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The 99 Percent Economy: How Democratic Socialism Can Overcome the Crises of Capitalism
We live in a time of crises - economic turmoil, workplace disempowerment, unresponsive government, environmental degradation, social disintegration, and international rivalry. In The 99 Percent Economy, Paul S. Adler, a leading expert on business management, argues that these crises are destined to deepen unless we radically transform our economy.
But despair is not an option, and Adler provides a compelling alternative: democratic socialism. He argues that to overcome these crises we need to assert democratic control over the management of both individual enterprises and the entire national economy. To show how that would work, he draws on a surprising source of inspiration: the strategic management processes of many of our largest corporations. In these companies, the strategy process promises to involve and empower workers and to ensure efficiency and innovation. In practice, this promise is rarely realized, but in principle, that process could be consolidated within enterprises and it could be scaled-up to the national level.
Standing in the way? Private ownership of society's productive resources, which is the foundation of capitalism's ruthless competition and focus on private gain at the cost of society, the environment, and future generations. Adler shows how socialized, public ownership of our resources will enable democratic councils at the local and national levels to decide on our economic, social, and environmental goals and on how to reach them. The growing concentration of industry makes this socialization step ever easier.
Democratic socialism is not a leap into the unknown, Adler shows. Capitalist industry has built the foundations for a world beyond capitalism and its crises.
But despair is not an option, and Adler provides a compelling alternative: democratic socialism. He argues that to overcome these crises we need to assert democratic control over the management of both individual enterprises and the entire national economy. To show how that would work, he draws on a surprising source of inspiration: the strategic management processes of many of our largest corporations. In these companies, the strategy process promises to involve and empower workers and to ensure efficiency and innovation. In practice, this promise is rarely realized, but in principle, that process could be consolidated within enterprises and it could be scaled-up to the national level.
Standing in the way? Private ownership of society's productive resources, which is the foundation of capitalism's ruthless competition and focus on private gain at the cost of society, the environment, and future generations. Adler shows how socialized, public ownership of our resources will enable democratic councils at the local and national levels to decide on our economic, social, and environmental goals and on how to reach them. The growing concentration of industry makes this socialization step ever easier.
Democratic socialism is not a leap into the unknown, Adler shows. Capitalist industry has built the foundations for a world beyond capitalism and its crises.
240 pages, Hardcover
First published September 5, 2019
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396 people want to read
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Displaying 1 - 10 of 10 reviews
January 31, 2020
This is a really good book with some compelling thoughts about how to transition to a socialist economy. For those of us who roll our eyes at "collaborative strategizing" and TQM and entrepreneurship (and company loyalty and "innovation" and on and on), this is a helpful reminder that the point of socialism isn't to burn every Walmart to the ground and start over, but for socialism to be a democratization, humanization and improvement upon of the best and most efficient parts of capitalism, and that we're going to need loyal "company men," problem-solvers and innovators to help turn the biggest baddies of the Fortune 500 into social organizations for the public good.
September 25, 2019
Well written and well thought out.
While you may or may not agree with his positions the author is very knowledgeable and intelligent. The material is well researched and I can't imagine subject more relevant to the current situation in the world and politics.
While you may or may not agree with his positions the author is very knowledgeable and intelligent. The material is well researched and I can't imagine subject more relevant to the current situation in the world and politics.
May 11, 2020
The book reads very much like a lecture. And it was, as I found at the very end, based on the author's three public lectures given at the Said Business School of Oxford University. As such, there is more of an academic flavor than that of a seasoned practitioner in calling for a clearcut approach to transform the neo-liberal capitalist system into what he advocates as 'democratic socialism'. He methodically outlays the features of the capitalist economy (consuming cycles of economic crises, disempowerment at the workplace, unresponsive government, environmental degradation, social disintegration, and international conflicts) that has been haunting the working class (the 99 percent) ever since the advent of the industrial revolution, and offers solutions for each --some reasonable and applicable, others dreamy and impractical. Interestingly, he credits the current economic system as having prepared the ground (and rationale) for a radical transformation by the very features that have served the interest of the 1 percent who controls the Wall and the Main streets.
March 10, 2022
Engaging. Well referenced. Thought/provoking
October 31, 2019
Reality-based hope
With an unflinching view of our neoliberal nightmare, the author provides concrete evidence that hyper-capitalism has created the preconditions for a relatively smooth transition to the kind of eco-socialism that might allow the survival--and thriving--of people and planet. Here is a welcome intellectual respite for those of us drowning in dystopia, so that we might catch our breath, see the beckoning socialist shore, and swim more boldly toward it.
With an unflinching view of our neoliberal nightmare, the author provides concrete evidence that hyper-capitalism has created the preconditions for a relatively smooth transition to the kind of eco-socialism that might allow the survival--and thriving--of people and planet. Here is a welcome intellectual respite for those of us drowning in dystopia, so that we might catch our breath, see the beckoning socialist shore, and swim more boldly toward it.
