Book Description

An "illuminating exploration of the fast-changing landscape of capitalism" (Nature). This "glorious and frightening read" (MT Magazine) examines capitalism's place as the universal social and economic order of our time. Now truly global, twenty-first century capitalism—aided by extraordinary advances in technology and communication and by unfettered global financial markets—has a speed, inevitability, and force that it has not had before. In Global Capitalism, leading political and economic analysts have gathered to dissect this dangerous new world. Hailed as a "must read" by Internet Business London, Global Capitalism analyzes the current role of the business firm, considers whether the new capitalism is compatible with social cohesion and social justice, and addresses topics ranging from the degradation of the environment to the concentrated control of the media by transnational corporations. The contributors discuss capitalism as a form of culture and way of life, and ask whether it has any viable political rivals.

Contributors:
• Ulrich Beck
• Manuel Castells
• Jeff Faux
• Arlie Russell Hochschild
• Robert Kuttner
• Larry Mishel
• Richard Sennett
• Vandana Shiva
• George Soros
• Polly Toynbee
• Paul A. Volcker ... Read more

Reviews (1)

civigod
still in a runaway world. looking for "the what-next-way" ?capital is still the driver of jagarnata/juggernaut ... Read more

Book Description

Book Description

The latest in a series exploring twenty-first-century governance, this new volume examines the use of market means to pursue public goals. "Market-based governance" includes both the delegation of traditionally governmental functions to private players, and the importation into government of market-style management approaches and mechanisms of accountability. The contributors (all from Harvard University) assess market-based governance from four perspectives:

The "demand side" deals with new, revised, or newly important forms of interaction between government and the market where the public sector is the "customer." Contributors include Steve Kelman, Karen Eggleston, Richard Zeckhauser, and Peter Frumkin.

The "supply side" section deals with unsettled questions about government's role as a provider (rather than a purchaser) within the market system. Contributors include Georges de Menil, Frederick Schauer, and Virginia Wise.

A third section explores experiments with market-based arrangements for orchestrating accountability outside government by altering the incentives that operate inside market institutions. Contributors include Robert Stavins, Archon Fung, Cary Coglianese, and David Lazer.

The final section examines both the upside and the downside of the market-based approach to improving governance. Contributors include Elaine Kamarck, John D. Donahue, Mark Moore, and Robert Behn.

An introduction by John D. Donahue frames market-based governance as an effort to engineer into public work some of the "intensive" accountability that characterizes markets without surrendering the "extensive" accountability of conventional government. A preface by Joseph S. Nye Jr. sets the book in the context of a larger inquiry into the future of governance. ... Read more

Book Description

Based on the key idea that social protection in a modern economy, both inside and outside the state, can be understood as protection of specific investments in human capital, Torben Iversen offers a systematic explanation of popular preferences for redistributive spending, the economic role of political parties and electoral systems, and labor market stratification (including gender inequality). Contrary to the popular idea that competition in the global economy undermines international differences in the level of social protection, Iversen argues that these differences are actually made possible by a high international division of labor. ... Read more

Book Description

How to BREAK FREE From the Control of Others

Book Description

Amazon.com

John McMillan's Reinventing the Bazaar is an extremely accessible description of markets large and small, as well as an explanation of their underlying mechanisms. An "absolutely free market," he says, is a "free-for-all brawl," while a "real market" is an "ordered brawl." Sprinkling his analysis with hundreds of anecdotes and examples--prison camps, eBay, the American experiment with alcohol prohibition, the Tokyo fish market, and traditional Ghanaian bazaars--and pertinent quotes from the likes of Chekhov, Twain, and Steinbeck, McMillan animates his subject. Why do banks build showcase headquarters? Which "frictions" brake, and which spur, various markets? Is the "invisible hand" attached to a clothed arm? Why are both pro- and antimarket absolutists, in McMillan's view, the economics equivalent of "flat-earthers"? Is there such an animal as a "perfect" market? Reinventing the Bazaar answers these questions, and many more, in an eminently wise, entertaining, and instructive way. --H. O'Billovich ... Read more

