Book Description

A century after the publication of Max Weber’s The Protestant Ethic and the “Spirit” of Capitalism a major new work examines network-based organization, employee autonomy and post-Fordist horizontal work structures.

Why is the critique of capitalism so ineffective today? In this major work, the sociologists Eve Chiapello and Luc Boltanski suggest that we should be addressing the crisis of anticapitalist critique by exploring its very roots.

Via an unprecedented analysis of management texts which influenced the thinking of employers and contributed to reorganization of companies over the last decades, the authors trace the contours of a new spirit of capitalism. From the middle of the 1970s onwards, capitalism abandoned the hierarchical Fordist work structure and developed a new network-based form of organization which was founded on employee initiative and relative work autonomy, but at the cost of material and psychological security.

This new spirit of capitalism triumphed thanks to a remarkable recuperation of the “artistic critique”—that which, after May 1968, attacked the alienation of everyday life by capitalism and bureaucracy. At the same time, the “social critique” was disarmed by the appearance of neocapitalism and remained fixated on the old schemas of hierarchical production.

This book, remarkable for its scope and ambition, seeks to lay the basis for a revival of these two complementary critiques. ... Read more

Book Description

A witty and accessible tour de force that is immersed in the latest economic thinking, Culture and Prosperity is an indispensable guide to the world around us and destined to become a classic text for understanding the politics of globalization.

Guided by the belief that a combination of lightly regulated capitalism and liberal democracy -- the American business model -- is not just appropriate for America at the dawn of the twenty-first century, but a universal path to freedom and prosperity, the United States is an unrivaled colossus seeking to remake the world in its own image.

After a decade of successive market revolutions around the world, beginning with the collapse of the Berlin Wall and continuing in countries as diverse as Argentina and New Zealand, the effectiveness of the market economy as a route to prosperity and growth is not in question, but a more sophisticated appreciation of the strengths and limits of markets is urgently required.

In this new and illuminating analysis of the nature and evolution of the market economy, John Kay attacks the oversimplified account of its operation, contained in the American business model and favored by politicians and business people. He even questions whether it offers an accurate description of the success of the American economy itself.

In an absorbing argument that rewards close reading, and rereading, Culture and Prosperity examines every assumption we have about economic life from a refreshingly new angle. Taking the reader from the shores of Lake Zurich to the streets of Mumbai, from the flower market of San Remo to the sales rooms at Christie's, John Kay reveals the connection between a nation's social, political, and cultural context and its economic performance.

Reviews (5)

A book for social democrats and europhiles
New Keynesians, Europhiles, and those who like to set up a straw-man model of the American economy and then have it will like this book a great deal. Mr. Kay has an elegant and confident style that inspires belief that his pronouncements are the way things are. He does not have much use for the Chicago school of economics, nor of the idea that small government and lower taxes can add vibrancy to an economy. He is a Social Democrat who sees little difference between Mao, Stalin, and the management at Ford Motor Company.

This idea is so strange as to seem laughable to me. Mao and Stalin brutalized entire peoples and mismanaged entire countries. Ford, an international company, is still a miniscule part of the American economy and any mismanagement it might engage in has much more limited effects. Employees who dislike working at Ford and consumers who become disenchanted with its products have other places to work and other products to buy. The citizens of the USSR and China had no such option.

Mr. Kay also says, strangely, that European productivity is higher than that in America but really doesn't explain the way the measurement is made nor the effect the recently higher Euro against the Dollar has played in that measurement. I am not declaring him wrong, I simply would like to have a more complete demonstration of his claim.

A most egregious mistake he makes, like many who dislike capitalism, is to equate greed with self-interest. He claims that many people do things that are not directly related to acquisition or more money or material goods and claims this to be a proof that people don't act as capitalism claims. Adam Smith and other explainers of the capitalist model and any of us who believe it in always talk about rational self-interest NOT naked greed, which is a form of irrationality. That people want to build concert halls or have parks or shelters for the indigent is not irrational nor against a person's self-interest. However, opponents of capitalism need to have greed as the straw man to knock down however silly the claim that it is a foundational principle of capitalism.

Does the book explain why some nations are rich but most remain poor as the subtitle promises? I think that Hernando Desoto's "The Mystery of Capital" is much more convincing. But I have my own beliefs, and while I am a fan of European history and culture, I think that Socialism has cost Europe a great deal. However, you may believe differently and if you do, you will likely enjoy this book more than I.

A description of how complex comparative economics is
There have been many arguments put forward as to why some nations seem forever destined to remain poor and others, primarily European in cultural heritage, are prosperous. Those arguments range from the extreme believers in absolutely free markets as the reason for wealth to the relentless and continuous exploitation of the poor as the reason for poverty. As is nearly always the case when there are two extremes, the truth is somewhere in the middle, with each nation having different reasons for their economic performance. However, there are some general reasons, and Kay cites them with examples.
The first requirement for prosperity is a government whose members are not concerned solely with increasing their personal wealth. Although there are many others that he could have used, Kay cites the example of Joseph Mobutu in the Congo (Zaire). In terms of natural resources, the nation is extremely wealthy, but under Mobutu the country, with the exception of his cronies, was completely bankrupted. Kay also places a lot of blame on Western institutions that supported the Mobutu regime, lending billions of dollars that have largely vanished with no physical evidence remaining. Organized mineral production in the country has largely ceased.
In general, the countries of sub-Saharan Africa all suffer from the problem of greed and weak, incompetent government. In an excellent quote, Tom Friedman states, "Come to Africa- it's a freshman Republican's paradise. Yes, sir, nobody in Liberia pays taxes. There's no gun control in Angola. There's no welfare as we know it in Burundi, and no big government to interfere in the market in Rwanda. But a lot of their people sure wish there were." These examples also demonstrate that free markets are not the answer. Some of the freest markets in the world are in these countries, where bandits rule by controlling mining and then sell their ill-gotten gains to the highest bidder. Government leaders also readily sell their decisions to the one willing to pay the most. It is very sad to note that in many of these countries, economic productivity is now lower than it was when they were still under colonial rule.
Stable governments with honest leaders are also not enough. Kay cites the example of Tanzanian President Julius Nyerere, one of the few honest leaders to emerge in sub-Saharan Africa. Nyerere ran a government largely free of corruption and tried to develop factories and a stable economic infrastructure. Under his rule, Tanzania was considered one country that could possibly rise from the muck that is the disaster of Africa. Unfortunately, despite all of the aid and advice from Westerners, the GDP of Tanzania was lower when Nyerere retired than it was when he took office. One giant factory designed to supply the entire country with shoes was a disaster and never operated at more than 5% of capacity before it was closed.
Kay also has a true sense of history, something often lacking in modern commentators on economics. He reminds us that the early industrial revolution in England was very hard on the social structure, people and the environment. Thousands were herded into slums to provide the labor pool, and left to fend for themselves when they were no longer needed. Children were forced to work very long hours at dangerous jobs that required someone of their size and dexterity. Westerners travel to sweatshops in third world countries and are strongly critical of the conditions they find. It is often forgotten that the conditions they find are much better than when Europe industrialized. The reality is that economic conditions eventually dramatically improve, it just takes some time.
In examining the conditions that lead to a country being prosperous, Kay concludes that the following conditions must hold:

* Stable, honest government.
* Laws that clearly define property rights and that are enforced in an even-handed way.
* A sense of community, where people do not blindly follow the path of personal self-interest.
* A spirit of innovation, where new ideas are constantly generated, tried in small experiments and then only executed in the large when they have passed the initial tests.

