By Douglas Dowd
ISBN-10: 0745322794
ISBN-13: 9780745322797
ISBN-10: 0745322808
ISBN-13: 9780745322803
This vintage ebook is a perfect advent to fiscal idea and the dominance of capitalism, perfect for college kids of monetary idea and background. Now completely revised and up-to-date, this re-creation features a new preface and an extra bankruptcy via the writer. Analysing the connection among fiscal suggestion and capitalism from 1750 to the current, Douglas Dowd examines the dynamic interplay of 2 procedures: the ancient realities of capitalism and the evolution of monetary thought. He demonstrates that the research of economics celebrates capitalism in ways in which make it essential to classify fiscal technological know-how as natural ideology. A completely sleek background, this publication exhibits how economics has turn into ideology. an intensive critic of capitalism, Dowd surveys its damaging influence around the globe and all through background. The ebook contains biographical sketches and short analyses of the foremost proponents and critics of capitalism all through heritage, together with Adam Smith, Thomas Malthus, Jeremy Bentham, John Stuart Mill, Karl Marx, Thorstein Veblen, Rosa Luxemburg, John Maynard Keynes, Paul Samuelson, Milton Friedman, and Eric Hobsbawm.
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Additional info for Capitalism and Its Economics: A Critical History (2004)
Sample text
Utilitarianism and its offspring, the utility theory of economics, shifted the focus away from such matters – matters of production – and toward the psychological/mental states of all economic “units” – consuming, working, business, whatever, “units” – and “the market,” where things (all commodities, including work “units”) are bought and sold, and where the buyers and sellers behave in response to anticipated pleasure or pain. In the next chapter I discuss this doctrine more fully. It is one that depends on everyone, everywhere, all the time, being calculating, rational human beings: no classes, no history, no past, no tomorrow (that could be Printed by Pressworks.
Whoever says Industrial Revolution says cotton,” began Hobsbawm in his chapter on the period (1968, 40); and whoever says cotton must also note the role of the State in taking Britain along that path. 12 The English wool trade was a mighty political force, for it included merchants, the woolen cloth producers, and those raising the sheep. 13 Though initially meant to serve the woolen industry, and given relevant matters earlier noted, it was the chief element in insuring that the infancy and early developments of the cotton industry would be fully protected from competition.
Such enormous economic changes could not occur without changes at least as enormous in social (including cultural) and political life. Whatever positive meanings that may have carried for the upper layer of society up to 1850, it constituted a grave and many-dimensioned setback for the lives of the majority in Great Britain – whether English, Irish, Scottish, or Welsh. In all those societies, cities and factories and mines grew like weeds – poisonous weeds for well over half of their populations.
Capitalism and Its Economics: A Critical History (2004) by Douglas Dowd
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