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04-08-2022 | Book Review

Paul Collier, The Future of Capitalism: Facing the New Anxieties

Penguin Books, 2019, 256 pp., ISBN: 978-0141987255

Author: Roger Backhouse

Published in: Society

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Excerpt

George Akerlof, winner of the 2001 Nobel memorial prize in Economics and a pioneer of what he terms ‘identity economics’ (see Akerlof and Kranton 2010), describes the book under review as ‘the most revolutionary work of social science since Keynes.’ The importance of Keynes’s magnum opus, published in 1936, was that it provided a diagnosis of why the Great Depression—the overriding problem facing the world in the early 1930s. Keynes drew on arguments about the social psychology of markets, but his General Theory of Employment, Interest and Money (1936) was fundamentally a work of economic theory. Though aimed at his fellow economists, it provided one of the pillars of the social philosophy that dominated the first three decades after the Second World War, often called ‘the age of Keynes.’ …
Literature
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go back to reference Atkinson, Anthony B. 2015 Inequality: What Can be Done? Cambridge, Mass.: Harvard University Press. CrossRef Atkinson, Anthony B. 2015 Inequality: What Can be Done? Cambridge, Mass.: Harvard University Press. CrossRef
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go back to reference Backhouse, Roger E., Baujard, Antonette, and Nishizawa, Tamotsu (eds) 2021 Welfare Theory, Public Action, and Ethical Values. Cambridge: Cambridge University Press. Backhouse, Roger E., Baujard, Antonette, and Nishizawa, Tamotsu (eds) 2021 Welfare Theory, Public Action, and Ethical Values. Cambridge: Cambridge University Press.
go back to reference Case, Anne, and Deaton, Angus 2020 Deaths of Despair and the Future of Capitalism. Princeton, NJ: Princeton University Press. CrossRef Case, Anne, and Deaton, Angus 2020 Deaths of Despair and the Future of Capitalism. Princeton, NJ: Princeton University Press. CrossRef
go back to reference Collier, Paul 2007 The Bottom Billion: Why the Poorest Countries are Failing and What Can be Done about it. Oxford: Oxford University Press. Collier, Paul 2007 The Bottom Billion: Why the Poorest Countries are Failing and What Can be Done about it. Oxford: Oxford University Press.
go back to reference O’Toole, Fintan 2018) Heroic Failure: Brexit and the Politics of Pain. London: Head of Zeus. O’Toole, Fintan 2018) Heroic Failure: Brexit and the Politics of Pain. London: Head of Zeus.
go back to reference O’Toole, Fintan 2022 We Don’t Know Ourselves: A Personal History of Ireland since 1958. London: Head of Zeus. O’Toole, Fintan 2022 We Don’t Know Ourselves: A Personal History of Ireland since 1958. London: Head of Zeus.
go back to reference Piketty, Thomas 2020 Capital and Ideology. Cambridge, Mass.: Harvard University Press. CrossRef Piketty, Thomas 2020 Capital and Ideology. Cambridge, Mass.: Harvard University Press. CrossRef
go back to reference Rodgers, Daniel T. 2011 Age of Fracture. Cambridge, Mass.: Harvard University Press. CrossRef Rodgers, Daniel T. 2011 Age of Fracture. Cambridge, Mass.: Harvard University Press. CrossRef
Metadata
Title
Paul Collier, The Future of Capitalism: Facing the New Anxieties
Penguin Books, 2019, 256 pp., ISBN: 978-0141987255
Author
Roger Backhouse
Publication date
04-08-2022
Publisher
Springer US
Published in
Society
Print ISSN: 0147-2011
Electronic ISSN: 1936-4725
DOI
https://doi.org/10.1007/s12115-022-00753-5