Title
The Triumph of Capitalism,New
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Today there is widespread recognition that capitalism is the socioeconomic system of choice. This volume, perhaps the best singlevolume assessment of this economic model and how it emerged, contributes to the understanding of the historic role of capitalism. After reviewing the gestation of the system, it explains the emergence of fullblown capitalism in the eighteenth century, taking it into the nineteenth and its link to the industrial revolution. The primary focus, however, is on the twentieth century, in which capitalism faced and met challenges due to world wars and depression with the aid of interventionist policies, notably Keynesian economics and the welfare state. But the failure of the postwar policy consensus to cope with the twin problems of inflation and slow economic growth led to a resurgence of greater reliance on unalloyed capitalism.Capitalist values so permeate modern culture in America that to question them seems like heresy. In 1989, the economist Robert L. Heilbroner, who had been a perceptive student of capitalism and socialism for decades, proclaimed 'The Triumph of Capitalism,' arguing that the contest of economic systems was over and the victory of capitalism was unambiguous. Fifteen years later, C. Fred Bergsten, Director of the Institute for International Economics, reinforced this view: 'The U.S. model of capitalism and globalization dominates thinking around the world.' Writer Russell Baker, dismayed by perceived degrading effects of marketobsessed management on journalism, observed that 'belief in the virtue of maximized profits has acquired something like sanctity in American life.'An appreciation of economic and social history, and the accompanying clash of ideas, is helpful in providing a context in which ongoing challenges may be evaluated. It is important to know that what is understood to be capitalism has changed significantly over time. The purpose of this book is to provide such context. Written by an economist, but accessible to a general public, this book is a wideranging assessment of today's dominant economic system and its historical development.
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- Q: What is 'The Triumph of Capitalism' about? A: 'The Triumph of Capitalism' provides a comprehensive assessment of capitalism as a socioeconomic system, detailing its historical development, challenges faced in the twentieth century, and its ongoing influence in modern American culture.
- Q: Who is the author of this book? A: The book is authored by Robert Degen, an economist who aims to make the subject accessible to a general audience.
- Q: When was 'The Triumph of Capitalism' published? A: 'The Triumph of Capitalism' was published on January 15, 2008.
- Q: How many pages does the book have? A: The book contains 218 pages.
- Q: What is the binding type of this book? A: 'The Triumph of Capitalism' is available in a hardcover binding.
- Q: What is the condition of the book? A: The book is in new condition.
- Q: What topics does this book cover? A: The book covers the emergence and evolution of capitalism, its interaction with historical events such as world wars and economic depressions, and the shift towards unregulated capitalism in recent times.
- Q: Is this book suitable for general readers? A: Yes, the book is written in an accessible manner, making it suitable for both general readers and those with an interest in economics.
- Q: Does the book discuss the role of government in capitalism? A: Yes, it discusses the impact of interventionist policies, including Keynesian economics and the welfare state, on the development of capitalism.
- Q: What can readers learn from 'The Triumph of Capitalism'? A: Readers can gain insights into the historical context of capitalism, its challenges, and how it shapes modern economic thought and culture.