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Seminar Studies in History
Capitalism
Capitalism stands unrivalled as the economic system of our times. Since the collapse of the Soviet bloc, the world has become a stage for capital, and yet despite this dominance, capitalism is still not well-understood. This is a guide to thinking about capitalism, both as an ideology and as an economic system. It what are the central, unchanging features of capitalism? How does capitalism vary from place to place and over time? Does capitalism improve our lives? Is capitalism a system which is ‘natural’ and ‘free’? Or is it unjust and unstable? And what about today’s global capitalism? Answers to these questions and many more are sought through an analysis the life of this world-shaping idea and of the writings of leading thinkers such as Adam Smith, Milton Friedman, Francis Fukuyama, John Maynard Keynes and Karl Marx. The book concludes by arguing that the advocates of global capitalism have erred and that, without change, we are heading for an impoverished future.
224 pages, Paperback
First published January 1, 2006
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84 people want to read
About the author
Paul Bowles
11 books1 followerPaul Bowles is a Professor of Economics at the University of Northern British Columbia. He has published widely on both globalisation and East Asian development, and is author of National Currencies and Globalization: Endangered Species? (2007) and Globalization and Labour in China and India (2010).
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September 12, 2022
مجموعه کارگاه تاریخ نشر نی ، پس از دو کتاب در مورد آلمان و تاریخ آن ، سرانجام تاریخ را رها کرده و به موضوع اقتصاد پرداخته و اقتصاد را هم از
مهمترین ، بزرگ ترین و پویا ترین نظام آن شروع کرده : کاپیتالیسم یا سرمایه داری
نویسنده ، دکتر پل بولز کتاب را با تعریفی ساده از سرمایه داری آغاز کرده ، اگرچه از فوت آدام اسمیت بیشتر از 200 سال می گذرد اما همچنان تعریف اسمیت از سرمایه داری تعریفی کامل ، واضح و جامع است . او سرمایه داری را نوعی ساختار اقتصادی بر اساس مالکیت خصوصی ، بازار به معنای خرید و فروش داوطلبانه کالاها و خدمات و نفع طلبی را همچون نیروی محرک می داند . بنابراین می توان نتیجه گرفت که کاپیتالیسم قرار است که رفاه را به حداکثر و مداخلات دولت چه خیر خواهانه و البته بیشتر سودجویانه را به حداقل رساند.
پل بولز در درازای کتاب به انواع مختلف سرمایه داری از سرمایه داری بی رحم قرن هجده ، نوزده و اوایل قرن بیست که به افزایش برده داری و استعمار کشورهای دیگر و شرایط فاجعه بار زندگی کارگران در کشورهای صنعتی مانند انگلستان و فرانسه منجر شده بود ، سرمایه داری کینزی که خواهان نگه داشتن نقشی کوچک اما بسیار حیاتی برای دولت و مداخلات آن در زمان بحران بود و همین گونه به مکتب اقتصادی شیکاگو و در راس آن به میلتون فریدمن و ایده ها و عقاید او برای محدود کردن هر چه بیشتر دولت و آزاد گذاشتن دست سرمایه دار و فعالیت او با کمترین محدودیت ممکن ، یعنی آنچه امروزه با نام نئولیبرالیسم می شناسیم پرداخته است .
نویسنده بر این باور بوده که سرمایه داری شرط لازم برای آزادی و دموکراسی بوده . از نگاه او با محدود کردن دولت ، توزیع قدرت اقتصادی به میلیونها نفر عنصر فعال واگذار شده و با تشکیل طبقه متوسطی قدرتمند ، نفوذ و قدرت دولت کاسته شده و قانون حاکم خواهد شد نه افراد . بنابراین از نگاه او افزایش تجارت با کشورهای خودکامه بهترین راه توسعه دموکراسی در این کشورهاست .