Reviews (9)

Essential Information and Wisdom
Wherever buyers and sellers get together, there is a market. In the absence of currency, trades have been consummated by assigning relative value to items (e.g. livestock, weapons, clothing) or services (e.g. plowing, medical care, harvesting). Throughout human history, there have been markets in one form or another at which people exchanged or purchased goods of various kinds, usually in a centrally located area such as a crossroads, harborside, village center, or town square. Buyers and sellers (or traders) gravitated to markets where and when there would be the most people. At least to some extent, all that remains true today even with the emergence of cybermarkets. Effective marketing in the 21st century creates or increases demand first by attracting interest. Hence the importance of visibility. It must also provide a convincing argument as to why a given product or service is preferable to other options, including not purchasing anything. Supply and demand often come into play. Pricing is frequently a decisive issue. For centuries, be it in an ancient bazaar or modern market, buying/selling/trading is among the most dynamic of human activities.

In this lively as well as informative book, McMillan offers "a natural history of markets" which helps us to gain a better understanding of how markets work as well as of what they can and can't do. "Markets do what they are supposed to do, however, only if they are we structured. Any successful economy has an array of devices and procedures to enable markets to work smoothly. A workable platform has five elements: information flows smoothly; property rights are protected; people can be trusted to live up to their promises; side effects are curtailed; and competition is fostered." I agree with McMillan that, as a result of innovations made by participants, "spontaneous evolution is the main driver of [private sector] markets" if and when provided with assistance from the public sector (i.e. government).

Because throughout history the strength of markets has been their adaptability and their "restless reinvention," McMillan argues, shaping new markets is both a task for governments and an opportunity for entrepreneurs. Appropriate involvement by the former ensures, for example, the protection of intellectual property; appropriate involvement by the latter ensures that the process of adaptability and reinvention is sustained. There are so many excellent books now in print which discuss the most effective marketing strategies and tactics.

Secondarily, McMillan examines several of them but his primary purpose, as I understand it, is to explain how and why the market economy ("...the worst form of economy, except for all the others which have been tried from time to time") "solves some all but intractable problems...[because] it admits variety and permits criticism" This book will be of greatest interest and value to decision-makers with responsibility for marketing within organizations which either have no "workable platform" or one which may soon collapse from the weight of external competition or internal inadequacy.

I also highly recommend this book to those who have a keen interest in cultural anthropology. As suggested earlier, the bazaar or market has always been and always will be among the most dynamic of human activities. Why? Because it must constantly be reinvented to accommodate ever-changing human needs and interests. McMillan's comprehensive analysis of that volatile process is a unique and brilliant achievement.

Reinventing the Bazaar: Two Thumbs Up!
Reinventing the Bazaar used real-life examples to make markets understandable to any reader. From pharmaceutical companies to the Tokyo fish market, McMillan brings markets alive right in front of the readers' eyes. He attempts to demystify the mystery behind markets, and in my opinion, he succeeds. Each chapter presents a new market setting which McMillan uses to illustrate his various points. While the book has an economic undertone, the level of writing is not above the understanding of even a high school student. All terminology is explained not only with words, but with examples, as well. The book was enjoyable, especially if you have little familiarity with various market settings. However, I would encourage anyone to read this book because even the experts on markets will have their knowledge enriched by this book.

A must-read!
This book provides the reader with essential background information on the history of markets, how they work, and some of the controversies behind them. Crucial for a well-rounded understanding of our economic system.

Big picture of auction and marketplace
As an auction site employee, this book gives me a bigger picture of my daily work. It helps me understand the overall auction theory/marketplace better. The five key factors to make marketplace work (information, property right, trust, reduce externalities,competition), are also the key factors to make every auction site, B2B marketplace succeed.