Kay also spends a great deal of time on the American stock market bubble fueled by the dot-com craze of the nineties. His statements and conclusions regarding the behavior of the American economy will not please those who praise it as the model of efficiency. He considers the descriptions of the American economy to be vastly oversimplified and even whether they accurately describe how it functions.
I enjoyed the book, especially the examples of economic successes and failures. So much so, I wished there had been more of them. A large section is spent on describing the fundamentals of markets, which I largely skimmed. One thing is very clear. In performing a comparison of the economic performance of countries, you realize how complex economic productivity is. Those who argue that all will be well if only free markets and democracy take hold are misguided and/or simple-minded. Societies and cultures are extremely complex and Kay demonstrates that even well intentioned actions can be detrimental.

Analysis of the intersection of culture and economic theory
The subtitle to this book describes the content succinctly - "Why Some Nations are Rich but Most Remain Poor". Author John Kay, a prominent British economist, postulates that one of the reasons is due to cultural factors. These cultural norms may both free and confine the society when it comes to prosperity. If international trade benefits both rich and poor countries then why do poor countries remain poor? In a brilliant exposition of economics he argues that it is not the free markets and constant search for materialistic acquisition that has made America prosperous but it is largely a factor of the various institutions we have in place. That is one reason why many countries have been unsuccessful in trying to emulate the American economic machine. If our success were based entirely on free markets then bringing them to other countries would allow them to prosper, but they often do not. If you were taught the traditional Adam Smith and Keynesian economic models you will be delighted with this additional perspective on the international market and why our models often don't work in other countries. By the same token the models that work in their cultures may not work at all in ours. A fascinating read and a fresh view of international economics, "Culture and Prosperity" is a highly recommended book.

Illuminating if a bit dense
John Kay is one of those writers with the rare knack for making economics understandable, and his skills are in full display in this book. Kay offers a sophisticated critique of the assumption that markets can, on their own, guarantee prosperity, and he shows how culture and institutions play a crucial role in driving economic growth. At the same time, he rejects facile attacks on capitalism, arguing convincingly that markets remain the most powerful engine of prosperity ever invented.

Kay's style is generally quite readable, but at times here -- more so than in his FT work -- he gets bogged down in theory and detail, and there are ponderous passages to wade through. On the whole, though, this is illuminating stuff, and anyone interested in understanding why some parts of the world are rich while others are poor should take a look.

Informative and entertaining
This excellent book is an illuminating introduction to the key economic issues of our time. I had never imagined that a book on economics could be interesting, yet this work has shown me not only that the label of 'the dismal science' is unjustified, but also that the workings of the market economy can be explained with wit and lucidity. Highly recommended. ... Read more

Reviews (2)

Jim
It is unfortunate the turn that the field of Geography has made into the Marxist realm. While the academic side of geography takes comfort in the "feel good" ideas of this approach, it serves no purpose in advancing relevant work.

Do your self a favor - skip this book and go buy an old copy (prior to 1970) of almost any geography text. You will be much better served.

Brilliant revitalization of Geography
The influence of David Harvey on the academic discipline of geography cannot be overstated. With incredibly perseverance, Harvey called for greater ethical commitment right from the 1970s which saw the beginning of his career. This book charts the course of his views as they change from then till now. Before I tell you what the book is about, let me say a few words about the style: Harvey writes in incredibly moving and deceptively simple prose (though his ideas are as complicated as any of the Continental thinkers who dominate elite theory today). In a community of theorists who rival each other in being prolix and obscure, this is truly refreshing.

The first part of the book contains several essays, written between 1974 and 2000, all exploring two key themes:1) the discipline of geography and its relevance to today and 2) the nexus between certain forms of geographical knowledge and political power. Some essays are absolute gems. Specially noteworthy are the last two: City and Social Justice, and Cartographic Identities. In the first, Harvey theorizes the possibility of radical urban grassroots movements and the conditions for their 'success' (a bit problematic it must be admitted with its urbanist telos, specially for someone from the economic South like me) and in the second, he envisions a program for a synthetic study of (mostly mutually noncompatible) geographical knowledges constitued at different institutional sites (academic, the State apparatus, transnational orgs like IMF etc, multinational corporations, military, popular knowledge etc etc) as a task for geographers of the near future.

The second set of essays try with great skill (though it must be admitted that to someone not overly familiar with the historical-materialist tradition, they are hard to get through) to insert the thematics of space (especially important when one considers the growing unequality of development in today's world and the international (gendered) division of labor)in a historical-materialist tradition with the project of founding a historico-geographical materialist tradition.

In any case, WHATEVER your background read this book. You may not agree with everything but it will trulymake you question a lot of your received notions. ... Read more

Book Description

A dazzling blend of business vision, history, social psychology, and economics, The Support Economy starts with a compelling premise: People have changed more than the corporations upon which their well-being depends. In the chasm that now separates the new individuals from the old organizations is the opportunity to forge a capitalism suited to our times and so unleash a vast new potential for wealth creation.

In recent years, many books have offered fixes for this crisis, but they have dealt only with its symptoms. The Support Economy is the first book to critically examine its cause: Managerial capitalism has outlived the society it was once designed to serve. It successfully achieved the efficient production of goods and services, but today's individuals want more. They want to take their lives into their own hands and are ready to pay for the support and advocacy necessary to fulfill that yearning. The next leap forward in wealth creation depends upon developing a new capitalism that speaks to the needs of people today.The Support Economy will be the next "must read" big think book. It speaks to every business and technology leader, as well as every reader interested in the future of the economy and society. ... Read more

Reviews (23)

The Support Economy by Shoshana Zuboff
The overall thrust of the book admits to the success of the
managerial economy in maximizing efficiency. The human dimension
has lagged behind the maximization formulas. Many corporations
can no longer guarantee a life time employment scenario.
Therefore; it is important to develop a strong entrepreneurial
class/capability to take up the slack. The authors discuss
"distributed capitalism" to empower individuals to exploit the
new technologies . The authors discuss an important concept
which involves merging infrastructure activities to exploit
strengths in the bureaucratic systems and distribute these
advantages across a wide spectrum of users. The book makes
a point in explaining that half of what people buy today
was not available a century ago. The authors envision a solution
in home employment to empower the babyboomers well into the
future. This is an important work. It could be developed
further in some of the aforementioned areas. For instance,
there is a wide array of government assistance available to
small business owners and aspirants. This aspect could have
been developed more fully. Matthew Lesko has a number of
government self-help books on the subject of government
grants, giveaways and low cost loans for small business.