پل بولز انواع مختلف کاپیتالیسم مانند سرمایه داری در آمریکا و انگلستان ، سرمایه داری کشورهای اسکاندیناوی و سرمایه داری ژاپن را با هم مقایسه کرده ومزایا و معایب هر کدام را بر شمرده . او سپس به این نتیجه مهم رسیده که نمی توان بهترین نوع سرمایه داری را مشخص کرد .
سرمایه داری به عنوان تنها گزینه موجود ، دشمنان زیادی دارد . آنان غالبا سرمایه داری را ناعادلانه ، نابود کننده محیط زیست ، سیستمی تحت کنترل افراد معدود و دشمن آزادی می دانند . از نگاه آنان در سرمایه داری توزیع درآمد از آن رو که از منطق تولید سود پیروی می کند نیازهای اجتماعی را در نظر نمی گیرد ، به این دلیل است که میلیونها نفر در آفریقا دسترسی به واکسن و یا دارو مالاریا ندارند اما سیستم به سبب سود بیشتر ، به دنبال تولید مکمل برای قشر مرفه آمریکایی ایست . از نگاه آنان سرمایه داری نیاز فوری به نظارت ، مدیریت ، اصلاح و حذف و دادن جای خود به سیستمی دارد که مبنای آن سود طلبی نباشد اگر چه که مخالفان سرمایه داری نتوانسته اند چنین سیستمی خلق کنند .
پل بولز در کتاب کم حجم خود توانسته تعریفی کلی از سرمایه داری ، مزایا ، معایب و انواع مختلف سرمایه داری ارائه کند ، او خواننده را با مفاهیم اقتصاد از نگاه کینز و فریدمن آشنا کرده و مزایا و معایب هر کدام را شرح داده است . کتاب پل بولز منسجم و پیوسته بوده بوده و او با نظم و بدون آشفتگی مطالب کتاب را جلو برده است . درپایان کتاب نویسنده افزون بر آشنا کردن خواننده با مفهوم کلی سرمایه داری ، کلید واژه های مهمی مانند اقتصاد کینزی ، فریدمن و مفاهمیم مهمی مانند لیبرالیسم و نئولیبرالیسم را هم به خواننده جهت مطالعه بیشتر معرفی کرده است
مهمترین ، بزرگ ترین و پویا ترین نظام آن شروع کرده : کاپیتالیسم یا سرمایه داری
نویسنده ، دکتر پل بولز کتاب را با تعریفی ساده از سرمایه داری آغاز کرده ، اگرچه از فوت آدام اسمیت بیشتر از 200 سال می گذرد اما همچنان تعریف اسمیت از سرمایه داری تعریفی کامل ، واضح و جامع است . او سرمایه داری را نوعی ساختار اقتصادی بر اساس مالکیت خصوصی ، بازار به معنای خرید و فروش داوطلبانه کالاها و خدمات و نفع طلبی را همچون نیروی محرک می داند . بنابراین می توان نتیجه گرفت که کاپیتالیسم قرار است که رفاه را به حداکثر و مداخلات دولت چه خیر خواهانه و البته بیشتر سودجویانه را به حداقل رساند.
پل بولز در درازای کتاب به انواع مختلف سرمایه داری از سرمایه داری بی رحم قرن هجده ، نوزده و اوایل قرن بیست که به افزایش برده داری و استعمار کشورهای دیگر و شرایط فاجعه بار زندگی کارگران در کشورهای صنعتی مانند انگلستان و فرانسه منجر شده بود ، سرمایه داری کینزی که خواهان نگه داشتن نقشی کوچک اما بسیار حیاتی برای دولت و مداخلات آن در زمان بحران بود و همین گونه به مکتب اقتصادی شیکاگو و در راس آن به میلتون فریدمن و ایده ها و عقاید او برای محدود کردن هر چه بیشتر دولت و آزاد گذاشتن دست سرمایه دار و فعالیت او با کمترین محدودیت ممکن ، یعنی آنچه امروزه با نام نئولیبرالیسم می شناسیم پرداخته است .