January 29, 2022
I have both Undergrad and Graduate degrees in Business Administration, as well as significant business experience, including entrepreneurship. Some points Adler didn't mention are the unique problems faced by very large organizations, the behemoth syndrome; GM, Ford, Chrysler, can't quickly change tooling as the market changes from big SUV to small economy car. But a smaller manufacturer probably could. The fact that earning his Ph.D. In France may have led him to believe that French organizational behavior, management theory, economics, and politics are a universal norm. He seems to think highly of the London School of Economics and its most famous professor Dr. Keynes, who was an economic adviser to F.D.R. Adler asserts that government intervention in the economy is what got us out of the Great Depression. But many, along with Friedman, Hayek, and Von Mises, believe it might have been over sooner without that intervention. He also asserts that higher prices is the major problem with monopoly. Higher prices do occur, but they occur because of under producing enough to meet demand. He further fails to mention that the sizable profit a monopoly gets makes it attractive to start-up companies to enter that industry. Some have argued that start-ups face insurmountable costs to enter an industry. But it's likely those costs are no different from those faced by others in that industry. There are other instances of this author not telling the full story that would tend to mitigate his argument, but these few should at least alert the reader to be careful. This book was a gift and I'm very glad I read it. It helps me to understand more fully the arguments of the so called democratic socialists, as well as to confirm my worst fears; the phrase "democratic socialism" is no more than a mask for the socialism behind the mask. I rated it highly to encourage everyone to read it, and then make your own judgment about it.
July 19, 2020
"Our political system is unresponsive to the popular will. We have a system we call democracy, but it functions like a plutocracy—rule by the rich."
This was a really good book. It was detailed enough to answer a lot of questions I had about how someone envisions a broader Democratic Socialist economy working, and then it drilled down to talk in some detail about local government and small business. I feel like I have a better understanding now about how the pieces fit together and how things could work at least theoretically.
"We are confronted with a mounting environmental crisis. Climate change is just one aspect of this crisis, but it is likely to disrupt profoundly civilization in the coming decades because we have failed to wean ourselves off fossil fuels."
The prevailing political-economic system—I call it neoliberal capitalism, but we could also call it financialized capitalism—is failing us. In this system, most businesses compete to maximize profits while ignoring the social and environmental consequences of their activity.
I'd recommend this to people who are interested in different forms of socialism, alternatives to capitalism, and also to other people who just want to learn more about economics and economic theory in general. It cannot hurt to learn more about different systems, despite what anyone says. Capitalism is not perfect, and anyone that claims such should be distrusted as a matter of course.
We are creating ever more stress on the planet’s ecosystems through climate change, species extinction, and over-exploitation of land and sea resources. By 1970, humanity had already exceeded the carrying capacity of the planet—our population was using more than the available natural resources could sustain. Today, humanity is using the planet’s natural resources nearly 60% faster than they can be replenished.
This was a really good book. It was detailed enough to answer a lot of questions I had about how someone envisions a broader Democratic Socialist economy working, and then it drilled down to talk in some detail about local government and small business. I feel like I have a better understanding now about how the pieces fit together and how things could work at least theoretically.
"We are confronted with a mounting environmental crisis. Climate change is just one aspect of this crisis, but it is likely to disrupt profoundly civilization in the coming decades because we have failed to wean ourselves off fossil fuels."
The prevailing political-economic system—I call it neoliberal capitalism, but we could also call it financialized capitalism—is failing us. In this system, most businesses compete to maximize profits while ignoring the social and environmental consequences of their activity.
I'd recommend this to people who are interested in different forms of socialism, alternatives to capitalism, and also to other people who just want to learn more about economics and economic theory in general. It cannot hurt to learn more about different systems, despite what anyone says. Capitalism is not perfect, and anyone that claims such should be distrusted as a matter of course.
We are creating ever more stress on the planet’s ecosystems through climate change, species extinction, and over-exploitation of land and sea resources. By 1970, humanity had already exceeded the carrying capacity of the planet—our population was using more than the available natural resources could sustain. Today, humanity is using the planet’s natural resources nearly 60% faster than they can be replenished.
December 15, 2020
"The democratic-socialist model is so radically different from the neo-liberal model currently dominant in the U.S. and other countries, it is hard to imagine how we get from here to there". I agree with that. I'm not sure I want to go full democratic-socialist, despite the problems with neo-liberal capitalism. From the six crises of the current economic system to the root causes, to the socialization of production to de-taxing enterprises, to the 4 types of capitalism, of which I favor regulated capitalism. The book is laid out well and has a lot of information to consider. I liked the part about high road firms like Kaiser Permanente in his description of collaborative strategizing. A democratizing of the business process, if you will. Reminded me of lean manufacturing when implemented correctly. I can see where quite a few of the changes he describes would be good and beneficial. I'm not convinced the full monty is the way to go. Maybe because I already worked 48 years in the neo-liberal economic system. That may be why when he talks about collectivism, replacing private enterprise ownership with public ownership, having all these central committees deciding everything from society's main economic goals to the hours I get to work to what and how much reward and recognition I can receive. I had a hard time with that. I think it works against human nature. Glad I read the book. Glad I got the information. The learning process continues.
April 17, 2022
No war but class war <3
January 4, 2020
It was quite the slog to get through this one – it starts off on the well-trodden path documenting the many ills of our current capitalist system but then plunges head first into making a case for what amounts to a throw back to an idealized soviet style socialist state. There’s an attempt to tie this idealized socialized State with real world examples of so-called ‘high road’ firms, and the examples given here rely mostly on a personal case study with Kaiser Permanente. Yes, that Kaiser, the one that no one has ever mistaken for a Socialized Utopia. (There’s also the Biz School darling NUMMI mentioned, which is also out of sorts for this particular proposal.) I can see all of this appealing to the most Panglossian optimist and dedicated Jacobin reader, but it is all so devoid of existing in the real world let alone one that would appeal to most people, even staunch progressives. There seem to be 2 books here and one could have worked well to describe the positive real-world management approaches described and how they merely approach a better social / political structure, and another book describing an idealized political end-state, but this at it was this was a peanut butter / chocolate mix that did not go great together.
Displaying 1 - 10 of 10 reviews