A New Framework for Business
This is a book of two parts. The first is a detailed examination of why managerial capitalism has reached the end of its useful life. Zuboff and Maxmin say that because the system is out of date it cannot serve the needs of todays consumers. They also say that its inward focus results in scandals like Enron because managers think the comany is there to serve their needs, Managers are at the center of the system and value is inside the company. All of this was ok for making things but failed to deliver good service because it was not designed to do this. It used technology to reduce cost and depressed the impact of the internet. The net result is that we as consumers have changed, management has not and we suffer. WE seek help and only get a bloody nose.. The second part of the book follows the logic of the demise the managemet system Here value goes outside the company and rests with individuals ( it is distributed) To achieve alignment everything else ( control systems, ownership etc ) becomes distribed and wealth is realised by allowing people to live life on their own terms- by providing them with ' deep support" Here the techological and organisational vision is revolutionary. You need to forget all you have learned and think about capitalism from the ground up. The authors envision using digital platforms to provide common data and service. They suggest this will take 30% plus out of todays cost. These platforms will be base for new services and levels of support ranging from the fully automated to the personal. Here are advocates who navigate the world on your behalf. This is a whole new function ... they provide the ultimate range of support . They represent federations whose sole purpose is to provide different levels of support leveraging off the digital platforms. Federations obtain products and servcie from enterprises which come together and break apart .The whole concept is unique and extremely challenging. The idea is to create debate not to be perscriptive. The story of the family used to illustrate the metaprinciples of distributed capitalism is great. It makes you understand how different things can be and need to be. Zuboof and Maxmin have convinced me not only that change is necessary and inevitable but there is a new future to write. Some people may dismiss their ideas as too radical but look at their track records- they know what they are talking about. The world needs more creative and visionary thinkers like this-people who are not affraid to embrace the future and challenge the status quo-- we should all applaud them

An Outstanding Diagnosis
I strongly recommend The Support Economy.

I'll start with the negatives -- it took me about 100 pages to really get into it; like most business books the authors repeat themselves; the future state they outline is sketchy; and they don't even really attempt to describe how we get from here to there.

The reason I'm recommending it is that Zuboff and Maxmin absolutely nail the diagnosis of what's wrong with the interaction between producers and consumers today -- the way that individuals (at home and at work) are the shock absorbers between what enterprises know how to do and what people today need; the reason that managerial capitalism has to give way to, well, something new that they call "distributed capitalism;" the need to move beyond the relentless optimization of transactions and towards the maximization of value in the context of people's lives. And, thinking about my own situation and those of many of my peers, it just rings true. My personal trainer (who is also an event planner) is a kind of poster child for this new capitalism.

While "support" is in the title, this isn't a book about technical support -- it's about a new value proposition of people helping people, not just better-products-cheaper. That being said, it is strongly influencing my thinking about technical support in general and my consulting company's value proposition in particular.

Stellar!!
This book has changed the way I think about the world and business. I never thought about the fact that when markets change the way we do business must change. The book calls us ' history's shock absorbers" as we live with the pain and opportunity that arises when one business model is dying and another is being born. The book is packed with insights, facts and theory that open the mind to a new way of doing business. It is ground breaking stuff. We never think about capitalism in our everyday business lives but maybe we should have done . We are part of history and we can make more money and build better corporations if we really understood this. I would recommend this book to everyone. It is a great read and a map to a new future.

A Pedantic Mess of a Good Idea
These authors are on the right track but they are more interested in impressing readers with their vocabulary than following through with some do-able solutions. I firmly believe that corporations need to catch up to what the customer really wants but this book meanders through a maze of technical and non-related issues which distract from the great theme it is about. I trudged through the whole book waiting for an answer to the problem I could understand but there was absolutely no common sense I could grasp that would lead me to a satisfactory conclusion. Felt like I was back in school again. Ugh! ... Read more

Reviews (2)

Is this already happening???
This is a good book. It was recommended to me by a friend who took the professor's philisophy class. The professor provides an excellent lesson on capitalism. The economic democracy that the professor proposes is fascinating because it eliminates capitalism. First, the professor explains why capitalists are inherently bad for democracy, then he explains how we can do without capitalists, then he explains how we being to phase capitalists and their effects out of society. This is not a book that comes from far out in left field. In fact, I am the son of a father who is a member of a worker-collective right here in Chicago. Economic democracy is happening, but will it go as far as proposed in this book? If economic democracy is superior to capitalism, is there any other alternative for our future?

A vision of "Economic Democracy"
The evils of centrally planned socialism on the Soviet model are widely proclaimed, but capitalism has equally negative side effects: gross maldistribution of the fruits of the economy, the breeding of a mass consumer culture, and destruction of the environment among them. Capitalism may well collapse under its own excesses, but what would one propose to replace it? Margaret Thatcher's mantra was TINA...There Is No Alternative. David Schweickart's vision of "Economic Democracy" proposes a serious alternative. Even more fundamentally, it opens the door to thinking about alternatives. His may or may not turn out to be the definitive "successor system," but he is a leader in breaking out of the box. ... Read more

Book Description

Poverty reduction on a large scale depends on empowering those who are most motivated to move out of poverty—poor people themselves. But if empowerment cannot be measured, it will not be taken seriously in development policy making and programming.

Building on the award-winning Empowerment and Poverty Reduction sourcebook, this volume outlines a conceptual framework that can be used to monitor and evaluate programs centered on empowerment approaches. It presents the perspectives of 27 distinguished researchers and practitioners in economics, political science, sociology, psychology, anthropology, and demography, all of whom are grappling in different ways with the challenge of measuring empowerment. The authors draw from their research and experiences at different levels, from households to communities to nations, in various regions of the world.

