“Urgent work, by the foremost champion of ‘progressive capitalism.’ ” —The New Yorker An authoritative account of the dangers of unfettered markets and monied politics, People, Power, and Profits shows us an America in crisis. The American people, however, are far from powerless, and Joseph Stiglitz provides an alternative path forward through his vision of progressive capitalism, with a comprehensive set of political and economic changes.
Congressman Ro Khanna offers a revolutionary, “progressive” (James J. Heckman, Nobel Prize winner and professor of economics at the University of Chicago) roadmap to facing America’s digital divide, offering greater economic prosperity to all. In Khanna’s vision, “just as people can move to technology, technology can move to people” (from the foreword by Amartya Sen, Nobel Laureate in Economics) where “Khanna envisions redistributing opportunities from coastal cities to rural middle-America…An exciting vision, brilliantly rendered.” (Arlie Russell Hochschild, author of Strangers in Their Own Land). Unequal access to technology and the revenue it creates is one of the most pressing issues in the United States. An economic gulf exists between those who have struck gold in the tech industry and those left behind by the digital revolution; a geographic divide between those in the coastal tech industry and those in the heartland whose jobs have been automated; and existing inequalities in the technological access—students without computers, rural workers with spotty WiFi, and many workers without the luxury to work remotely. Congressman Ro Khanna’s Progressive Capitalism tackles these challenges head-on and imagines how the digital economy can create opportunities for people across the country without uprooting them. Anchored by an approach Khanna calls “progressive capitalism,” he shows how democratizing access to tech can strengthen every sector of economy and culture. By expanding technological jobs nationwide through public and private partnerships, we can close the wealth gap in America and begin to repair the fractured, distrusting relationships that have plagued our country for fall too long. Inspired by his own story born into an immigrant family, Khanna understands how economic opportunity can change the course of a person’s life. Moving deftly between storytelling, policy, and some of the country’s greatest thinkers in political philosophy and economics, Khanna presents a vision we can’t afford to ignore. Progressive Capitalism is a “practical and aspirational” (Kimberlé Crenshaw, professor of law at UCLA and Columbia University) roadmap to how we can seek dignity for every American in an era in which technology shapes every aspect of our lives.
Never Enough challenges the prevailing assumptions about the decline of middle-class prosperity, opportunity, and material well-being in the United States. In a careful reading of the evidence and a critical analysis of its implications, Gilbert demonstrates the extent to which the customary progressive claims about the severity of poverty, inequality, social mobility, and the benefits of universalism not only distort the empirical reality of modern life in an era of abundance, but confound efforts to help those most in need.
Combining archival research, critical theory, and gender- and disability-analysis, Nate Holdren argues that Progressive Era reform to employee injury law created new employment discrimination against disabled people and a new injury culture that treated employees and their injuries instrumentally.
From the author of Aftershock and The Work of Nations, his most important book to date—a myth-shattering breakdown of how the economic system that helped make America so strong is now failing us, and what it will take to fix it. Perhaps no one is better acquainted with the intersection of economics and politics than Robert B. Reich, and now he reveals how power and influence have created a new American oligarchy, a shrinking middle class, and the greatest income inequality and wealth disparity in eighty years. He makes clear how centrally problematic our veneration of the “free market” is, and how it has masked the power of moneyed interests to tilt the market to their benefit. Reich exposes the falsehoods that have been bolstered by the corruption of our democracy by huge corporations and the revolving door between Washington and Wall Street: that all workers are paid what they’re “worth,” that a higher minimum wage equals fewer jobs, and that corporations must serve shareholders before employees. He shows that the critical choices ahead are not about the size of government but about who government is for: that we must choose not between a free market and “big” government but between a market organized for broadly based prosperity and one designed to deliver the most gains to the top. Ever the pragmatist, ever the optimist, Reich sees hope for reversing our slide toward inequality and diminished opportunity when we shore up the countervailing power of everyone else. Passionate yet practical, sweeping yet exactingly argued, Saving Capitalism is a revelatory indictment of our economic status quo and an empowering call to civic action.
The capitalist market, progressives bemoan, is a cold monster: it disrupts social bonds, erodes emotional attachments, and imposes an abstract utilitarian rationality. But what if such hallowed critiques are completely misleading? This book argues that the production of new sources of faith and enchantment is crucial to the dynamics of the capitalist economy. Distinctively secular patterns of attraction and attachment give modern institutions a binding force that was not available to more traditional forms of rule. Elaborating his alternative approach through an engagement with the semiotics of money and the genealogy of economy, Martijn Konings uncovers capitalism's emotional and theological content in order to understand the paradoxical sources of cohesion and legitimacy that it commands. In developing this perspective, he draws on pragmatist thought to rework and revitalize the Marxist critique of capitalism.
The wake of the financial crisis has inspired hopes for dramatic change and stirred visions of capitalism’s terminal collapse. Yet capitalism is not on its deathbed, utopia is not in our future, and revolution is not in the cards. In Capitalism on Edge, Albena Azmanova demonstrates that radical progressive change is still attainable, but it must come from an unexpected direction. Azmanova’s new critique of capitalism focuses on the competitive pursuit of profit rather than on forms of ownership and patterns of wealth distribution. She contends that neoliberal capitalism has mutated into a new form—precarity capitalism—marked by the emergence of a precarious multitude. Widespread economic insecurity ails the 99 percent across differences in income, education, and professional occupation; it is the underlying cause of such diverse hardships as work-related stress and chronic unemployment. In response, Azmanova calls for forging a broad alliance of strange bedfellows whose discontent would challenge not only capitalism’s unfair outcomes but also the drive for profit at its core. To achieve this synthesis, progressive forces need to go beyond the old ideological certitudes of, on the left, fighting inequality and, on the right, increasing competition. Azmanova details reforms that would enable a dramatic transformation of the current system without a revolutionary break. An iconoclastic critique of left orthodoxy, Capitalism on Edge confronts the intellectual and political impasses of our time to discern a new path of emancipation.
The neo-liberalism that dominated economic thinking since the advent of Thatcher and Reagan is now seen to have serious flaws. Progressive Capitalism seeks to replace it with a new Progressive political economy, based on an analysis of why the growth rates of countries differ, and what firms have to do to achieve competitive advantage in today's global economy. The cornerstone of the political economy of Progressive Capitalism is a belief in capitalism. But it also incorporates the three defining beliefs of Progressive thinking. These are the crucial role of institutions, the need for the state to be involved in their design, and the use of social justice defined as fairness as an important measure of a country's economic performance. Progressive Capitalism shows how this new Progressive political economy can be used by politicians and policy-makers to produce a programme of economic reform for a country. It does this by analysing and proposing reforms for the UK's equity markets, its system of corporate governance, its national system of innovation and its education and training system. Finally, Progressive Capitalism describes the role the state should play in the economy - an enabling one, rather than the command-and-control role of traditional socialism or the minimalist role of neo-liberalism.