I sincerely recommend this book to people who are interested or work in online auction/marketplace business.

A balanced look at markets
This timely book describes the market systems of today's world. He is an advocate of what he calls the "market design approach" of economic systems. He has five things that a market needs to be effective: social trust, property rights protections, negative externality prevention, free flow of information, and competition. He makes a strong case for a 'middle way' in economic development when it comes to government involvement. He argues that the controlled and command economies of the far left, and the laissez-faire libertarian approach of the far right are both equally garbage. He tells some interesting stories of the worldwide pharmaceutical industry and critiques it's free market effects on society and world health. His discussion of information and technology are somewhat simplistic in my opinion, and his conclusions that for economic development these two forces need to be free to innovate and profit seemed the same pedantic old story that is peddled by Gates and co. He makes a strong case for honesty in business and describes some very interesting approaches for regulating and policing business behavior. His discussion of patents and intellectual property rights seemed balanced in its look at how they can help and hinder business and society. He also describes (convincingly in my opinion) how individual and company behavior creates all kinds of negative externalities that cannot be left to the market to take care of. The last couple of chapters described the very different methods of economic transitions used by New Zealand, Russia, and China, and he has some interesting conclusions to offer. He also addresses a chapter to the anti-globalization movements, and to the Marxists and Libertarians, where he takes what they argue, and looks at statistical evidence, and pretty much negates their arguments without really addressing the sociological and political grievances and seems to take a more simplistic model that economic growth is the best way to improve the lot of everyone everywhere, which I found annoying. But overall, he makes a strong argument for markets and their abilities to supply the most efficient system of providing goods and services to a society, but also recognizes significant weaknesses inherent in it that must be balanced by government activity. ... Read more

Book Description

Meet Disney's most recently inducted eighth dwarf: Greedy. In corporate America, innovation is being crippled by a blatant focus on short-term profits-the incessant need to "maximize share-holder equity." Disney, a company known worldwide for its innovation and creativity, has become an example of this insular thinking.

In CULT OF THE MOUSE, ex-Disneyland director of creative services and successful entrepreneur Henry M. Caroselli uses this once-ingenious company as a framework for a timely, compelling discussion of why America's greatness is in jeopardy and what needs to be fixed to restore our ability to do what we do best, generate paradigM-changing ideas. Drawing upon fascinating historical references not only of Walt Disney, but also of other great innovators, Caroselli provides sage advice for growing a company by giving creativity a boost.

Part expose, part how-to, this intriguing, practical business book shows how bad things can happen to even the greatest of companies-giving businesses large and small a much-needed, swift kick in the pants. ... Read more

Book Description

Several years ago, Joel Kurtzman was covering a meeting between a group of Russian economists and politicians and some of America’s best thinkers from business and academia. The Russians were trying to get a handle on exactly who was in charge of the markets and how long the founder of a failed start-up would be sentenced to jail.

It’s easy to see why Joel’s Russian friends were befuddled. But how many of us really understand how the markets work, despite the fact that we live and work in a society that practically worships “the market” as a religion? And when people today are investing more money in mutual funds than in banks, this can be a problem. The markets are big, complex, and completely unforgiving. If you make a major mistake, you risk losing a major amount of money. That’s why it’s vital to peel back the layers of mystery shrouding the markets.

In How the Markets Really Work, Joel Kurtzman provides a lucid explanation of one of the fundamental forces shaping our lives. In clear, accessible language, Kurtzman explains:

* How markets, which are so vital to the world’s economies, are able to function without any central control
* How they create wealth and spread the risk of the world’s most uncertain, but potentially lucrative, bets
* How markets package and resell debt, connect financial institutions, and set prices
* Why volatility has increased and what this means for the boom and bust of investing

Kurtzman illuminates the musty corners of the markets, showing how the system is both a single network linked together globally and a highly coordinated dance of free-wheeling, unchoreographed dancers that constitutes a massive social mechanism for laying off some of the world’s riskier bets. He explains the kinds of products that traders trade within the network (stocks, bonds, options, etc); how money circulates within the network; and how banks fit into the global network.

