"This important, well edited.... collection of essays focuses primarily on the contentious relationship between finance and industry, revealing the jury to be still out on the thorny question of the City" culpability. David Kynaston, The Financial Times "An extremely useful and informative volume. Michael Collins, University of Leeds, UKCapitalism in a Mature Economy charts the development of the City as the undisputed financial centre of the world in the late nineteenth and the early twentieth centuries, reflecting Britain's dominant position in the world economy. The book focuses on four inter-related themes: the development and operations of English capital markets including the stock exchange and the clearing and merchant banks, the financing of British industry, the role of financiers and company promoters, and the financing of British overseas capital investment and trade.

This volume represents the first textbook of the Maturity Institute, a new, not-for-profit, multi-disciplinary professional development institution established in 2012 to address the developmental needs of corporations. It explains the institution’s brief history, philosophy, goals, principles, strategic framework and measurement of mature, management practice. It offers a critique of earlier attempts to temper and moderate the worst excesses of late 20th century capitalism including concepts of ‘balanced scorecards’, ‘triple bottom lines’ and ‘corporate social responsibilities’. It tackles the root causes of capitalism’s present malaise, tracing them back to the mantra of ‘shareholder value’. In its analysis, the text describes a mutually inclusive, whole system, value paradigm where every societal stakeholder can benefit from corporate activity, where true wealth creation, resource utilisation and sustainability go hand-in-hand. This book provides a sophisticated, yet practical, navigation chart for all organisations needing to address the immense social and economic changes of the unfolding millennium.

For the first time in history, the globe is dominated by one economic system. Capitalism prevails because it delivers prosperity and meets desires for autonomy. But it also is unstable and morally defective. Surveying the varieties and futures of capitalism, Branko Milanovic offers creative solutions to improve a system that isn’t going anywhere.

Capitalism is the only complex system known to us that can provide an efficient and innovative economy, but the financial crisis has brought out the pernicious side of capitalism and shown that it remains dependent on the state to rescue it from its own deficiencies. Can capitalism be reshaped so that it is fit for society, or must we acquiesce to the neoliberal view that society will be at its best when markets are given free rein in all areas of life? The aim of this book is to show that the acceptance of capitalism and the market does not require us to accept the full neoliberal agenda of unrestrained markets, insecurity in our working lives, and neglect of the environment and of public services. In particular, it should not mean supporting the growing dominance of public life by corporate wealth. The world’s most successful mature economies are those that fully embrace both the discipline of the market and the need for protection against its negative outcomes. Indeed, a continuing, unresolved clash between these two forces is itself a major source of vitality and innovation for economy and society. But maintenance of that tension depends on the enduring strength of trade unions and other critical groups in civil society - a strength that is threatened by neoliberalism’s increasingly intolerant onward march. Outlining the principles for a renewed and more assertive social democracy, this timely and important book shows that real possibilities exist to create a better world than that which is being offered by the wealthy elites who dominate our public and private lives.

What happened to the so-called "golden age" of the postwar boom? Unprecedented rates of economic growth, profitability, and wage increases during the 1950s and 60s have given way to a global capitalist economy in disarray. Reassessing common interpretations of postwar economic history and geography, this book focuses on the evolution of the global economy from the 1950s to the present. Based on extensive research, the book assesses histories of growth, profitability, and technological change in core industrial economies (Japan and the USA), raw material dependent economies (Australia and Canada), and several newly industrializing countries (Brazil, South Korea, and Taiwan). The authors build on standard models of economic change to incorporate new developments in regional dynamics: they use nonlinear, nonequilibrium, and evolutionary arguments to frame discussions of profit rates, technological change, and interregional capital flows.

Has capitalism failed? Is it fundamentally greedy and immoral, enabling the rich to get richer? Are free markets Darwinian places where the most ruthless crush smaller competitors, where vital products and services are priced beyond the ability of many people to afford them? Capitalism is the world's greatest economic success story. It is the most effective way to provide for the needs of people and foster the democratic and moral values of a free society. Yet the worst recession in decades has widely—and understandably—shaken people's faith in our system. Even before the current crisis, capitalism received a "bad rap" from a culture ambivalent about free markets and wealth creation. This crisis of confidence is preventing a full recognition of how we got into the mess we're in today—and why capitalism continues to be the best route to prosperity. How Capitalism Will Save Us transcends labels such as "conservative" and "liberal" by showing how the economy really works. When free people in free markets have energy to solve problems and meet the needs and wants of others, they turn scarcity into abundance and develop the innovations that are the foremost drivers of economic growth. The freedom of democratic capitalism is, for example, what enabled Henry Ford to take a plaything of the rich—the car—and transform it into something affordable to working people. In the capitalist system, economic growth doesn't mean more of the same—grinding out a few more widgets every year. It's about change to increase overall wealth and give more people the chance for a better life.

This volume represents the first textbook of the Maturity Institute, a new, not-for-profit, multi-disciplinary professional development institution established in 2012 to address the developmental needs of corporations. It explains the institutionâ (TM)s brief history, philosophy, goals, principles, strategic framework and measurement of mature, management practice. It offers a critique of earlier attempts to temper and moderate the worst excesses of late 20th century capitalism including concepts of â ~balanced scorecardsâ (TM), â ~triple bottom linesâ (TM) and â ~corporate social responsibilitiesâ (TM). It tackles the root causes of capitalismâ (TM)s present malaise, tracing them back to the mantra of â ~shareholder valueâ (TM). In its analysis, the text describes a mutually inclusive, whole system, value paradigm where every societal stakeholder can benefit from corporate activity, where true wealth creation, resource utilisation and sustainability go hand-in-hand. This book provides a sophisticated, yet practical, navigation chart for all organisations needing to address the immense social and economic changes of the unfolding millennium.

In this forthright challenge to relativist economic recipes for growth and culturalist-incrementalist views in institutional economics, Heller draws on Weber, Schumpeter, and Hayek to present a new universalistic vision of capitalism's depersonalized institutions as well as the ideological policies needed during constructed capitalist transitions.

There has been a major revival of interest in State Capitalism: What it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to describe market reforms deemed imperfect, to settle into a middle ground, as a pragmatic way to describe the state assuming a role as an active economic agent, in addition to its regulatory, social, and security functions. The latter is the central focus of this book, although due attention is accorded to the origins of state capitalism and how it has changed over the years, as well as contemporary ways in which state capitalism may be theorized. This economic agency may assume direct forms, for example, via state owned enterprises. However, it may also be indirect, for example, actively serving private interests through promoting insider firms, who may occupy monopolistic market positions and perform outsourced state functions. In turn, this leads to raise salient governance questions. The latter may encompass agency tensions between public ownership, and political or even private interest control; it may also include issues of transparency and monitoring. Although state capitalism has often been depicted as the preserve of states in the global south, be they developmental or predatory, many forms of state capitalism are visible in mature economies, be they liberal or coordinated, and this is not always associated with superior governance arrangements; indeed, this is an area where clear and easy divisions between the "developing" or "emerging" world and the "developed" or "mature" world may increasingly be breaking down. This volume brings together the accounts of leading experts from around the world; it is explicitly multi-disciplinary, and both consolidates the exiting knowledge base, and provides new, novel, and counter-intuitive insights.