نویسنده بر این باور بوده که سرمایه داری شرط لازم برای آزادی و دموکراسی بوده . از نگاه او با محدود کردن دولت ، توزیع قدرت اقتصادی به میلیونها نفر عنصر فعال واگذار شده و با تشکیل طبقه متوسطی قدرتمند ، نفوذ و قدرت دولت کاسته شده و قانون حاکم خواهد شد نه افراد . بنابراین از نگاه او افزایش تجارت با کشورهای خودکامه بهترین راه توسعه دموکراسی در این کشورهاست .
پل بولز انواع مختلف کاپیتالیسم مانند سرمایه داری در آمریکا و انگلستان ، سرمایه داری کشورهای اسکاندیناوی و سرمایه داری ژاپن را با هم مقایسه کرده ومزایا و معایب هر کدام را بر شمرده . او سپس به این نتیجه مهم رسیده که نمی توان بهترین نوع سرمایه داری را مشخص کرد .
سرمایه داری به عنوان تنها گزینه موجود ، دشمنان زیادی دارد . آنان غالبا سرمایه داری را ناعادلانه ، نابود کننده محیط زیست ، سیستمی تحت کنترل افراد معدود و دشمن آزادی می دانند . از نگاه آنان در سرمایه داری توزیع درآمد از آن رو که از منطق تولید سود پیروی می کند نیازهای اجتماعی را در نظر نمی گیرد ، به این دلیل است که میلیونها نفر در آفریقا دسترسی به واکسن و یا دارو مالاریا ندارند اما سیستم به سبب سود بیشتر ، به دنبال تولید مکمل برای قشر مرفه آمریکایی ایست . از نگاه آنان سرمایه داری نیاز فوری به نظارت ، مدیریت ، اصلاح و حذف و دادن جای خود به سیستمی دارد که مبنای آن سود طلبی نباشد اگر چه که مخالفان سرمایه داری نتوانسته اند چنین سیستمی خلق کنند .
پل بولز در کتاب کم حجم خود توانسته تعریفی کلی از سرمایه داری ، مزایا ، معایب و انواع مختلف سرمایه داری ارائه کند ، او خواننده را با مفاهیم اقتصاد از نگاه کینز و فریدمن آشنا کرده و مزایا و معایب هر کدام را شرح داده است . کتاب پل بولز منسجم و پیوسته بوده بوده و او با نظم و بدون آشفتگی مطالب کتاب را جلو برده است . درپایان کتاب نویسنده افزون بر آشنا کردن خواننده با مفهوم کلی سرمایه داری ، کلید واژه های مهمی مانند اقتصاد کینزی ، فریدمن و مفاهمیم مهمی مانند لیبرالیسم و نئولیبرالیسم را هم به خواننده جهت مطالعه بیشتر معرفی کرده است
May 27, 2025
کتابهایی که در این مجموعه به رشتهی تألیف درآمده دسترنج مورخانی است که نه تنها دانای به آخرین پژوهشها و مباحث مربوط به موضوع کار خود بودهاند، بلکه شخصا ذهن ما را به درک و فهم مباحث مربوطه روشن ساختهاند. بناست که این کتابها راهگشای شناخت خواننده به موضوعات اساسی و عمده تاریخ باشد. هم روایت ماجرا را پیش چشم خواننده بگذارد و هم تحلیلی نقادانه از تعابیر و تفاسیر معاصر در اختیار بنهد. مجهز است به انواع ابزارهایی که در تکنگاشتهای تخصصی عموماً اثری از آنها به چشم نمیخورد: گاهشمار وقایع، اصطلاح نامه و شرح حالی مختصر از شخصیتهای مؤثر تاریخی حاضر در کتاب. بخش «راهنمای مطالعه بیشتر» نیز به کار دانشجویانی میآید که طالب اطلاعات بیشتری دربارهی مأخذ مربوط به اطراف و جوانب موضوع هستند. هم استادان و هم دانشجویان در خواهند یافت که اسناد منتخب علاوه بر اینکه به بحث و گفتگو در محیط آموزشی دامن میزند، مورخان را با دست پر به سراغ مواد خامی میفرستد که در راه فهم گذشته به کار گرفتهاند. مقدمهی دبیران مجموعه. کلایو امسلی و گوردون مارتل. صفحه ۱۵ کتاب
۱۴۰۴/۰۳/۰۶
۱۴۰۴/۰۳/۰۶
December 17, 2025
Capitalism by Paul Bowles (Third Edition) identifies the various types of capitalism while also providing definitions for each one identified. The author also highlights the differences between the various types of capitalism, as well as how the forms can vary by country. We are also shown the historical forms of capitalism and the different types of capitalism throughout history while being provided historical analyses leading up to neo-liberalism. Overall, this book has a focus on the types, definitions, differences, and history of capitalism which provides for a very informative read. Especially when we are informed of the views that those who support capitalism have, versus the views of the opposition who do not believe in capitalism the same way.
