30 years after the release of his ground-breaking work, The Spirit of Democratic Capitalism, Michael Novak returns to answer the question of what gives rise to democratic capitalism - that intricate blend of commerce and rule of law that encourages peace and global trade. This essay is vital to understanding the intangible environment that best inspires human flourishing, as it discovers capitalism's essence, and uncovers what truly fosters creativity.Novak articulates how democratic capitalism works toward creating, not just consuming, wealth, along with encouraging ambition, discipline, and mutual benefit. He explains how critics fail to consider the interaction between the system and the role that economic, political, and moral liberties play in comprehensive human flourishing.This new and exciting work enlivens the connection between the Bible and democratic capitalism by showcasing how seamlessly the dynamic polity fits with the imperatives of human capacity and drive.

"An American Enterprise Institute/Simon & Schuster publication." Includes bibliographical references and index.

Any serious consideration of Asian American life forces us to reframe the way we talk about racism and antiracism. The current emphasis on racial identity obscures the political economic basis that makes racialized life in America legible. This is especially true when it comes to Asian Americans. This book reframes the conversation in terms of what has been called ""racial capitalism"" and utilizes two extended case studies to show how Asian Americans perpetuate and resist its political economy.

Essay comparing traditional Islamic economics and ethics with the Judeo-Christian value systems of capitalism - covers attitudes to labour productivity, domestic consumption, civil rights, etc. References.

In an aged response to Max Weber’s The Protestant Ethic and the Spirit of Capitalism, Michael Novak discusses how the powerful cultural influence Catholicism has had throughout the world is necessary in any vision of the future of capitalism. Drawing on the major works of modern Papal thought, The Catholic Ethic and the Spirit of Capitalism demonstrates how Catholic tradition has come to reflect a richer interpretation of capitalist culture. Novak offers an original and penetrating conception of social justice and applies a newly formulated notion of social activism to the urgent worldwide problem of ethnicity, race, and poverty. With this fresh rethinking of the Catholic ethic, Novak presents timely research that will challenge citizens in the West seeking a realistic, moral vision and those living in the two historically Catholic regions of the world—Eastern Europe and Latin America—as they take their first steps as market economies.

Following up on his timely and well-received book, A Failure of Capitalism, Richard Posner steps back to take a longer view of the continuing crisis of democratic capitalism as the American and world economies crawl gradually back from the depths to which they had fallen in the autumn of 2008 and the winter of 2009. By means of a lucid narrative of the crisis and a series of analytical chapters pinpointing critical issues of economic collapse and gradual recovery, Posner helps non-technical readers understand business-cycle and financial economics, and financial and governmental institutions, practices, and transactions, while maintaining a neutrality impossible for persons professionally committed to one theory or another. He calls for fresh thinking about the business cycle that would build on the original ideas of Keynes. Central to these ideas is that of uncertainty as opposed to risk. Risk can be quantified and measured. Uncertainty cannot, and in this lies the inherent instability of a capitalist economy. As we emerge from the financial earthquake, a deficit aftershock rumbles. It is in reference to that potential aftershock, as well as to the government's stumbling efforts at financial regulatory reform, that Posner raises the question of the adequacy of our democratic institutions to the economic challenges heightened by the greatest economic crisis since the Great Depression. The crisis and the government's energetic response to it have enormously increased the national debt at the same time that structural defects in the American political system may make it impossible to pay down the debt by any means other than inflation or devaluation.

The Spirit of Capitalism answers a fundamental question of economics, a question neither economists nor economic historians have been able to answer: what are the reasons (rather than just the conditions) for sustained economic growth? Taking her title from Max Weber's famous study on the same subject, Liah Greenfeld focuses on the problem of motivation behind the epochal change in behavior, which from the sixteenth century on has reoriented one economy after another from subsistence to profit, transforming the nature of economic activity. A detailed analysis of the development of economic consciousness in England, the Netherlands, France, Germany, Japan, and the United States allows her to argue that the motivation, or spirit, behind the modern, growth-oriented economy was not the liberation of the rational economic actor, but rather nationalism. Nationalism committed masses of people to an endless race for national prestige and thus brought into being the phenomenon of economic competitiveness. Nowhere has economic activity been further removed from the rational calculation of costs than in the United States, where the economy has come to be perceived as the end-all of political life and the determinant of all social progress. American economic civilization spurs the nation on to ever-greater economic achievement. But it turns Americans into workaholics, unsure of the purpose of their pursuits, and leads American statesmen to exaggerate the weight of economic concerns in foreign policy, often to the detriment of American political influence and the confusion of the rest of the world.

Spiralling inequality since the 1970s and the global financial crisis of 2008 have been the two most important challenges to democratic capitalism since the Great Depression. To understand the political economy of contemporary Europe and America we must, therefore, put inequality and crisis at the heart of the picture. In this innovative new textbook Mattias Vermeiren does just this, demonstrating that both the global financial crisis and the European sovereign debt crisis resulted from a mutually reinforcing but ultimately unsustainable relationship between countries with debt-led and export-led growth models, models fundamentally shaped by soaring income and wealth inequality. He traces the emergence of these two growth models by giving a comprehensive overview, deeply informed by the comparative and international political economy literature, of recent developments in the four key domains that have shaped the dynamics of crisis and inequality: macroeconomic policy, social policy, corporate governance and financial policy. He goes on to assess the prospects for the emergence of a more egalitarian and sustainable form of democratic capitalism. This fresh and insightful overview of contemporary Western capitalism will be essential reading for all students and scholars of international and comparative political economy.

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.

Despite the fall of its ideological enemies--the political messianisms of communism and national socialism--democratic capitalism faces extraordinary challenges in the new millennium, argues City Journal editor and South Park Conservatives author Brian C. Anderson in this thought-provoking new book. Not only has a fanatical form of Islam distrupted the peace and prosperity of the postcommunist era, which some had wrongly heralded as a liberal-democratic "end of history"; our free societies also remain haunted by internal demons--egalitarian fantasies, moral libertinism, an arid and unsustainable secularism, a suicide of culture. Yet nothing ordains the triumph of these demons over the democratic capitalist prospect, Anderson believes. Drawing on a rich anti-utopian tradition of political thought, he defends the real achievements of the free society against an array of critics, ranging from Jean-Paul Sartre to British anti-market conservative John Gray to the quietly authoritarian social democrat John Rawls to the postmodern Marxist and one-time terrorist Antonio Negri. Anderson pays particularly close attention to the United States, the democratic capitalist nation par excellence, showing how it differs from other liberal democracies in its robust religiosity, vigorous civil society, and constitutionalism--all under threat from the American Left. Finally, Anderson explores the thought of some of the deepest anti-utopian thinkers who are friends--albeit critical ones--of the modern regime of liberty, including the brilliant French political theorist Pierre Manent and the godfather of neoconservatism, Irving Kristol. Crisply and vividly presented, Democratic Capitalism and Its Discontents is an essential guide to the conflicts of our time.