What do you think?
Rate this book
Writers & Readers Documentary Comic Book #8
Capitalism for Beginners
Perturbed by stagflation? In pain from recession? Sick with worry about whether the world economy can survive? You've gone to your corner economist and you couldn't understand the cure? Finally! An amusing, soundly researched, and highly accessible book that tells you everything you want to know about capitalism- the system its greatest theorists though could never survive.
In this fair, concise, and good-humoured book, Robert Lekachman, Distinguished Professor of Economics at the City University of New York, assesses capitalism for what it's supposed to do best: deliver the goods. He starts by questioning the United States, where capitalism seems as natural as breathing and the free market is as much a byword as Mom's apple pie. But what are the realities? To understand them, he wittily documents capitalism's history from Adam Smith and Karl Marx to late last night; from mercantilism to monetarism, with explanations in between of investment and money, business cycles, the postwar boom, and the present recession.
No sermons are preached. Readers must consider for themselves the dilemma that confronts us all: the future of capitalism and its effect on the world.
In this fair, concise, and good-humoured book, Robert Lekachman, Distinguished Professor of Economics at the City University of New York, assesses capitalism for what it's supposed to do best: deliver the goods. He starts by questioning the United States, where capitalism seems as natural as breathing and the free market is as much a byword as Mom's apple pie. But what are the realities? To understand them, he wittily documents capitalism's history from Adam Smith and Karl Marx to late last night; from mercantilism to monetarism, with explanations in between of investment and money, business cycles, the postwar boom, and the present recession.
No sermons are preached. Readers must consider for themselves the dilemma that confronts us all: the future of capitalism and its effect on the world.
174 pages, Paperback
First published May 12, 1981
7 people are currently reading
195 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 7 of 7 reviews
March 24, 2022
A nice 1980's romp through the labyrinth of capitalist theory, history and terminology, with some frightfully accurate predictions for the now-present future. Robert Lekachman was well ahead of his time.
"...the argument that competition, even where it is to be found, must enhance the public good is deflated by the ever-increasing environmental damage inflicted by externalities. As scientists learn more about their effects, the materials and processes of advanced industrialism loom more and more menacing to public health and worker life and safety." (pg. 170)
"It may well occur that growing worker disaffection and increasing social tension will frighten dominant corporate and financial interests into an authoritarian response. It is easy to believe that business leaders, always far more attached to their own power and influence than to mass forms of democracy, will, under stress, jettison civil liberties..." (pg. 173)
And finally: "Average citizens can no longer afford the luxury of abstaining from politics or treating contests for office as spectator sports. The self-interest of those who live by their labor requires replacement of capitalism by democratic socialism." (pg. 173)
"...the argument that competition, even where it is to be found, must enhance the public good is deflated by the ever-increasing environmental damage inflicted by externalities. As scientists learn more about their effects, the materials and processes of advanced industrialism loom more and more menacing to public health and worker life and safety." (pg. 170)
"It may well occur that growing worker disaffection and increasing social tension will frighten dominant corporate and financial interests into an authoritarian response. It is easy to believe that business leaders, always far more attached to their own power and influence than to mass forms of democracy, will, under stress, jettison civil liberties..." (pg. 173)
And finally: "Average citizens can no longer afford the luxury of abstaining from politics or treating contests for office as spectator sports. The self-interest of those who live by their labor requires replacement of capitalism by democratic socialism." (pg. 173)
May 15, 2020
So far my understanding of capitalism was very skewed. I thought its opposed by those who believe in communism or socialism. After reading this, i came to know about how capitalism is itself critiqued by various different believers of capitalism. Adam smith is no longer sacrosanct for me.
I am glad i picked this book. Its a small book of about 180 pages and is a graphic novel. Its a great starter for anybody who wishes to learn about journey of capitalism, its ideals and pitfalls, its future. Worth reading.
I am glad i picked this book. Its a small book of about 180 pages and is a graphic novel. Its a great starter for anybody who wishes to learn about journey of capitalism, its ideals and pitfalls, its future. Worth reading.
December 15, 2014
Need to go back and read this again for my own pleasure, rather than with an eye to teaching.
July 11, 2024
AN "INTERVENTIONIST'S" POPULAR OVERVIEW OF CAPITALISM
In case you're new to them, the "For Beginners" Documentary Comic Books by Pantheon were what existed before the "For Dummies" and "Complete Idiot" book series came into being. Profusely illustrated (more like a "graphic novel" than a "comic book"), they actually contained pretty reliable---and clearly-presented---information.
The text is by Robert Lekachman (1920-1989), who was a "serious" economist, and wrote books such as 'Greed Is Not Enough.'
In this 1981 book, he summarizes economists such as Adam Smith, Karl Marx, Werner Sombart, John Maynard Keynes, and Milton Friedman.
His non-free market, interventionist approach to economics is well-illustrated by the "Finale" chapter, "The Case Against Capitalism Reviewed."
He writes, "Even in the eyes of its defenders, capitalism has been deficient in two additional regards. There are very few competitive markets of the sort envisaged by Adam Smith and his followers. To an increasing degree, capitalist economies are directed by the entirely visible hands of monopolists, multinational giants and domestic oligopolists. And finally, the argument that competition, even where it is to be found, must enhance the public good is deflated by the ever-increasing environmental damage inflicted by externalities." (Pg. 170)
In case you're new to them, the "For Beginners" Documentary Comic Books by Pantheon were what existed before the "For Dummies" and "Complete Idiot" book series came into being. Profusely illustrated (more like a "graphic novel" than a "comic book"), they actually contained pretty reliable---and clearly-presented---information.
The text is by Robert Lekachman (1920-1989), who was a "serious" economist, and wrote books such as 'Greed Is Not Enough.'
In this 1981 book, he summarizes economists such as Adam Smith, Karl Marx, Werner Sombart, John Maynard Keynes, and Milton Friedman.
His non-free market, interventionist approach to economics is well-illustrated by the "Finale" chapter, "The Case Against Capitalism Reviewed."
He writes, "Even in the eyes of its defenders, capitalism has been deficient in two additional regards. There are very few competitive markets of the sort envisaged by Adam Smith and his followers. To an increasing degree, capitalist economies are directed by the entirely visible hands of monopolists, multinational giants and domestic oligopolists. And finally, the argument that competition, even where it is to be found, must enhance the public good is deflated by the ever-increasing environmental damage inflicted by externalities." (Pg. 170)
December 3, 2023
Growing up, I loved this Pantheon "for Beginners" series, partly due to the counterculture vibe of rough brown paper covers and gonzo interior art. But rereading this book (as I was looking for a good history of capitalism) was a disappointment. Lekachman is far more interested in critiques of capitalism than descriptions of its variations (not that I disagree with many of his critiques), and the book is haphazardly organized; there's some historical sequencing, but many digressions and a strong focus on the late twentieth century. It's also a mish-mash when it comes to the cartooning, as the work is much more an illustrated essay than a graphic novel. Midway through, I remembered the graphic novel Economix which I recommend as a better read than this.
February 18, 2024
A bit dated as the book itself was published in the 1980s. However it's absolutely amazing. The art style and illustrations constantly reel the reader in, and in some ways it isn't even an introductory. As the book itself covers relatively abstract economic theories in a matter of simplicity.
April 2, 2024
Made me wish I studied economics because it was so interesting. But also because the only woman mentioned was fucking Margaret. Anywho. I love the emphasis on social justice. And every illustration of Marx with crazy eyes
Displaying 1 - 7 of 7 reviews