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

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Zed Books, Jul 22, 2005 - Business & Economics - 153 pages
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Should we be more concerned that collapsing share values and widespread corporate failure and fraud beg some serious questions about the viability of the present world economy? Harry Shutt persuasively demonstrates that the present crisis is the culmination of 30 years of deepening stagnation. Faced with a long-term trend of reduced demand for both capital and labor the world economy has only avoided a vast recession through growing reliance on official subsidy and market distortion. Shutt points out that regulatory reform can only work by limiting profitability but that a more sustainable model is unacceptable to ruling elites. He outlines an agenda for fundamental changes, based on the premise that the primacy of private profit is no longer compatible with the priorities of modern democracies.
  

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Harry saw it all coming. Read full review

Contents

Millennium Meltdown
1
The Long Road to Disaster
9
The Deluge Postponed
28
The Surfeit of Capital and Its Consequences
45
The Dishonesty of Desperation
63
A System Past Reforming
83
No End to Denial
100
a study in fantasy
108
The triumph of mendacity over experience
115
Beyond the Cataclysm
121
Notes
138
Index
147
Copyright

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About the author (2005)

Harry Shutt was educated at Oxford and Warwick Universities and is the author of A New Democracy: Alternatives to a Bankrupt World Order (Zed Books, 2001).

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