This is a book that will help you think strategically about investing. If you understand the markets and the instruments and vehicles that are traded on those markets before thinking about individual stocks and mutual funds, you’ll be a smarter, savvier investor.

Crown Business BriefingsThe Crown Business Briefings series offers an appealing solution to the dilemma of today’s business audience: how to keep up with the rapid pace of change in knowledge while leading time-crunched lives. The series features short books on important topics of immediate and measurable benefit to today’s broad audience of business readers. ... Read more

Reviews (1)

Succinct and readable
One of the things that Joel Kurtzman does very well in this pithy little book is demonstrate why the capitalist market system is superior to the old Soviet system of centralized control, why the decisions made by a decentralized economy work so much better than any top down system. However Kurtzman's enthusiasm for the market is eventually revealed as similar to E. M. Forster's for democracy. One recalls that Forster allowed himself just "Two cheers for democracy...there is no occasion to give it three."

Kurtzman writes on page 148 that "Markets may move to the beat of their dumbest members." He adds, "In my view...markets are not rational." To back up his claims he reports that at the height of the Internet bubble in 1999, Yahoo! with sales of $456 million (that's million with an "m") had a market capitalization of $93-billion which he compares to GM, which at the same time with revenues of $177-billion (billion with a "b"), had a market cap about half that of Yahoo! (p. 147) This observation caused Kurtzman to ask, "Yo, Mr. Market, is anybody home?"

Well, it depends on when you knock on the door. In October of 2002 Yahoo's market capitalization was down around $5-billion or so. The real truth is Mr. Market may be irrational for some period of time--indeed for some EXTENDED period of time, especially when you're holding the bag--but eventually a correction occurs, and for a brief shining moment (not the same moment) every stock is priced at what it's worth. (Of course it could also be pointed out that a stopped clock is exactly right twice a day.)

I very much liked Kurtzman's conversation tone and his obvious acumen and the way he explains the underpinnings of the capital markets with an emphasis on understanding rather than mechanical details. (Although an explanation on how the weekend or overnight buy and sell orders received from Internet traders are reconciled at the New York Stock Exchange and at NASDAQ into an opening price would have been nice.) His championing of Michael Milken as one of the great financial geniuses of our times was tolerable, but did Milken really (as Kurtzman insists on page 144) take "an often bloating and ailing American economy" and make it "lean, mean and resilient"? And, although one does not doubt the genius of Warren Buffet, might Kurtzman have pointed out during his several fawning references to the man, that when you have as much economic clout as he has you might well be able to influence the markets to your advantage and to get information that others cannot, and in a nutshell prove beyond a shadow of doubt that money makes money and big money makes even bigger money? He might even have (to be topical and timely) pointed out that Shari'a law, which does not allow interest to be charged on credit, is not in keeping with the realities of the effect time has on capital.

But Kurtzman is an ambassadorially polite man who saved his barbs for the failed communist system and the recent irrational exuberance in dot com land.

Perhaps the highlight of the book, and maybe the most important part, is Kurtzman's explanation of what money is (not obvious) and how it is created and how it can be made to dissipate. For anyone wanting a kind of Reality Economics 101, Kurtzman's book is an eye-opener. He has a gift for explaining things in a succinct and clear manner that other writers on economics might well emulate. ... Read more