Measuring Empowerment is an invaluable resource for planners, practitioners, evaluators, and students—indeed for all who are interested in approaches to poverty reduction that address issues of inequitable power relations. ... Read more

Reviews (17)

I'm using this book
As a professional economist who is constantly looking for better ways to communicate the essence of economics to non economists, I couldn't be more enthusiastic about Henderson's The Joy of Freedom. Without mind numbing diagrams and equations, Henderson conveys more economic understanding than any of the standard text books I know--and I know a lot of them, having written a few myself. And it is not just economic concepts and the standard perspective on economic efficiency that he communicates so compellingly. With a personal story beautifully woven into the narrative, Henderson shows how humane and socially concerned economists can be (and generally are). Read this book and find out that economists can be passionate in wanting to make this world a better place, and have real guide posts in going about it, guide posts that elevate the ideal of freedom to the central organizing principle. The next time I teach a principles courses I'm going to do my students a tremendous favor by using David Henderson's The Joy of Freedom: An Economists Odyssey as the main text.

A personal path of discovery
David Henderson is my friend and I helped him with this book, so I suppose I'm biased. But my familiarity can help you decide whether to buy this book or not.

The Joy of Freedom is the work of an exceptional teacher who has a skill for communicating economic concepts. It is the result of his lifelong desire to understand the world, to better himself, and to help others. As the reader, we walk side by side with David as he struggles to understand complex and important issues. He tells us stories from his life, from childhood through his successful career as an economist. The result is an interesting, easy-to-read, understandable, and enjoyable book about some of the more pressing problems of our time. How many other books can make that claim?

If you care about your personal retirement assets, your ability to get good health care, the education of yourself or your children, your rights and security, the inner workings of the government, the laws of economics, discrimination, or the environment, this book has something for you. You don't have to agree with everything Dr. Henderson says. In fact, because he is such a good thinker and communicator, his path of discovery should help you on your own, whatever course it may take.

Read this book!
This is an enjoyable book. It is part autobiography and part political philosophy and, perhaps best of all, it provides well supported and practical solutions to many of our country's biggest problems -- including the environment, public schools, social security and medicare, health care, etc. I rarely read a book where I feel, as I did with this one, that I would love to meet the author and discuss these issues. A very clear and intelligent writer who doesn't pretend to know all the answers. He clearly has a great deal of experience with these issues but has none of the ego or arrogance that we so often see these days. This is an excellent book.

Like Atlas Shrugged
The Joy of Freedom is like Atlas Shrugged in that reading both books ignites a passion for liberty in me. Henderson, like Rand, is a zealous advocate of freedom. The difference between the two books and their authors, however, is that Rand tends to be combative whereas Henderson tends to deliver a pleasant message.

Henderson tells of his intellectual journey as a free-market economist and libertarian. Along the way he applies the principles of freedom and free-market economics to the vital issues of the past, present, and future. "This book", he writes, "is about freedom, about how well freedom works and how government, by crushing freedom, messes up our lives."

Henderson didn't take economics until his final year of college. His evaluation of introductory economics: "The course was a profound disappointment." The text and the lectures did not raise questions that were interesting to him about how markets work. The model of "perfect competition" turned him off, as it does many students. Fortunately, Henderson attended lectures by economist Harold Demsetz who did explain how markets work, which rekindled Henderson's interest in economics.

What sort of questions does Henderson find interesting? In 1969 he asked Hubert Humphrey: "Then how do you reconcile your belief in the Thirteenth Amendment [prohibiting slavery] with your belief in the draft?" Henderson devotes an entire chapter to property rights and emphasizes their efficacy throughout. He poses the following scenario: "You walk by a yard and see someone painting a house. Pointing a gun at him is another man who orders the first man to stop painting." Then he asks: "Who is in the right?" Henderson might alter your view of the world. Consider this way of thinking about taxes: "Imagine that a thief takes your money at gunpoint, uses your money to buy a steak, and then brings the steak to your house and gives it to you." His question is: "Would you say that he didn't steal from you?" He even dares to ask: "Should we have taxes at all?" He raises the question of why the standard of living in the U.S. rises despite the shortcomings of government schools. About schools, he also asks: "If you went to a government school, or if your children go to a government school, is 'exciting' the first adjective, or even the fifth adjective, you would use to describe the experience?" Concerning the environment, he asks: "How far could we go in the direction of using private property to solve environmental problems?"

A reader of this book can expect to encounter many thought-provoking points as well as serious contributions to policies on social security, health care, education, and the environment.

excellent....
This book doesn't receive enough credit...it's incredible.I've read a lot of free market books and if you want to give a book to someone and convince them of the power of free markets I would say this is the one.Mr. Henderson is quite a teacher and it shows.I can almost guarantee that if you are against capitalism and free markets this book would make you doubt the validity of anything otherwise....it's that good.I've read human action,capitalism by reisman...and rothbard and rand books,,,all are great but this one can convince the average joe who really doesn't care about politics and policy making in a disarming fun way.Great writing...and simple.Next I would recommend Rothbard...For A New Liberty... and economics in one lesson,by hazlitt. ... Read more

Book Description

American society today is shaped not nearly as much by vast open spaces as it is by vast, bureaucratic organizations. Over half the working population toils away at enterprises with 500 or more employees--up from zero percent in 1800. Is this institutional immensity the logical outcome of technological forces in an all-efficient market, as some have argued? In this book, the first organizational history of nineteenth-century America, Yale sociologist Charles Perrow says no. He shows that there was nothing inevitable about the surge in corporate size and power by century's end. Critics railed against the nationalizing of the economy, against corporations' monopoly powers, political subversion, environmental destruction, and "wage slavery." How did a nation committed to individual freedom, family firms, public goods, and decentralized power become transformed in one century?

Bountiful resources, a mass market, and the industrial revolution gave entrepreneurs broad scope. In Europe, the state and the church kept private organizations small and required consideration of the public good. In America, the courts and business-steeped legislators removed regulatory constraints over the century, centralizing industry and privatizing the railroads. Despite resistance, the corporate form became the model for the next century. Bureaucratic structure spread to government and the nonprofits. Writing in the tradition of Max Weber, Perrow concludes that the driving force of our history is not technology, politics, or culture, but large, bureaucratic organizations.

Perrow, the author of award-winning books on organizations, employs his witty, trenchant, and graceful style here to maximum effect. Colorful vignettes abound: today's headlines echo past battles for unchecked organizational freedom; socially responsible alternatives that were tried are explored along with the historical contingencies that sent us down one road rather than another. No other book takes the role of organizations in America's development as seriously. The resultant insights presage a new historical genre.