In Chapter 2: Capitalism as a system: “natural” and “free” the author discusses Adam Smith’s greyhound example when defending the argument that capitalisms market exchanges and contractual agreements are natural to man but no other animal. I found this example to be laughable because Adam Smith essentially states that greyhounds will appear to be working together when chasing down the same hare but once they catch it there is never a deliberate exchange amongst animals to share in a fair or deliberate way. Clearly Adam Smith was not all that into animals because his example might work when greyhounds are used but it fails when you use animals that are known to work together such as wolves, bees, ants, elephants, etc. Viewing the market as something natural to humans also has a few implications that then arise, such as the matter of trying to control the market and exchanges that could then be viewed as attempts to control and restrict human nature. In the same chapter Milton Friedman’s view of individuals and their freedom to choose in the market system should remain free and any restrictions on allowing individuals to exchange is viewed as a limitation to our freedom. This identifies a conflict within the capitalist system of people versus the government. When these two ideas are brought together the outcome of capitalism is prosperity and social progress that can only come about through decentralized decisions that were driven by an individual’s self-interest and that capitalism is a system that helps to provide the most industrial and technological advancements.
On the other hand, Chapter 3: Capitalism as a system: “unjust” and “unstable”, we can see the views of people who do not support the above noted theories. Critics argue that capitalism creates more inequality and instability than it does provide benefits such as the supporters argue it does. Many critics note that more workers are experiencing an increase in wealth disparity between themselves and the owners of the companies they work for. The view is that those who work the hardest receive the least reward and those who work the least are provided with the highest reward. It can also be further argued that since many workers who enter into the labor force have nothing to sell but their own labor the market isn’t truly free for many. In Karl Marx’s view he argues that while it might appear that workers and owners meet equally in the market to buy and sell labor, they in fact do not because the owners have their means of production but workers only have the capacity to sell labor. This ultimately leads to an exploitation of the working class by the capitalists (owners).
Chapters 2 and 3 provided us with a lot of information to reflect on from both sides of the arguments for or against capitalism. I found this to be a beneficial way to begin the conversations on what capitalism is and how it appears to function as a system and it is beneficial in the sense that the book isn’t trying to steer you to believe just one way of thinking. It provides you with the ability to analyze the support and criticisms of the system rather than just showing you outright support or outright critique. One aspect of these chapters that I found interesting is how Chapter 2 explains how the state interacts with the capitalist system and what the justification for its interactions are. I always knew one of the key beliefs of capitalists was support for the free market with little to no government interference but I found that belief interesting and contradictory to what we see today where there seems to be a rather large amount of government interference that capitalists don’t seem to mind. So, understanding now how the state functions to benefit private property rights and how certain policies are made by the government to support institutions also helps me better understand how and why these policy decisions are being made and who they benefit.