Book Description

Invented in post-industrial 19th century Europe, the idea of capitalism originally sought to describe and explain the distinctive characteristics of an emerging modern world. Since then, capitalism has served to identify an economic system, a particular social structure, and a set of cultural values and mental attitudes. The subject of continuous debate among scholars for more than a century, capitalism has been accorded so many definitions, it is now virtually meaningless. Depending upon the interpreter, capitalism is synonymous with the market economy, the division of labor, credit creation, economic concentration, social polarization, class formation, the decline of kinship and community, patriarchy, property rights, contracts, acquisitiveness, the work ethic, conspicuous consumption, individualism and entrepreneurship. Noted economic historian Richard Grassby investigates the origins and evolution of the idea of capitalism to illustrate for readers the true nature, merits, and the future of capitalism. Grassby examines its numerous and often conflicting definitions, and he tests alternative models of capitalism against the historical record to establish when, where, how, and why modern economies and societies emerged. Although Grassby argues that capitalism is a concept with diminished explanatory power, he shows the influence of this powerful idea on the formation of the world we live in. This is required reading for classes on World history, modern European history, and economic history. ... Read more

Reviews (1)

The Best Introduction I've Seen
Grassby's little book is an excellent introduction to the concept of capitalism. It admonishes us at the beginning to discard our preconceived notions: the idea is neither theoretical nor is it empirical. It is merely socialism's Demiurge. (Indeed, the term comes into the English language in translation from a French socialist, according to the OED.) Just as there are many inconsistent versions of socialism, its straw man, pretending to be a description of the status quo, varies at least as much. The author then goes on to describe briefly (that is, the rest of the book, which is only seventy-three pages) how the concept is used in the study of history and how any given effect that has been blamed on or (less often) credited to free markets pre-dates the industrial revolution, and can only rarely can be attributed to mutually beneficial exchange. The analysis in, and above all the skepticism of, this account make this a very fine place to begin any inquiry into the nature of the thing called capitalism.

The problems with the book are that it is too short, it lacks footnotes, and its bibliographical essay includes only relatively new sources, requiring the reader to take notes or shuffle through the book to find the authors and titles actually discussed in text. ... Read more

Reviews (3)

Worth a close read
A trenchant discussion of the usefulness of government (or lack thereof) in creating sustainable economic growth. Solid, well-written, practical and entertaining. The portions on the privatization and the moral hazards posed by IFA lending were particularly good. If you're a student of economic development, a private sector development professional, or just looking for a primer to help you understand why so much goes so badly wrong in the world's poorest countries, this is the book for you.

A timely, expert, seminal, & intrinscially interesting work
Accessibly written by Robert E. Anderson (an economic development expert who has 10 years of experience with the World Bank working on development issues in more than 15 countries), Just Get Out Of The Way: How Government Can Help Business In Poor Countries is a "tell it like it is" account that warns against helping developing countries by pursuing policies that are used in rich countries. Instead, Just Get Out Of The Way stresses that policymakers should pay attention to the specific institutional weaknesses of developing countries, with an especial watch and guard against corruption and cronyism, as well as much simpler market-oriented policies. A timely, expert, seminal, and intrinscially interesting work, Just Get Out Of The Way is a very highly recommended contribution to International Economics Studies collections and a "must read" book for private, corporate, and governmental policy makers in the field of international economic development.

Great Book
I think that this is a great book because I wrote it. If you want more information about the book, see my website at privatesectordev.com. ... Read more

Book Description

In The Capitalist Philosophers, critically acclaimed writer Andrea Gabor tells the epic story of American business through the lives, times, and ideas of the great thinkers who defined the art and science of business. It is a book full of colorful stories and brilliant insights into why the business world is the way it is today.