Book Description

Reviews (5)

The Christian community should read this book
"Most people think that Americans are generous because we are rich.The truth is that we are rich...because we are generous..." So writes Claire Gaudiani.Why should Christians read this book?We don't want to save "Capitalism," do we?Perhaps not, but we know we'd miss it, if it was destroyed.Yes, the Christian community ought to find time to read this wonderful book on the history of American Philanthropy and how it has, in the past, played a vital role in helping to maintain the uniqueness of the American experiment.More importantly, Gaudiani explains the perils of our current "giving habits," the cultural reasons for the trend, and solutions to restore the spirit of philanthropy.She writes, "As more of us are better able every year to satisfy our wants and needs, we are not sharing a larger percentage of our income and wealth.We are retaining it in savings or spending it on ourselves and our families.Yet some segments of the population...are experiencing reductions in their well-being, notably children."Christians for the most part should appreciate America's history of philanthropy, for much of it stems from either the Judeo-Christian worldview or simply from a genuine Christian faith that seeks to "give away what God has given to make other people's lives better."The Christian community should also find a welcome friend in her words: "Philanthropy has, in the past, been quicker than government to imagine, test, and implement innovative methods for solving social problems."Of all people and social groups, the Christian community should read this book, if for anything to learn to appreciate the history of Philanthropy.Giving and developing strategies for philanthropic adventures are more than mere altruism.After reading Gaudiani's book, I find that philanthropy of any kind (American or Christian charity) is the human experience where self-interest and compassion are not in conflict.It is in the best interest of Americans (dare I say Christians) to ensure that everyone has access to the American Dream--the dream of upward mobility.In the humble opinion of this reviewer, more Christian communities and churches should design their own philanthropic adventures and meet the social needs that are knocking on their church doors.

Not so Ancient Wisdom
The Philanthropic Revolution started thousands of years ago in the fields of Eygpt when people then new that we need to "care" for each other. Give water to the thirsty passer by.

Claire, with a lot of compassion and breadth, reminds us the the "greater good" needs to be reenvigorated, as did Jane Addams' project to care for the larger community.

Chapter 6 go directly to the undrlyting feeling of the American Spirit.

The past 100 years shows us how to really appreciate and gain from that original intent. This book put's it into perspective and rekindles the spirit of giving.

Happy New Year.

What have you done for mankind lately?
I felt compelled to write this review because of the poor content by some of the other contributors -- one who didnt event read the book and the other ranting a personal attack with no focus on the book itself.
As a teacher, Colleen Kyle should know better than anyone else to actually read books before judging them. She might find herself actually learning something from the research of others. This is not a history book, and it doesnt claim to be one. Its encouraging people to re-think philanthropy and the long term impact generosity can have by showing how we have all benefitted from private giving already.
Mr. Chuck Jones needs to spend more time actually giving something back to society and little less time complaining about those who choose to take the personal and professional risks required to be a leader.
I would encourage people to read Gaudiani's book, to learn about how generosity affects society, and then think about what they can do in their local community to improve the lives of the less fortunate.

Bravo to an exceptional leader, scholar, and human being!
Any leader, executive, or member of our world society can learn and immediately benefit from this book. Dr. Gaudiani is one of the most exceptional and worthy leaders of our time. Her words of wisdom in this book exemplify the essence of her daily leadership practices. Just as the best leaders of our time have displayed, she is optimistic about human behavior and motivation. Critics' opinions expressed only underscore her importance and our need for her as a leader. Ironically, these opinions bring to light the necessity for a civil society and the "Greater Good." Where there is resistance, there is dissatisfaction with the current state in a social system, and Gaudiani is the ideal leader to provide the vision and first steps to bring us to a more democratic, unified, and satisfied state. Read this book with an understanding that you are learning from an exceptional, understanding, compassionate, highly emotionally intelligent, extremely knowledgable, cultured, worldly leader.

Initial reviews do not bode well
While I have not yet read this book and am opposed to purchasing it, as a history teacher I must object to at least one egregious error in the Booklist review: the GI bill as an example of American philanthropy?Excuse me?It was a federal law using federal monies for the greater good of the nation. Everyone paid for it.

As a former fundraiser, I know (as does Ms. Gaudiani) that motivations for philanthropy are rarely entirely altruistic: ego and self interest are huge motivators, as is the current tax system which provokes wealthy individuals to make donations to institutions of their choosing.Politicians going back to Alexander Hamilton have understood this.I applaud the largesse of the American people, but an argument that, among other flaws, compares our rate of giving with Breat Britain's, a country whose inhabitants pay higher taxes for the greater good of all citizens, seems specious.

I advise those considering purchasing this book to get their American history from more reliable sources. ... Read more

Reviews (3)

Intoxicating and simply one of the best
I absolutely agree with the surprise of the previous reviewer.
I bought this from amazon.com in the mid-nineties and there were rave reviews even then. Maybe they were removed, somehow.

George Gilder, for all his wrong predictions and over enthusiastic boom time prophesies, really shines with this one.
He is such a good analyst and narrator of past events and their lessons - maybe he should keep there and not try to predict the future.

On the dullest of days, this book can uplift your spirits and infuse a feeling of positivity and optimism that I can hardly describe. The last chapter (Dynamics of Entrepreneurship) alone is worth ten times the weight of the book in gold. If you have ever attempted to create any type of change in the society around you (including starting a business), this book will bless you with a self-awareness and sense of destiny that you will cherish for a long, long time.

It is 12 years since the book has been out, I think it is time for George Gilder to write another update. This time with the heroic entrepreneurial stories from emerging markets like Taiwan, Korea, China and India.

Possibly Gilder's best
If you're a George Gilder enthusiast and have not yet read the Spirit of Enterprise, then you'll want to do so. If you've never read Gilder and would like an introduction, likewise, this is the book to try. I've read several though not all of Gilder's books, and "Spirit of Enterprise" entralled and educated me, even more than Gilder's other great books. While I enjoyed "Wealth and Poverty" and Gilder's writings on technology, this book, which is about entrepreneuers and their inestimable value in our society, is simultaneously less demanding on the reader, and more engrossing. Read about an Idaho lad who went contrarian, took risk, worked his tail off, revolutionized commercial agriculture, and then, incredibly, seeded one of America's best technology companies. Gilder's enjoyment of such tales is palpable. His explanation of their relevance is erudite. The book is a pleasure, one of the best I've ever read.