Chapter 4: Empire and Crises 1870 – 1945 then discusses the beginnings of capitalism when the feudal system broke down and very briefly describes some of the crises from the late 1800. However, I feel that we could have been provided more information as to how the examples provided occurred and what some of the more specific conflicts that arose from them were. I felt that there was not a whole lot to be provided in that section on the “why”. This chapter also focuses on the European countries and the spread of capitalism. Here we can see that violence and theft seems to underly the expansion of this system as Europeans viewed the expansion of free trade as a “civilizing” mission to be undertaken which led to the expansion of their colonies and brutal violence, war, and the spread of diseases because of their desire to colonize other countries. I agree with most of what was said of the historical view we are given in this chapter. We can see that capitalism almost naturally creates war for the pursuit of freedom in a market system and that this creates instability and injustice when there is ongoing conflicts to obtain more power.
Chapters 5 and 6 then begins to look at the more modern era of capitalism in the post 1945 eras. Here we can begin to more easily identify that capitalism has taken on various shapes in different countries because capitalism is very much so dependent on the pathways taken between the state, labor and industries regarding how they operate and how that affects their relationship with each other when defining capitalism. Chapter 5 focuses on identifying the models that we can see in various countries, whereas Chapter 6 then defines the ways capitalism has been experienced in various countries over time. Now we can identify the model’s capitalism takes on such as: Anglo-American model (liberal with decentralized wages and stock markets in place), Norther-European model (welfare with consensus decision making and a large welfare state), East Asian model (developmentalist with market guiding decisions and labor control). This provides us with a very fulsome view of capitalism in the modern era and how it has led to the development of neo-liberalism that we now see as the main system at work in some places, such as Canada.
Paul Bowles helps us to think about capitalism in three ways: abstractly (defining the characteristics), normatively (strengths and weaknesses), and historically (variations through time). With this we can have an overview of capitalism to identify some of its characteristics overtime, such as its: dominant activities (merchant/goods to industrial/workers to financial/banks), nature of the market (competitive to monopoly), ownership (firms to management), tech & social regulation (mass production to flexible production to platform capital and the gig economy), tech & culture (mass production and consumerist late stage capitalism), energy sources (fossil capitalism/extractive capitalism). Capitalism can now be defined in many ways throughout time and our current space when taking all the characteristics and ways of thinking about it into account. We can also identify how some countries would experience capitalism differently. I do wish that we were provided with a more in-depth look at countries outside of Europe as it felt that we were only given small glimpses into those areas of the world and how capitalism has developed and was incorporated there.
Overall, I found this book to be a very informative read to define capitalism and all its forms. It helped to provide me with new ways to think about capitalism and identify the forms we can see around us and in various spaces and places in time. Prior to reading this book I never would have thought about capitalism as being something experienced and defined so differently between countries, my ignorance on this matter had me believing that the same form(s) of capitalism we see in North America would be experienced similarly everywhere. However, now I can also look within North America and am able to better understand and identify the different forms of capitalism between the United States versus Canada and forms are at play within these countries. An example of this is how we can see neo-liberalism having a stronger place in Canada’s government in comparison to the U.S. government.
In Chapter 2: Capitalism as a system: “natural” and “free” the author discusses Adam Smith’s greyhound example when defending the argument that capitalisms market exchanges and contractual agreements are natural to man but no other animal. I found this example to be laughable because Adam Smith essentially states that greyhounds will appear to be working together when chasing down the same hare but once they catch it there is never a deliberate exchange amongst animals to share in a fair or deliberate way. Clearly Adam Smith was not all that into animals because his example might work when greyhounds are used but it fails when you use animals that are known to work together such as wolves, bees, ants, elephants, etc. Viewing the market as something natural to humans also has a few implications that then arise, such as the matter of trying to control the market and exchanges that could then be viewed as attempts to control and restrict human nature. In the same chapter Milton Friedman’s view of individuals and their freedom to choose in the market system should remain free and any restrictions on allowing individuals to exchange is viewed as a limitation to our freedom. This identifies a conflict within the capitalist system of people versus the government. When these two ideas are brought together the outcome of capitalism is prosperity and social progress that can only come about through decentralized decisions that were driven by an individual’s self-interest and that capitalism is a system that helps to provide the most industrial and technological advancements.
