Capitalism

To commemorate Cyber Monday, our Review of the Week dissects capitalism's history and its possible future effects on society

Posted on December 2, 2019 in Review of the Week

Capitalism : competition, conflict, crises

Shaikh, Anwar. Oxford, 2016
979p bibl indexes afp, 9780199390632 $55.00, 9780199390656

Shaikh’s book is an excellent lexicon of the long-term genesis, content, and journey of capitalism. Its focus embraces the foundational analyses; the turbulent trends and hidden structures; the micro foundations and macro patterns; production and costs; exchange, money, and price; capital and profit; the theory of real life competition in its diverse forms; the theory of wages and unemployment; inflation, profitability, and recurrent crises; and independent and free spirit. The background literature is impressive. Theory and empirical evidence are blended neatly to compose the book’s core. It provides readers with one-stop shopping—an excellent repository of everything anyone would desire to know to be more informed about this formidable social institution. Regardless of capitalism’s achievements, one must never gloss over its challenges to all humanity. The author, sadly, ignores the degree to which humans impact capitalist efficiency. It seems that by working harder to enhance the quality of the human factor, the capitalist will, indeed, offer members of the global village more hope than they have been given to date. Regardless, the book is highly recommended to everyone interested in gaining deeper insight into capitalism and the future of humanity.

Summing Up: Highly recommended. Lower-division undergraduates through faculty.
Reviewer: S. Adjibolosoo, Fermanian School of Business, Point Loma Nazarene University
Subject: Social & Behavioral Sciences – Economics
Choice Issue: Sep 2016

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