Recapturing the Human Element in Economics
First off, I'm shocked that no one has yet reviewed this book here. For those Gilder fans out there you know George's inimitable style of erudite and hip prose. He doesn't disappoint in this volume. So what's it about? It's about the determination of individuals to succeed. It's about people who fail, and fail and fail again but don't give up. Some of the stories he tells are almost beyond belief. The story of the Canadian geologist (I don't remember the name--it's been 21/2 yrs since I read it) frankly inspired me. The chapter on Cuban immigrants to Miami should, if there was any justice, be anthologized widely. The story of the founding of the Honda Corporation stunned me. Gilder's book made me take a hard look at my assumptions about what causes success in the business world. ... Read more

Book Description

This Introduction explores the origins of capitalism and questions whether it did indeed originate in Europe. It examines a distinctive stage in the development of capitalism that began in the 1980s, in order to understand where we are now and how capitalism has evolved since. The book discusses the crisis tendencies of capitalism--including the S.E. Asian banking crisis, the collapse of the Russian economy, and the 1997-1998 global financial crisis--asking whether capitalism is doomed to fail. In the end, the author ruminates on a possible alternative to capitalism, discussing socialism, communal and cooperative experiments, and alternatives proposed by environmentalists. ... Read more

Book Description

Witness seven extraordinary men doing what Americans do best: building new businesses. These entrepreneurs broke old rules and made their own, mastering the future by shaping it. They overcame seemingly impossible obstacles to achieve enormous success and, in the process, played a role in the creation of the modern world.

Masterfully combining his understanding of business and American history, Harvard Business School professor Richard S. Tedlow illuminates the professional and personal lives of these nineteenth- and twentieth-century titans, men with penetrating insight whose need to fulfill their destiny outweighed their fear of failure:

Each of these men traveled his own special road to preeminence, a road determined by the complex interactions of his character, his company, and his times. Tedlow critically explores each visionary with compassion and wit, and in so doing sheds new light on issues of urgent importance in the business world today: How do you get a business going? How do you grow it from a one-man show to an institution? How do you develop a value proposition so compelling that your customers can't do without you? How do you maintain your perspective as you rise above your peers? What is the personal price of exceptional business achievement? When is it time to step aside?

Through its exploration of the triumphs and failures of these seven men, Giants of Enterprise provides us with an unmatched understanding of the challenges of business. These riveting stories contain innumerable lessons that make this book essential reading for anyone interested in entrepreneurial greatness.

Reviews (15)

Business, history, and psychology in one fascinating package
My reading about business is usually limited to the business section of the daily paper, but when I read that Business Week Magazine has named Giants of Enterprise as one of the top ten books about business for this year, I was intrigued enough to have a look at it. Once I began reading, I didn't want to stop! Tedlow's prose is engaging and elegant; he obviously knows his subject thoroughly. As I read about these immensely complicated men, I was amazed by the audacity, creativity, and cunning they showed in their dealings with the world of business. Equally interesting are the glimpses into the personal lives of such figures as Andrew Carnegie, George Eastman, and Henry Ford. This book is about American history as well as the history of business; it has also made me realize that there is such a thing as the psychology of business, although in this field, it is probably as tricky to analyze and try to predict outcomes as it is in the field of economics. I thank Prof. Tedlow for hours of reading pleasure, and for elucidating of many aspects of business that were previously opaque to me. Finally - I thank him for enriching my vocabulary with what he rightly refers to as an "infelicitous" phrase: Big, Hairy, Audacious Goal!
Outstanding.

Giants of Enterprise
This is the best book on business innovation that I've read in 25 years. Dr. Tedlow brings to life innovative and engaging thinkers like Andrew Carnegie, Thomas Watson, Sam Walton, and Robert Noyce of Intel. Never dry, always interesting, and beautifully written. I give this book a rave review.

You won't stop reading
You will find in easy words excellent information on these 7 titans as you won't be able to find it anywhere else.

Giants of Enterprise
Witness seven extraordinary men doing what Americans do best: building new businesses. These entrepreneurs broke old rules and made their own, mastering the future by shaping it. They overcame seemingly impossible obstacles to achieve enormous success and, in the process, played a role in the creation of the modern world." "Combining his understanding of business and American history, Harvard Business School professor Richard S. Tedlow illuminates the professional and personal lives of these nineteenth- and twentieth-century titans, men with penetrating insight whose need to fulfill their destiny outweighed their fear of failure

"Giants" Indeed But Also Mortal
Tedlow provides a brilliant analysis of each of his subjects in combination with a wealth of biographical information which creates an appropriate context for his discussion of Carnegie, Eastman, Ford, Watson (Sr.), Revson, Walton, and Noyce. He organizes his material within three Parts: The Rise to Global Economic Power, The Heart of the American Century, and Our Own Times. So what we have here, in a single volume, are eight mini-biographies, critical analysis of the "giants," and an equally valuable analysis of the evolution of American business history during the last 150 years. Although not always in agreement with Tedlow, I especially appreciate sharing his own opinions. He cites a wealth of primary sources and on occasion expresses his own disagreements with others such as Joseph Frazier Wall, author of arguably the definitive biography of Andrew Carnegie. Tedlow has consummate writing skills. His narrative has Snap! Crackle! and Pop! Throughout the book, he offers hundreds of revealing anecdotes, direct quotations, relevant examples to illustrate and support key points, and -- much appreciated -- a playful sense of humor. Tedlow really is an entertaining raconteur as well as a distinguished business scholar.

This is one of the most entertaining as well as most informative business books I have read in recent years. Those who share my high regard for it are urged to check out Crainer's The Management Century, Thought Leaders edited by Kurtzman, Wren and Greenwood's Management Innovators, Leibovich's The New Imperialists, and Landrum's Profiles of Genius. ... Read more

Book Description

Because of the remarkable number of currency and emerging market meltdowns during the 1990s— from the Mexican peso crisis to the collapse of the Asian markets to the Russian devaluation of the ruble— the free market system faces the prospect of tighter global regulation. David DeRosa makes a compelling case that less, not more regulation is vitally needed; that public policies often have been dead wrong in concept and application; that so-called controls generate indirect and unintended harmful consequences; and that aggressive intervention is no panacea.

When confronted with a financial crisis, many leaders prefer to indict the international financial system rather than admit to policy blunders that may be of their own making. This book analyses the economic conditions that produced a number of recent financial crises. It also investigates the responses made to each crisis, to uncover whether government policies directed at these episodes of turmoil made matters better or worse.

This is a rousing case for putting far greater trust in the markets. It exposes the risks, market distortions, and huge hidden costs that can result from government bailouts and proposed reforms. David DeRosa makes an important contribution to a debate whose outcome will determine the stability and prosperity achievable in an interconnected age.