On the other hand, Chapter 3: Capitalism as a system: “unjust” and “unstable”, we can see the views of people who do not support the above noted theories. Critics argue that capitalism creates more inequality and instability than it does provide benefits such as the supporters argue it does. Many critics note that more workers are experiencing an increase in wealth disparity between themselves and the owners of the companies they work for. The view is that those who work the hardest receive the least reward and those who work the least are provided with the highest reward. It can also be further argued that since many workers who enter into the labor force have nothing to sell but their own labor the market isn’t truly free for many. In Karl Marx’s view he argues that while it might appear that workers and owners meet equally in the market to buy and sell labor, they in fact do not because the owners have their means of production but workers only have the capacity to sell labor. This ultimately leads to an exploitation of the working class by the capitalists (owners).
Chapters 2 and 3 provided us with a lot of information to reflect on from both sides of the arguments for or against capitalism. I found this to be a beneficial way to begin the conversations on what capitalism is and how it appears to function as a system and it is beneficial in the sense that the book isn’t trying to steer you to believe just one way of thinking. It provides you with the ability to analyze the support and criticisms of the system rather than just showing you outright support or outright critique. One aspect of these chapters that I found interesting is how Chapter 2 explains how the state interacts with the capitalist system and what the justification for its interactions are. I always knew one of the key beliefs of capitalists was support for the free market with little to no government interference but I found that belief interesting and contradictory to what we see today where there seems to be a rather large amount of government interference that capitalists don’t seem to mind. So, understanding now how the state functions to benefit private property rights and how certain policies are made by the government to support institutions also helps me better understand how and why these policy decisions are being made and who they benefit.
Chapter 4: Empire and Crises 1870 – 1945 then discusses the beginnings of capitalism when the feudal system broke down and very briefly describes some of the crises from the late 1800. However, I feel that we could have been provided more information as to how the examples provided occurred and what some of the more specific conflicts that arose from them were. I felt that there was not a whole lot to be provided in that section on the “why”. This chapter also focuses on the European countries and the spread of capitalism. Here we can see that violence and theft seems to underly the expansion of this system as Europeans viewed the expansion of free trade as a “civilizing” mission to be undertaken which led to the expansion of their colonies and brutal violence, war, and the spread of diseases because of their desire to colonize other countries. I agree with most of what was said of the historical view we are given in this chapter. We can see that capitalism almost naturally creates war for the pursuit of freedom in a market system and that this creates instability and injustice when there is ongoing conflicts to obtain more power.
Chapters 5 and 6 then begins to look at the more modern era of capitalism in the post 1945 eras. Here we can begin to more easily identify that capitalism has taken on various shapes in different countries because capitalism is very much so dependent on the pathways taken between the state, labor and industries regarding how they operate and how that affects their relationship with each other when defining capitalism. Chapter 5 focuses on identifying the models that we can see in various countries, whereas Chapter 6 then defines the ways capitalism has been experienced in various countries over time. Now we can identify the model’s capitalism takes on such as: Anglo-American model (liberal with decentralized wages and stock markets in place), Norther-European model (welfare with consensus decision making and a large welfare state), East Asian model (developmentalist with market guiding decisions and labor control). This provides us with a very fulsome view of capitalism in the modern era and how it has led to the development of neo-liberalism that we now see as the main system at work in some places, such as Canada.
