclusive and
sustainable over time?
Cradle of Capitalism, 1280-1390 by James M. Murray
Medieval Bruges provides an early model of a great capitalist city. The factors
which contributed to Bruges' economic success. A case-study in medieval economic history,
and the social and cultural history of medieval Bruges.
Capitalism: Management For Mankind
by Jonas Ridderstrale, Kjell Nordstrom
A thought-provoking workout for the wits in Karaoke Capitalism. Challenges
individuals, businesses and nations to create originals rather than cover versions. Tom
Peters said "If you loved Funky Business as much as I did, youll love Karaoke
The karaoke economy is dominated by individuals with endless choice. Karaoke club is also
home to institutionalized imitation. Only imagination and innovation place societies,
organizations and individuals center-stage.