Key features:
• Questions whether financial crises are a natural product of market-driven economies or a symptom of bad government policies
• Argues that less regulation will keep international financial markets sound
• Exposes how government interference has had a negative impact on the workings of the market system
• Reveals how public policies have often been built on incorrect assumptions ... Read more

Reviews (7)

Free Capital Markets
Dr DeRosa's book was entertaining, easy to read and packed with anecdotes and information. As an investment pro, his book gave me a greater insight into the often arcane political manipulations that eventually sow the seeds for economic instability. He pulls no punches when he states that central banks and governments themselves set themselves up to be the eventual "victims" of their own bad policies and instead of doing something different, they blame the speculator.
I like his information "boxes" that help the reader with the technical details of the book. Although I have long been a fan of single currency idea's, DeRosa's book has given me reason to pause. Well referenced and well researched.
The reviews by Dr Hanke and Dr Friedman can't hurt either.

Accolades from Milton Friedman
"In Defense of Free Capital Markets is an impressive survey and analysis of the crises of the 1990s. Mr. DeRosa makes a strong case that official intervention has made matters worse, not better, and that in such instances it is far better to leave it to the invisible hand of the market than to the clumsy, visible hand of regulators."

--Milton Friedman Senior Research Fellow, Hoover Institution Nobel Economics Prize, 1976

Common Sense for Currency Buffs
Professor DeRosa offers up a generous helping of reality in evaluating the currency crises of the past dozen or so years. From the first world foibles of the Bank of Japan to the third world of currency pegs, the currency calamities of the late twentieth century are thoughtfully presented in a lean read.

While perhaps giving short shrift to the political constraints facing policy makers in times of crisis, Mr. DeRosa nevertheless does well describing the environments and pre-conditions which ultimately fostered our most recent international financial catastrophes.

In this, the age of fiat money, unsustainable currency policies are easy prey for the worlds biggest market. Anyone interested in a brief but informative history of recent currency debacles will truly enjoy this book.

Highly Recommended!
Yale University adjunct professor David F. DeRosa argues that markets are smarter than government ministries. Therefore, he contends, economic development should be left to the free market, since tighter regulations will only distort development. His detailed analysis of economic conditions focuses on factors leading to several crises, including the decline of the Mexican and Japanese economies in the 1990s and the Southeast Asian collapse of 1997. The subject is complicated and interesting, and the writing is often technical and sometimes complex. We at getAbstract call this book to the attention of scholars, executives and managers who have a serious interest in fiscal policy. And we do mean serious.

Free Capital Markets -- The Road to Prosperity
This work is illuminating and speaks to issues beyond the world of finance, like politics and ideaology. DeRosa lays out clear and consice arguments in defense of free floating exchange rates and against fixed exchange-rate regimes.

The author debunks the propaganda supporting fixed exchange-rate regimes with insightful analyses based on the facts of the various currency crises that occured during the 1990s. Particularly interesting is the fact that leaders around the world are either ignorant of or chose to ignore the last ten (let alone the last 100) years worth of economic history and persist in attempting to control and plan economies. This book should be required reading not only for finance professionals and central bankers, but anyone interested in how the decisions of people in appointed positions (like the head of a central bank or finance ministry)have far-reaching and often dire consequences. ... Read more

Download Description

In this collection of all new essays, Noam Chomsky examines the dramatic shift away from a pluralist, participatory ideal of politics and towards an authoritarian profit-obsessed model. ... Read more

Reviews (26)

The Corporate Way is NOT the American Way
There is more concentrated political and economic truth in this one slim volume then in any other book that I've ever read. Nowhere is the war against the working class exposed more clearly and accurately. "Free Trade" is the nemesis of true democracy and of the common man. Such a policy only really favors the extremely rich and less than 1000 large global corporations. You won't hear about any of this in the corporate press however, for in the neoliberal democracy all debate is side tracked on trivial issues by two political parties who both basically represent the same corporate masters (kind of like a giant game of good cop/bad cop...)
Ever wonder why you and the people around you feel so powerless and alienated in a vast landscape of shopping malls? You didn't think that "just happened" did you? The decades old goal of the powers-that-be has been to atomise American communities into loose conglomerations of "consumers" incapable of organising, or even thinking of organizing.
If you want the hard FACTS about corporate rule, then read this book. You see, a corporation isn't merely an "immortal person" under law, they are immortal sociopaths- sociopaths backed and enhanced by state power over and above the interests and votes of the common man.

As always, Chomsky is way ahead of the curve.
There is more concentrated political and economic truth in this one slim volume then in any other book that I've ever read. Nowhere is the war against the working class exposed more clearly and accurately. "Free Trade" is the nemesis of true democracy and of the common man. Such a policy only really favors the extremely rich and less than 1000 large global corporations. You won't hear about any of this in the corporate press however, for in the neoliberal democracy all debate is side tracked on trivial issues by two political parties who both basically represent the same corporate masters (kind of like a giant game of good cop/bad cop...)
Ever wonder why you and the people around you feel so powerless and alienated in a vast landscape of shopping malls? You didn't think that "just happened" did you? The decades old goal of the powers-that-be has been to atomise American communities into loose conglomerations of "consumers" incapable of organising, or even thinking of organizing.
If you want the hard FACTS about corporate rule, then read this book. You see, a corporation isn't merely an "immortal person" under law, they are immortal sociopaths- sociopaths backed and enhanced by state power over and above the interests and votes of the common man.
Oh yes, if you want to know how a healthy economy SHOULD function, read _I'll Be Short, Essentials for a Decent Working Society_ by Robert Reich.

Loved the e-book version
...Read the book and you might be pleasantly surprise by what you get... unless you're an investment banker!

A poor treatment of complex global issues
In this polemic Chomsky attacks 'neo-liberalism' in international political economy. To that effect, he damns every supranational economic organisation and agreement that he can think of (the IMF, the World Bank, the World Trade Organisation, NAFTA, MAI etc.), charging them with being the agents or instruments of US multinational corporations intent on pillaging the Third World, despoiling the environment, and various other sins. The book is not so much an argument as an expostulation; and it is undermined at almost every turn by extravagant rhetoric and weak reasoning.

International political economy is - like all economics - a discipline about trade-offs and the assessment of costs and benefits. There are various criticisms that can plausibly be levelled at all of the bodies or treaties that Chomsky fulminates against, but it is important in formulating them to have a mind to what these institutions or agreements are designed for. To put mildly, the targets Chomsky denounces are not the same thing and do not pursue the same ends. It serves no purpose and does violence to critical inquiry merely to denounce them all as agents of US big business and of free-market fanaticism. The IMF, for example - a prime villain in Chomsky's account - has received much criticism from the school of free market economists that Chomsky believes it represents. These economists (see, for example, Money and the Nation State, edited by Kevin Dowd & Richard Timberlake, and published by the libertarian Independent Institute in 1998) charge the IMF with creating 'moral hazard' in international lending, and wish to see the institution abolished. A different view, which I hold, is that the IMF performs a valuable service in allowing troubled economies a breathing space to sort out their difficulties, as was clearly the case with the 'tequila crisis' in Mexico in 1994-5, and in fact ought to be more active in its prescriptions than it has been - consider the case of Argentina's ruinous currency peg, which the IMF was highly sceptical of and ought to have stood out against. There is room for discussion and disagreement about how far the IMF should loosen conditionality for its loans (and I am something of a dove in this respect), but these are inevitable debates about how to make effective a necessary and valuable part of the global economy.

