While there are signs of recovery from recent economic collapses, relatively few protective measures are in place in the United States to prevent future crises and widespread destruction of livelihoods around the globe.
This book, a follow-up and further development of Martin’s and Torres’ ideas in their acclaimed Savage State: Welfare Capitalism and Inequality, contains a synthesis and critique of economic theory with historical case studies and new discourse on American globalism and its failures to provide for the economic security of millions of people. Since the original publication over ten years ago, there has been a resurgence in radical political economy and critical theory. Instead of "demonizing" the market, Capitalism and Critique draws lessons from the new directions in social theory and seeks clear solutions for future modes of capitalism.
Introduction. Foundations of Direct Democracy and A New Solidarity Contract
1. On the Priority of Wage Labor
2. Robert Owen and Utopian Thought
3. A Democratic Capitalism? Ricardian Socialism and Beyond
4. Marx’s Critique of Political Economy and Class Analysis
5. The Conundrum of Marx’s Theory of Value
6. A Moral Theory of Justice and A Democratic Economy
Conclusion: Against Capital: Unruly Democracy and Popular Economics
Practical and visionary, this stylish and hard-hitting book shows that there are compelling democratic alternatives to the miseries produced by neoliberalism.
David Roediger, University of Kansas, and Author of Class, Race, and Marxism
Much needed during these times, Martin, Torres, and Pimentel have written a brilliant analysis of our society and its core issues. I find their book indispensable. Just as impressive, they do not abandon the reader without thoroughly working through solutions to the problems they interrogate—the capitalist political economy. This is a rarity among books critical with the current status quo.
Mark Gottdiener, State University of New York
In these times of escalating economic crisis and social unrest, Martin, Torres, and Pimentel have provided us with a timely and urgent critique of neoliberal capitalism. All those who seek a just and sustainable future should study their proposals for taming the tyranny of the market and constructing a democratic political economy.
William I. Robinson, University of California at Santa Barbara
Capitalism is being transformed before our eyes. This has implications not only for prosperity but also for democracy and geopolitics. To help us grasp both the crises and power of capitalism, we need to reach beyond economic orthodoxy. This book provides a brief, clear guide to the alternative perspectives offered by different schools of political economy. It will help readers develop a critical perspective on capitalism and on related struggles for justice.
Craig Calhoun, President of the Berggruen Institute, and former Director of the London School of Economics and Political Science