How Capitalism Destroyed Itself
Technology Displaced by Financial Innovation
Business & Finance, Economics, Theory of Economics
| Author: | William Kingston | ISBN: | 9781785367748 |
| Publisher: | Edward Elgar Publishing | Publication: | March 31, 2017 |
| Imprint: | Language: | English |
| Author: | William Kingston |
| ISBN: | 9781785367748 |
| Publisher: | Edward Elgar Publishing |
| Publication: | March 31, 2017 |
| Imprint: | |
| Language: | English |
Capitalism has been sustained by inherited moral values that are now all but exhausted. A unique combination of a new belief in individualism and a long tradition of property rights had traditionally ensured that self-interested action also produced public benefit. However, these rights, including the laws underwriting economic and financial innovation and parliamentary democracy, were gradually captured and shaped by those who could benefit most from them. This fascinating book shows that the outcome is a reduced ability to generate real wealth combined with exceptional inequality, as well as a worldwide breach of the vital trust between voters and their representatives. Capitalism’s injuries are both self-inflicted and fatal.
Capitalism has been sustained by inherited moral values that are now all but exhausted. A unique combination of a new belief in individualism and a long tradition of property rights had traditionally ensured that self-interested action also produced public benefit. However, these rights, including the laws underwriting economic and financial innovation and parliamentary democracy, were gradually captured and shaped by those who could benefit most from them. This fascinating book shows that the outcome is a reduced ability to generate real wealth combined with exceptional inequality, as well as a worldwide breach of the vital trust between voters and their representatives. Capitalism’s injuries are both self-inflicted and fatal.
