What Went Wrong With Capitalism
Understanding the Failures and Future of Economic Systems
Format:Hardback
Publisher:Penguin Books Ltd
Published:11th Jun '24
Should be back in stock very soon
This hardback is available in another edition too:
- Paperback£10.99(9781802061031)
Ruchir Sharma's What Went Wrong With Capitalism explores the detrimental effects of government intervention on free markets and proposes solutions for a healthier economic future.
In What Went Wrong With Capitalism, Ruchir Sharma presents a compelling analysis of the systemic issues plaguing modern capitalism. He argues that while critiques of capitalism often focus on the benefits it provides to the wealthy, the reality is more complex. Sharma contends that the expansion of government intervention in developed nations over recent decades has led to a distortion of free market principles. This has resulted in what he terms 'socialized risk', where the burdens and benefits of economic volatility are shared unevenly across society.
Throughout the book, Sharma highlights how government spending, regulation, and frequent bailouts have created an environment where productivity and economic growth have stagnated. He points out that voters' disillusionment with capitalism stems from experiencing a version of the system that is heavily influenced by state interventions, rather than the free market ideals that originally inspired it. This discontent has fueled societal anger and calls for reform.
To address these challenges, What Went Wrong With Capitalism proposes seven practical solutions aimed at recalibrating the relationship between government support and market freedom. Sharma's vision for a more balanced approach seeks to foster a healthier economic landscape, ultimately leading to greater prosperity and happiness for all. By reexamining the role of government and advocating for a return to core market principles, he provides a roadmap for revitalizing capitalism in a way that benefits everyone.
Sharma stands apart because he is not ideologically driven in presenting a valuable analysis of the issues confronting capitalism. The result is a fresh and accessible contribution to the debates about our economic system that should be read and considered by all sides. -- Robert Rubin, former US Secretary of the Treasury and chairman of Citigroup
Sharma’s new book offers an important perspective on capitalism from a global strategist. This book will reshape how you think about the world and is bound to provoke people on both the left and the right. -- Lawrence H. Summers, former US Secretary of the Treasury
In his timely and consequential book, Ruchir Sharma chronicles the government bailouts, interventions, and machinations that have brought the West to this hinge point in history. His message to policymakers: Try capitalism, the real kind. -- Kevin Warsh, former US Federal Reserve Board Governor
What Went Wrong With Capitalism is aplea for government sanity, for true competition, and against crony capitalism, it is exactly the message our world needs to hear. I am not sure there will be a more correct book this year. -- Tyler Cowen, the Holbert L. Harris Chair of Economics at George Mason University and co-author of the Marginal Revolution blog
A blunt broadside against the welfare state of finance. It will make the right kind of enemies. -- James Grant, founder and editor * Grant’s Interest Rate Observer *
At a moment at which democracy and free markets are under intense challenge all over the world, we are lucky that the brilliant and incomparable Ruchir Sharma has brought us a characteristically original and provocative book that tells us how to understand the ways that capitalism is falling badly short. Everyone should read, absorb and debate Sharma’s wise arguments -- Michael Beschloss
Brilliant ... As Ruchir Sharma argues in his brilliant new book, ‘Because the EU lacks the power to tax and spend directly ... it has turned itself into a pure regulatory state … issuing rules and regulations at an exponential pace.' -- Matthew Lynn * Daily Telegraph *
What ails capitalism, in Mr. Sharma's argument, is government largess specifically in the form of bailouts, tax favors and loose monetary policies that keep companies flush with cash ... his analysis of the Federal Reserve's easy-money policy over the past four decades is trenchant and timely. -- Barton Swaim * Financial Times, Books of the Year *
ISBN: 9780241595763
Dimensions: 240mm x 159mm x 33mm
Weight: 601g
384 pages