Similarly, the World Trade Organisation has nothing whatever to do with free-market fundamentalism or US big business: it is neither more nor less than a commercial court that tries to eliminate discrimination on grounds of nationality. It is a thoroughly progressive institution whose effectiveness is greatly in the interests of the developing world, as evidenced by its first major ruling when it upheld Venezuela's complaint against a US levy on foreign petroleum producers. The World Bank, which under its current management - much to my regret - has veered very far from the cause of globalisation, went to immense lengths to support Third World socialist projects (such as the 'ujaama' projects of President Nyerere's Tanzania), with extremely bad results for the impoverished peoples of the countries concerned.

To subsume these differing institutions, aims and approaches into a catch-all damnation of the machinations of big business is neither a profound nor a reliable guide to the modern global economy. Quite how Chomsky reaches his conclusions is of some interest, however, for it indicates quite a lot about the economic reasoning of the anti-globalisation movement. In short, Chomsky just hasn't acquainted himself with the normative arguments and positive findings of those he attacks; this is just not good enough in a book that aims to scrutinise the global economic order, for economics is a rigorously technical and empirical discipline, and not a matter of opinion. I give just two instances if the book's deficiencies in this respect, but they could be multiplied at great length.

Chomsky attacks the advocates of NAFTA, the North America Free Trade Agreement, for supposedly claiming the it would create jobs. In this, Chomsky has just not understood the point - a very fundamental one - about trade. The basic Ricardian argument for trade does not depend on its effect on aggregate employment (which is virtually unaffected by trade: what matters in the short run is the level of aggregate demand, and in the long run is the so-called NAIRU, or Non-Accelerating-Inflation Rate of Unemployment); trade raises not employment but living standards. The chronic poverty that has afflicted Third World nations like Tanzania under a policy of 'self-reliance' demonstrates the point.

My second instance of the weakness of this book's treatment of economics is Chomsky's throwaway reference to William Greider's anti-globalisation polemic One World, Ready or Not. The Greider thesis that Chomsky has latched on to is that there is excess supply in the global economy owing to workers' not receiving enough to buy the goods capitalism produces. This claim is absolutely untenable in theory and in practice: wages are not set abstractly, but are pinned to the marginal product of labour. To put it simply, an additional dollar of output must represent an additional dollar of income to someone. The only way the 'excess supply' nostrum could hold is if you claim that the additional dollar of income goes to someone with a higher marginal propensity to save - and that conclusion requires a study of the facts. This book doesn't trouble with the facts, which are that savings rates in most industrial economies have been falling for years, while in the developing countries they have been growing less quickly than investment demand.

Enough already. Chomsky is not an international economist, and his book is depressingly short on empirical research and economic logic. Indeed the book is almost a logical fallacy itself, for it exemplifies the anthropomorphic fallacy that one may attribute personality - in this case a wicked and grasping avarice - to an abstraction, namely the 'capitalist system'. At any rate, it is a poor book that does nothing to enhance its author's reputation in his chosen personal interest - far from his specialist field - of politics and economics.

A Categorical Wrecking of 'Free' Market Propaganda
Here comes another fascinating compilation of clarifications courtesy of Noam Chomsky. Focusing on the topic of Neoliberalism and the modern yarns fabricated to promote it, Chomsky tirelessly demonstrates how countries demanding trade 'liberalization' today, underwent (and still do) 150 years of protectionism. How same countries deploy artificial barriers and legitimize their tariffs via a compliant business and media elite.
The book discusses the dejected citizenry, the dangers this poses to real democracy and how governments methodically accentuate this trend.

Chomsky exhorts the reader to participate in democracy as the only way to rescue it and details how America has been derailed into a kind of oligopoly of corporations due to the population's ignorance and non-participation.

As is often the case with Chomsky, moments of unintended hilarity are not in short supply either. One example sites how what is accepted and given wisdom in America regarding Cuba, would have "forty million Mexicans will die laughing" according to one Mexican diplomat.

The book does suggest ways for people to improve themselves, yet falls short on detail and lucidity.

As a post script and for the sake of readers trapped in the pits (geographic and mental) let it be known that Noam Chomsky refuses royalty for his books. Having placed his work in trust, he hopes that, in this way, his work will be made available more cheaply to readers. ... Read more

Book Description

In the great tradition of moral argument about the nature of the economic market, Rebecca Blank and William McGurn join to debate the fundamental questions—equality and efficiency, productivity and social justice, individual achievement and personal rights in the workplace, the costs and benefits of corporate and entrepreneurial capitalism. And they do so grounded in both economic sophistication and religious commitment.

Rebecca Blank is an economist by training and describes herself as "culturally Protestant in the habits of mind and heart." She has also chaired the committee that wrote the statement on Christian faith and economic life adopted by the United Church of Christ. Addressing market failure, for her, requires that sometimes "freedom to choose" give way to other human values.

William McGurn, a journalist and a Roman Catholic, uses his expertise in economics to reflect on the teachings of the church concerning the morality of the market. For McGurn, humans reach their fullest potential when they are free from the constraints of others. He writes that "our quarrel is not so much with Adam Smith or Milton Friedman but with the Providence that so clearly designed man to be his most prosperous at his most free."

This book grapples with the new imperatives of a global economy while working in the classic tradition of political economy which always treated seriously the questions of morality, justice, productivity, and freedom. ... Read more

Reviews (1)

With an ever-growing sense of direct contemporary relevance
The collaboration of Rebecca M. Blank (Dean of the Gerald R.FordSchool of Public Policy and Professor of Economics, University of Michigan) and William McGurn (Chief Editorial Writer, Wall Street Journal), Is The Market Moral?: A Dialogue On Religion, Economics & Justice is a literate discussion of serious issues of economic equality, efficiency, productivity, and social justice. The contrasting views of two strong-willed, intelligent, faithful, and astutely reasoned individuals - one a "cultural Protestant", the other a Roman Catholic, both concerned with issues of morality and human feedom to choose as surely as technical problems of supply and demand. Add in drastic changes wrought by increased globalization in today's world, and the evaluations followed by direct and personally addressed rebuttals in Is The Market Moral? take on an ever-growing sense of direct contemporary relevance, even urgency. ... Read more