The Decline of Capitalism: Can a Self-Regulated Profits System Survive

by Harry Shutt

As financial and economic chaos increasingly threatens the entire world, its leaders have only one rigid adherence to the neoliberal policies that have proved so disastrous over 25 years - while they falsify statistics to try and shore up public illusions of 'success' and seek to distract attention with a bogus 'war on terror'. But what this strategy of desperation can no longer conceal is the inability of self-regulated, profit-maximizing capitalism either to deliver minimum acceptable levels of economic security to the vast mass of the world's people or to avert ultimate financial crisis such as will bring ruin even to most of the privileged few.

As this grim reality - manifested in chronic low growth, crumbling share values, bankrupt pension funds and unprecedented corporate failure and fraud - begins to dawn on the public, it must raise increasing doubts as to the sustainability of an economic order so long taken for granted.

Genres: Economics

160 pages, Hardcover

First published December 1, 2004

About the author

Harrry Shutt was educated at Oxford and Warwick universities. He worked for six years in the Development and Planning Division of the Economist Intelligence Unit (EIU). He then moved to the Research Department of the General and Municipal Workers’ Union (1973-76) and subsequently became Chief Economist at the Fund for Research and Investment for the Development of Africa (1977-79). Since then he has been an independent economic consultant.

Reviews

[Seth · Rating 3 out of 5]

This book is an excellent introduction to global macroeconomics for anybody who doesn't study econ...particularly humanities people like me and, um, basically everyone I know. Towards the end, the author gets a little polemical, but nonetheless it's refreshing to hear a (quasi-)Marxist who actually knows how to talk about economics at an advanced level. Great read if you want to be just a little conversant about the *real* economic ins and outs of global capital. Not so great if you're shy of liberal ideology or if you're an economist.

[David · Rating 5 out of 5]

Harry saw it all coming.