100 books like A Capitalism for the People

This is one of the best books I have read that helps to understand the reasons behind the fascinating and unpredictable rise of Western liberal civilization.

Humans lived in abysmal conditions for tens of thousands of years, poor, wretched, exposed to violence, war, illness, and untimely death for most of our evolutionary history. The emergence of Western liberal civilization is truly an amazing break with our miserable past. How did this happen?

The authors argue that there is a very precarious path to be followed between totalitarian and imposed order, and chaotic individualism, and Western civilization happened to find almost by chance that delicate balance as a result of a combination of historical, ideological, and other circumstances. 

This is one of the most influential books on economic globalization written in the last decade, and it will certainly continue to be crucial to understand the future of globalization.

Rodrik’s Globalization Paradox pinpoints the key policy trade-offs in a globalized economy: If policymakers opt for “hyper-globalization” while insisting on national decision-making, they could find their societies in the “golden straitjacket” of global capitalism.

Alternatively, they could give up sovereignty to democratically legitimized “global governance”.

As the latter is difficult to achieve and often unacceptable to national policymakers, Rodrik argues for limiting hyper-globalization.

The existence of a globalization paradox as well as Rodrik’s conclusion, has been hotly discussed, but the ongoing debate only proves the importance of his book.

The book, written in a very accessible manner, helps to understand the constraints the poor face and how they make decisions on matters such as education, healthcare, savings, entrepreneurship, and a variety of other issues.

Duflo and Banerjee, recipients of the Nobel Prize in Economics, advocate for the use of randomized controlled trials and, most importantly, to actually listen to what the poor have to say.

The book won the 2011 Financial Times and Goldman Sachs Business Book of the Year Award. To me, it was an eye-opener and a refreshing way to rethink poverty reduction.

Hata, a Korean, adopted by a Japanese couple, serves the Japanese Army as a medic in World War II. His job is to care for enslaved Koreans who serve as “comfort women” to Japanese soldiers. His experiences are the material of nightmares. Years later he leads a deceptively quiet life in a small town in New Jersey with his Korean adoptive daughter. It is deceptively quiet because his unresolved war experiences, presented in flashbacks, haunt him. I admired the abrupt manner in which Chang-Rae Lee interrupted Hata’s uneventful life with horrific memories.

The author’s method felt like the triggering of those who have suffered trauma and continue to relive events as PTSD. This approach of interweaving past with present inspired my depiction of a young German woman living a quiet life on a primitive Icelandic farm, milking the cows and raking the hay, while being repeatedly interrupted by memories of… show more.

I am not the only one struck by Conrad’s depiction of imperial encounter at the dawn of the 20th century. This book contextualizes the real people and places that Conrad adapted for his fiction writing. Jasanoff, a historian, traveled the globe on a container ship for months to try to understand this fascination with maritime travel, far-flung places, and how imperialism and modern capitalism shaped our world.

It is an unusual book (a great thing!) and a meditation on the origins of the contemporary world.

I love Anderson’s narrative about the formation of nations in the 19th Century and what he calls print capitalism, promoted through books and newspapers. A market organised around the same language fosters both the economy and the very much-needed feeling of community required to organise the state and foster industrial capitalism.

More than four decades after its publication, the book remains thought-provoking as it makes me ask whether a single language suffices to hold nations and markets together.

In the build-up to the US invasion of Iraq in 2003, a flurry of books were produced on the ‘new imperialism.’ One of the best was by the Canadian Marxist scholar, the late Ellen Meiksins Wood. What distinguishes capitalist imperialism from its predecessors, Wood argues, “is the predominance of the economic, as distinct from direct ‘extra-economic’—political, military, judicial— coercion.”

By relying on the imperatives of the market, capitalist imperialism has been able to shed most of the visible trappings of older forms of empire, including its network of territorially based colonies overseen by regionally based armies and administrators: “Capitalism has extended the reach of imperial domination far beyond the capacities of direct political rule or colonial occupation, simply by imposing and manipulating the operations of the capitalist market.”

Even though capitalist imperialism relies primarily on market-based coercion rather than the direct use of force to police its interests, Wood is… show more.

Folks familiar with the term “neoliberalism” usually describe it as the economic system that tries to unleash the market by getting the government out of the way. I like Globalists because it shows how unleashing the market demands that government gets in the way—of workers’ rights, movements for equality, and, most ominously, democracy itself. Since it’s impossible to understand fascism without tackling capitalism, a book explaining how we got to today’s market principles is vital.

I see this book as a history of the neoliberal economists who encouraged political leaders to use state violence and repression to unleash free trade and shape the global economy. Globalists tell the story of how modern capitalism developed into today’s vast landscape of inequality that makes a fertile ground for fascism and violent extremism to develop.

I like that the economic advantages of capitalism have not been underestimated, but also that its social, economic failures (corruption, exclusion/poverty, harmfulness and hubristic behaviours, impersonalism, and environmental degradation).

A solution offered is balancing justice and productivity, is trying to fix capitalism without alienating its elites. 

I am greatly impressed by the breadth and ambition of this book. It covers China, Japan, and India and is consequently truly transnational in scope. The book also attempts to relate intellectual history or the history of philosophy to problems that we face today, such as how we can transform our practices to that we can avoid environmental disasters. Duara argues that Asian traditions, given their stress on the interdependence between human beings and nature, might be able to help in this path. Duara’s book poses an important question, namely how to connect Asian intellectual history to concrete problems related to global capitalism.