Paul Bowles helps us to think about capitalism in three ways: abstractly (defining the characteristics), normatively (strengths and weaknesses), and historically (variations through time). With this we can have an overview of capitalism to identify some of its characteristics overtime, such as its: dominant activities (merchant/goods to industrial/workers to financial/banks), nature of the market (competitive to monopoly), ownership (firms to management), tech & social regulation (mass production to flexible production to platform capital and the gig economy), tech & culture (mass production and consumerist late stage capitalism), energy sources (fossil capitalism/extractive capitalism). Capitalism can now be defined in many ways throughout time and our current space when taking all the characteristics and ways of thinking about it into account. We can also identify how some countries would experience capitalism differently. I do wish that we were provided with a more in-depth look at countries outside of Europe as it felt that we were only given small glimpses into those areas of the world and how capitalism has developed and was incorporated there.
Overall, I found this book to be a very informative read to define capitalism and all its forms. It helped to provide me with new ways to think about capitalism and identify the forms we can see around us and in various spaces and places in time. Prior to reading this book I never would have thought about capitalism as being something experienced and defined so differently between countries, my ignorance on this matter had me believing that the same form(s) of capitalism we see in North America would be experienced similarly everywhere. However, now I can also look within North America and am able to better understand and identify the different forms of capitalism between the United States versus Canada and forms are at play within these countries. An example of this is how we can see neo-liberalism having a stronger place in Canada’s government in comparison to the U.S. government.
September 21, 2022
کتاب بسیار مناسب و با ترجمهی عالی، برای آشنایی با کاپیتالیسم که از هر دو جهت موافقان و مخالفان به ابعاد آن میپردازد.
July 18, 2017
This serves as a lovely discussion about capitalism: its types, variations across countries and eras, its historical evolution, its ideological evangelists and critics. If you read chapters at random, you may fall into the trap of judging Paul Bowles as, in turns, a reformist, a radical, a market fundamentalist and a welfare state corporatist. My concerns probably are well aligned with those expressed by the author here, but I guess that it would've made things better if more data had been explicated across the pages of this book. To be fair, Paul Bowles provides suggested readings at the end of each chapter and a detailed reference list at the end, but the utility of this book with respect to (possibly) raising humane concerns within the "other side" (market fundamentalists or neoliberals, for one) is restricted by the lack of thorough empirical analyses. Though I am sure that that was not the point...
July 14, 2025
This book offers a thorough explanation of how capitalism evolved into a global force, an ideology that shapes and governs economic activities around the world. However, one major drawback is the edition I read: the 2006 version. Considering everything that has happened between 2006 and 2025, much has changed in how people define and experience capitalism. With the rapid development of technology, shifts in politics, and recurring economic crises, capitalism itself has adapted to new contexts. While some of the book’s insights remain relevant, many sections now feel outdated and less applicable to today’s realities. If you're looking for foundational knowledge, this book is useful. But for a current, real-world understanding of capitalism, you’ll likely need to supplement it with more recent sources.
August 3, 2025
Its the externalities that will kill us
June 26, 2016
Paul Bowles, gives a history of the development of Capitalism, essentially how from the industrial revolution, through mechanization and mass production, was it possible to pursue the idea of profit over survival. As it treks along attention is given to critics of the labor system of the 19th century and beyond as well as to people who praise the system and the benefits it is to provide. The book moves onto the post-1945 period of Capitalism and it's successes through the 1950s and 60s (for non minorities in major industrial countries) until the oil crisis in the 1970s that shattered the economic theory and gave rise to neo-liberalism and it concludes with varying views on "globalisation" or "regionalisation" and the pro and con arguments put forth by various individuals. Of course, with credit to providing both pro and con perspectives, it's obvious the authors personal view is with the critics (thankfully).
September 23, 2007
The first half tries to figure out what capitalism is, and Bowles makes it pretty clear only what it's not: "natural" or "eternal". Second half covers the recent history of capitalism in all its abundant varieties, including a frightening chapter on neoliberalism. Though he gives a fair hearing to clowns like Hayek and Friedman, it's pretty obvious he's on the side of us lefties. Concise and essential.
December 11, 2010
An excellent overview of capitalism.
January 2, 2017
must read for everyone
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