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Whither Capitalism?

Internalizing the Market and Free Investment

Authors: Nishibe, Makoto

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  • 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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eBook $89.00
price for USA in USD (gross)
  • ISBN 978-981-13-0704-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA in USD
  • ISBN 978-981-13-0703-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book is the first to clarify the essential meaning and serious impact of globalization at the most abstract level from the point of view of Polanyi's three socioeconomic principles of exchange, reciprocity and redistribution. It also provides a theoretically coherent explanation of the evolution of the market and capitalist economies with respect to the advancement of commodification through Marx's internalization of the market into the community and state.
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.

About the authors

Dr. Makoto Nishibe is a Professor at the School of Economics, Senshu University, Professor Emeritus at Hokkaido University, and President of the Japanese Association for Evolutionary Economics, and of the Senshu University Digital Community Currency Consortium Laboratory (Good Money Lab). He completed his M.A. in Economics at York University, Canada, and his Ph.D. in Economics at the University of Tokyo, Japan. He specializes in evolutionary economics and money evolution, and he is the author of Community Dock by Local Currency (Japanese, Senshu University Press, 2018), The Enigma of Money (Springer, 2016) and Community Currency (Japanese, ed., Minerva Shobo, 2012).

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook $89.00
price for USA in USD (gross)
  • ISBN 978-981-13-0704-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA in USD
  • ISBN 978-981-13-0703-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Whither Capitalism?
Book Subtitle
Internalizing the Market and Free Investment
Authors
Copyright
2019
Publisher
Springer Singapore
Copyright Holder
Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-13-0704-1
DOI
10.1007/978-981-13-0704-1
Hardcover ISBN
978-981-13-0703-4
Edition Number
1
Number of Pages
XIV, 172
Number of Illustrations
8 b/w illustrations, 12 illustrations in colour
Topics