People in business are constantly besieged by supposedly revolutionary ideas. Any company that went on a crash diet in response to the trendy precepts of Reengineering the Corporation felt the enormous impact still exercised by one of the first capitalist philosophers, Frederick Taylor. By going back to the source, Gabor helps businesspeople make smart, informed decisions about the future.
Featured in The Capitalist Philosophers are:Frederick Taylor: "Production went to his head and filled his sleepless nerves like liquor or women on a Saturday night."
Mary Parker Follett, who understood that "only so far as business leaders . . . can identify themselves with the underlying social impulses of their time can they hope to plan and build great organizations."
Chester Barnard, the philosopher king, who believed that management's job is to get things done by persuasion.
Fritz Roethlisberger and Elton Mayo, the creative misfits who "invented" human relations and put Harvard Business School on the map.
Robert McNamara, the "Whiz Kid," whose pioneering work in control and quantitative methods at Ford and the Department of Defense have had such a great influence on American management.
Abraham Maslow and Douglas McGregor, the pathfinders of humanistic management.
W. Edwards Deming, "the man who discovered quality" and the prophet of the learning organization.
Herbert Simon, Nobel laureate, pioneer in artificial intelligence and cognitive psychology, renegade economist and management pathbreaker, whose ideas on decision making have been vastly influential.
Alfred Chandler, who laid the basis for the way we think about corporate strategy, and Alfred Sloan, whose My Years at General Motors is the most important business book ever published.
Peter Drucker, who "gives you thoughts that are large."
As Andrea Gabor notes in her Introduction, "Contrary to common wisdom, it is possible for individuals to have a major impact on history. Just as FDR and Margaret Sanger changed the way we think about, respectively, politics and sexuality, so the capitalist philosophers have changed the way we look at the dominant institution in our society--the corporation."


From the Hardcover edition. ... Read more

Reviews (3)

Tracing the development of modern management thought
In this book, business journalist Andrea Gabor traces the contributions of several key management thinkers and practitioners, and how their efforts shaped both the modern American corporation and popular notions of it. By chronicling well known (such as F.W. Taylor and Robert McNamara) and less known (such as Mary Parker Follett and Fritz Roethlisberger) figures, Gabor succeeds in illustrating how their ideas built on one another and in many cases anticipated by decades the challenges managers would -- and continue -- to face.

The result of Gabor's efforts is not solely a survey of prominent people, but rather a nuanced discussion of the development of what proved to be some of the 20th century's most influential thoughts on management, irrespective of the originator's fame. This approach has several benefits. First, it accurately maps the development of fundamental theories of the corporation's role in society without bowing to the cults of personality around certain writers. Next, it demonstrates how ideas may be attributable not just to one genius, but to several individuals who may articulate similar thoughts in response to changes in society and work life.

For readers looking to understand the development of management theory, this book is an excellent place to start. For all readers, Gabor makes this an entertaining book by describing in detail the personal qualities of these figures, and how their backgrounds and work experiences shaped the perspectives they brought to bear on the early problems of management.

The Philosophers of Capitalism
The capitalilst philolospher is a great novel. It goes in depth in to how profound capitalist made their mark, and also their faults. So as a reader you get to see what they did, and what they could have done to better. It gives a great foundation on how capitalism came to be, and how it has developed in the last centuries.

Adding value by integrating business history
The general idea of the book is that scientific and humanistic management theories interacted and developed over the century. The author makes explicit issues that guided and constrained the thinkers' ideas. The author reviews the contributions of Frederick Taylor, Mary Parker Follett, Elton Mayo, Chester Barnard, Abraham Maslow, Herbert Simon, Robert McNamara, Alfred Chandler, W. Edwards Deming, and Peter Drucker. The book examines the philosophers' contributions, and shows how these thinkers affected business thingking and practice. ... Read more

Reviews (1)

Capitalism doesn't work!
This collection of 19 articles is divided into three parts, on Capital, exploitation and conflict, Global capitalism, and Crisis and the supercession of capitalism. The contributors, from across the world, reflect the increasingly widespread understanding that capitalism doesn't work. They analyse the exploitation intrinsic to capitalism and recognise that in countries like Britain there are just the two classes, a tiny minority of exploiters and the vast majority who depend on selling their labour power to make a living.

The struggle against capitalism is rooted in the workplace, where we must fight for democracy, as Saad-Filho says in his Introduction. We need to be in work, in our union, and fighting the employer. Adding together any number of pressure groups, even infusing those groups with anti-capitalist ideology will not do what is needed to end capitalism - transform the ideology of the working class.

