Beyond Capitalism: Towards a New World Economic Order - Hardcover

The failure of "socialism" in 1989 led many to declare a "triumph of capitalism". The denouement has quickly followed with negative growth in parts of Europe (dramatically so in the formerly centrally "planned" economies to the East), stagnation in the United States and even Japan, and deepening crises in Africa and Latin America. Is this just a temporary phase in the history of capitalism, prior to the re-emergence of the world economy with renewed vigour in the near future? Whilst not denying the capacity of capitalism for self-renewal, this volume advances the view that, particularly in its late 20th century form, capitalism is fundamentally flawed and must be transformed in order to create a dynamically efficient economy. The ultimate aim of the book is to articulate a more promising way forward - the beginnings of an economic strategy aimed at transforming the so-called free market economy into a democratic market economy. Written in a scholarly but clear and accessible way, the volume should be of interest to students, academics, researchers and professionals.