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After the New Economy
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After the New Economy

3.98 of 5 stars 3.98  ·  rating details  ·  58 ratings  ·  6 reviews
Doug Henwood scrutinizes the news economy of the 1990s and questions whether it lives up to the grand claims of being unimaginably productive and freed of antique logic. He takes issue with many of the celebratory declarations made about the economy since the 1990s, contending that although capitalism is a relentlessy innovating, globalizing system, the new economy of the ...more
Hardcover, 269 pages
Published October 29th 2003 by New Press (first published October 1st 2003)
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Anyone who engages in magical thinking about the potential of post-cold-war capitalism should be given this book. Sooner rather than later as the 90s recede.
Simon Wood

In his 2003 book "After the New Economy" long time economic commentator, author of "Wall Street: How it Works and for Whom" and editor of the "Left Business Observer" Doug Henwood dissects the Clinton era economy in the United States, that distant decade of booming stocks, dot com IPO's and the new economic paradigm that had apparently changed everything.

In a short opening chapter Henwood gets down with the bull $#!t that accompanied the bull market (also ch
I enjoyed this, it's much smarter than your usual lefty rant. For one, he takes potshots at the anti-globalization crowd in a fun way. The basic thesis is that the investment and stock driven market replaced a largely bank driven market, and that system favors wealthy investors and owners over labor. He goes on to talk about how stock markets etc are really about determining ownership and not so much about actually driving investment into economically productive routes. I found it interesting. I ...more
A good bit of raw data on the early boom years of China's expanding economy along with anecdotes. One such is the story of a young woman who slept on a cot in a factory next to a outvent duct. After months of work her teeth turned blue from inhaling lead contaminated air while she slept.

The problem with that snippet was that it did not even say what she was making. What if you wanted to stop buying that item, even if it could be identified?
This is a good basic text about the structural problems with capitalist economics told by somebody who runs a regular blog about it. Learned some good facts about globalization, and what it is and is not. Problem is it was written for an earlier period, just after the dotcome boom,and is not all that relevant now.
Dave Sticher
My only regret about this book is that it's very dated, being from 2003. I would love to see Henwood write a new book about our troubles now, especially seeing how prescient this one was - he more or less predicts the mortgage crisis on page 3.
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