Ben Fine accuses our trade unions of pursuing sectional interests both nationally and sectorally, when the problem is that our unions are hardly fighting for our industries and services at all. He also sees defence workers as depending on war, and energy and car workers as depending on pollution: so to end war and pollution, all we have to do is destroy what remains of our manufacturing industry!

Targeting the IMF or McDonald's is to attack symptoms, not the root of the problem, as Ellen Meiksins Wood shows. It is not a matter of building a bigger demo next time. It would really terrify the ruling classes of the world if all the anti-globalisation protestors turned to focus on working in their workplaces and trade unions to weaken and destroy capitalism.

We need workers' nationalism, that is, workers deciding their own future, in their own lands and for their own interests. As Marx wrote in the Manifesto, each working class must first of all settle accounts with its own bourgeoisie. We also need workers' internationalism, to save the future of the world and defeat the vested interest of the multinationals and the proponents of reaction and fundamentalism. ... Read more

Book Description

This book argues that there is no single best institutional arrangement for organizing modern societies.Therefore, the market should not be considered the ideal and universal arrangement for coordinating economic activity.Instead, the editors argue, the economic institutions of capitalism exhibit a large variety of objectives and tools that complement each other and can not work in isolation.The various chapters of the book ask what logics and functions institutions follow and why they emerge, mature and persist in the forms they do. ... Read more

Reviews (1)

great
I have looked at a series of good books on social embedding of economic practices but I kept and am reading only this one. I am interested in the concept in order to apply it to business practices and software development in periphery countries and I needed a broader framework. The book is very clearly written. It practically reads like a novel, if this is something you are interested in. The models in the introductory section diagram constructs that were previously hard for me to pull together coherently. I haven't finished reading the individual author contributions but after the two introductory papers by the editors I have high expectations. ... Read more

Book Description

A bold and practical vision of how broad-based personal ownership can strengthen communities, businesses, and individuals

Capitalism now reigns triumphant-but in the process has created dramatic inequalities of wealth and left many individuals feeling disconnected. Backed by enthusiastic support from a wide array of legislators, corporate leaders, Nobel laureates, environmentalists, and social and political activists, The Ownership Solution shows how to humanize and localize free enterprise by using ownership as a means for engaging more people in its design. ... Read more

Reviews (7)

How to save capitalism
"The Ownership Solution" is written by Jeff Gates, one of the original forces behind the legislation that created employee stock ownership plans (ESOPs) in the 1970s. The book seeks to inspire decision makers and business leaders to build on the success of this innovative program. He proposes that similar projects should be launched with the goal of providing opportunities for employees and consumers to gain ownership stakes in the businesses in which they work and spend their money.

Gates argues that the increasingly finance-driven economy has changed the face of capitalism, a phenomenon that has accelerated in recent years. The author shows how the decisions made by detached financial managers results in a system that mainly rewards investors who, by definition, are already wealthy. The speed with which these investments can be reallocated purges the economy of do-good business managers who might choose to devote resources to so-called nonproductive means (such as worker benefits or environmental protections), meaning that workers and society consistently end up losers in this game. Gates believes that the resulting worker insecurity and the marginalization of ever-larger segments of the population ultimately threatens the long-term viability of our democracy.

In contrast, Gates believes that broadening ownership will allow more citizens to feel connected to their workplace and community. His proposals are imaginative but appear to be doable; in fact, some are being practiced in limited form in various places. Here, Gates' writing is at its best. You'll enjoy reading about how DSOPs, GSOPs, CSOPs, RESOPs, VSOPs and yes, ESOPs can help to revitalize the economy and repair our frayed society. Gates suggests that what is needed is the political will to promote these solutions on a larger scale in order to have greater impact and make a difference in people's lives.

