Overview
- Clarifies the meaning and impact of globalization in light of Polanyi’s three socioeconomic principles of exchange, reciprocity, and redistribution
- Provides a theoretically coherent explanation of the evolution of the market and capitalist economies in view of the advancement of commodification
- Presents a comprehensive theory of money as communication media and demonstrates the prospect of a post-capitalist economy with community currencies, LETS, and other new forms of money
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Table of contents (6 chapters)
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Front Matter
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Back Matter
Keywords
About this book
Globalization is the long-term tendency of the market to extensively expand and deepen, and of the community and state to contract and become shallower. The ultimate goal of globalization is free investment capitalism for all people – not only capitalists and speculators, but workers, students, and housewives as well.
The book also examines Hayek's criticism of a centrally planned economy and Lange's proposal of market socialism in the “Socialist Calculation” debate, which has been ongoing since the 1920s, and acknowledges Hayek's vision of a distributed market with local and tacit knowledge to explain why socialism is infeasible and capitalism is robust.
The outcomes of globalization are disastrous in socioeconomic, cultural and ecological realms. As such, it argues that in the twenty-first century, a post-capitalist, cooperative market economy mediated by new forms of money as communication media must be achieved. These new media will include community currencies and local exchange trading systems (LETS) that can maintain the merits of money and the market and can overcome the defects of free investment capitalism.
Lastly, this English version of the book includes a postscript explaining the significance and prospects of the socioeconomic changes around the globe since the publication of Japanese version in 2011.
Authors and Affiliations
About the author
Bibliographic Information
Book Title: Whither Capitalism?
Book Subtitle: Internalizing the Market and Free Investment
Authors: Makoto Nishibe
DOI: https://doi.org/10.1007/978-981-13-0704-1
Publisher: Springer Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer Nature Singapore Pte Ltd. 2019
Hardcover ISBN: 978-981-13-0703-4Published: 02 December 2019
Softcover ISBN: 978-981-15-0700-7Published: 02 December 2020
eBook ISBN: 978-981-13-0704-1Published: 22 November 2019
Edition Number: 1
Number of Pages: XIV, 172
Number of Illustrations: 8 b/w illustrations, 12 illustrations in colour
Topics: History of Economic Thought/Methodology, Economic Theory/Quantitative Economics/Mathematical Methods, International Economics, Political Economy/Economic Systems