Interestingly, a writer in Forbes magazine recently remarked in a condescending manner that ESOPs represent an odd mixture of capitalist and socialist ideas. This suggests to me that the idea has merit. A capitalism that only succeeds in rewarding the top executives of Enron and Citicorp with lavish pay-outs is not sustainable nor is it worth saving. But a capitalism that rewards hard-working employees and consumers with the greater prosperity that comes with earning an ownership stake, as envisioned by Gates, is certainly worth striving for. To that end, I heartily recommend Gates' book to all who are looking for ideas to help save capitalism and to secure the future of our society.

Ivory tower view.
The Ownership Solution by Jeff Gates could also be called Jeff Gates' Book of quotes. Mr. Gates, while clearly learned and well versed in the problems of the world, has failed to recognize that out of context quotes do not support his position. This also assumes you can decipher his position. Personally I found this book to wander, literally, all over the world. Peasants who bearly scratch out a survival existence will never understand or appreciate shared ownership. The human points of view and the individual's place on Maslow's hierarchy are totally ignored and are of critical importance to making Gates' grandiose dream remotely plausible. Gates himself pointed out huge failures in ESOPS. Why then, does he believe they are the solution of all of the earth's problems, from hunger to pollution, to overcrowding? I am baffled by the praise heaped on this book. Mr. Gates has apparently never worked with laborers. I was blessed with a summer on a road crew to open my eyes to a different world. At the end of each week, one of my co-workers talked, in more crude language, about getting paid, drunk, finding a prostitute, and taking whatever was left home to his wife. Many others were planning on joining him. Mr. Gates is probably one of those folks who don't understand why there is a supervisor on a road crew who does nothing but watch people work. Having been there I can tell him that the second the supervisor stops watching, much of the crew stops working. This is foreign to most people with an education and the drive to improve their lives. However, there are millions of people on the earth who perceive those with ownership of business as "not really working." Mr. Gates, in my opinion, never focuses on a single problem long enough to clearly state the problem and how his "solution" will work. He fails to recognize differences among people and he fails to make connections that he thinks will happen on their own. Why does he believe that if more people owned businesses that businesses would stop polluting, would cease creating dangerous products and by-products, and would suddenly be primarily focused on the good of the population? He is not talking about changing the face of business ownership, he is talking about changing human nature. He seems to think that if all of the employees owned the business, the leaders would do what is best for the employee/owners, their children, parents, cousins, and neighbors. United Airlines is one of his pet successes. Currently UAL is not seen in the greatest of light by anyone. Is this his vision for the future?

The Ownership Solution succeeds brilliantly....
The Ownership Solution succeeds brilliantly in showing how broad based personal ownership can strengthen communities and make global sustainable development possible.

Cornucopia of philosophical and practical ideas.
How do we close a growing gap between successful owners and investors and an increasingly anxious underclass? One way would help - more participants in ownership! No one knows more about how that should be done than Jeff Gates and he offers his spectacular insight in this cornucopia of philosophical and practical ideas.

Jeff Gates is .... the practical visionary
Jeff Gates is that most unusual of individuals, the practical visionar ... Read more

Reviews (3)

Important contribution to understanding the US
This book was recently strongly endorsed by Noam Chomsky and for good reason. There is an extreme scarcity of books that address the mechanics of propaganda in the US. For people interested in the details of how the US became the most propagandized society on earth, this book is an invaluable resource.

Turgid, a book of little consequence
This book attempts to prove what everyone already knows. Fones Wolf proves she has no depth and no real understanding of Twentieth century cultural and intellectual history. Her book is pitched toward the lamest of knee jerk liberals.

Corporate Power
A wonderful and well researched study of the origins of corporate power in America. It began with the Big Business reaction towards the gains made by the American labor movement in the 30s with the FLSA. That reaction was embodied in the most anti-labor law passed in the history of America, the 1947 Taft/Hartley Law. This is a must read for all labor activists out there. The book goes into the strategies and propaganda used then to sway the American people against organized labor. Many of the strategies of the past are still used today by American Business and this book will help you recognize them, answer them and effectively rebut them. ... Read more

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