Book Description
14 million Megatrends books sold!
Once in a great while a book comes along that challenges conventional wisdom and opens the floodgates to the future. Megatrends 2010's blend of meaning, morals and bottom-line economics celebrates the demise of Business as Usual and the birth of Conscious Capitalism.
In Megatrends 2010, Patricia Aburdene, co-author of the bestselling Megatrends 2000, investigates corporate social responsibility and identifies seven megatrends that will redefine business in the coming years.
Megatrends 2010:
Explains why firms like Timberland, Wainwright Bank, 3M, Chiquita Brands, Motorola, Intel and others are taking a stand for corporate social responsibility Shows that more than 63 million Conscious Consumers prefer to buy from companies who share or reflect their values and lifestyle Describes the surprising power of conscious techniques to enhance productivity Shows that socially responsible and green funds often outperform mainstream mutual funds Explores the New Economy of Consciousness and the quest for ethics in business within the legal confines of modern capitalism
Aburdene demonstrates that significant numbers of both new-economy and old-guard companies are tapping into the wave of conscious capitalism to clean up the corporate image, save the environment, help the less fortunate—and boost the bottom line.
Customer Reviews:
A top pick any business and public lending library must have........2007-09-02
Both MEGATRENDS and MEGATRENDS 2000 were top bestsellers predicting shifts key to economic and business worlds alike: now MEGATRENDS 2010 documents the rise of 'conscious capitalism' and what corporate responsibility means to business trends and activities. Any business library or businessman interested in corporate change will appreciate the data and insights documenting corporate scandals and ethics transition points being fostered by grassroots efforts and managers. A top pick any business and public lending library must have.
Enterprise in an Integral Age.......2007-08-24
Being a futurist myself, I have enjoyed all the 'Megatrends' books. I am heartened to see that the trends Patricia Aburdene reported on have not gone unnoticed. She demonstrates powerfully that businesses are comprised of living human beings who have significant impact on our collective future. This is a far cry from the Cogs-in-machine image of the past. These trends indicate that perhaps business rather than being solely an outlet for human greed, may shape the future of human communities as much or more than religion or politics. Three cheers for Patricia for moving the dialogue forward and leading with hope for a better future.
Megatrends 2010: The Rise of Conscious Capitalism.......2007-07-16
In the past, there has been a well defined line between those who wanted to make money in industry and those interested in the spiritual, cultural, and environmental future of our world. Megatrends 2010: The Rise of Conscious Capitalism states that this division is becoming more and more blurred. In fact, a new trend is growing in business. This new development is blending industry with spiritual, cultural, and environmental awareness to create Conscious Capitalism.
As I read this book, I wasn't sure whether I should applaud Conscious Capitalism or whether I should be appalled. I could see that in some cases, this new practice was beneficial. Employers were looking at ways to improve the lives of employees and trying to make strides to connect with the modern consumer's needs. Some of the companies described were also thoughtfully examining how their products added to the wealth of our future. However, I can see how Conscious Capitalism could easily become a strategy used as a promotional method but not actually practiced by these businesses. In these cases, consumers, employees, and our children would be the losers.
More missionary zeal than hard facts.......2007-03-01
As other reviewers pointed out, Aburdene argues that the 21st century will be transformed by ecological awareness, spirituality and other positive trends.
First, the author fails to see contradictions among those trends. One person's spiritual belief (e.g., only marriages count as meaningful relationships) conflicts with someone else's (e.g., relationships with partners, dogs and friends can be meaningful). No problem until these beliefs get translated into benefits and norms, i.e., "Your family celebration doesn't count."
Second, the widespread discussion of "spirituality" can lead to shallow interpretations. I don't always agree with Carolyn Myss, an example of New Age spirituality. But I have to respect her. She walks the talk. She studied. She doesn't promise easy answers and in fact she warns that being spiritual is very hard.
In contrast, I once attended a bookstore talk where the leader asked everyone, "Raise your hand if you are on a spiritual path." Gimme a break.
I've also heard spirituality defined as attracting what you want, including money, love, and beauty.
Third, the book ignores a counter-trend, the rise in books about atheism and a backlash against organized religion. My career clients aren't reporting a great wave of love and humanity in their working worlds.
The book also ignores other trends, such as the shrinking world, the increased access to information and choice, and the kinds of trends described in The Long Tail.
But my biggest complaint is the author's obvious enthusiasm and support for these trends. Earlier megatrends books seemed more impartial and objective. There's nothing wrong with enthusiastically embracing ideas, but I like books that let you know up front whether you're dealing with argument or analysis. It's especially frustrating to expect the latter and get the former.
Transforming the Capital in "Capitalism" is the answer.......2007-02-12
I give it four star for bringing much hope amid all desperations and dysfunctions of global capitalism we are witnessing today. Identifying the trends is one way to shift the energy and resources from the treadmill of insane greed and suicidal profit making by the War making military-intelligence-corporate-media-thinktank-banking complex. Yet the true Conscious Capitalism will address deeper systemic problems arising out of and inherent in the faulty structure of financial system we are all unconsciously participating in. Search "Transforming Money" at Yahoo or google to educate yourself and others about the systemic design problems of capitalism.
Book Description
Dragon in a Three-Piece Suit is an innovative sociological examination of what is perhaps the main engine of economic reform in China, the large industrial firm. Doug Guthrie, who spent more than a year in Shanghai studying firms, interviewing managers, and gathering data on firms' performance and practices, provides the first detailed account of how these firms have been radically transformed since the mid-1980s.
Guthrie shows that Chinese firms are increasingly imitating foreign firms in response both to growing contact with international investors and to being cut adrift from state support. Many firms, for example, are now less likely to use informal hiring practices, more likely to have formal grievance filing procedures, and more likely to respect international institutions, such as the Chinese International Arbitration Commission. Guthrie argues that these findings support the de-linking of Western trade policy from human rights, since it is clear that economic engagement leads to constructive reform. Yet Guthrie also warns that reform in China is not a process of inevitable Westernization or of managers behaving as rational, profit-maximizing agents. Old habits, China's powerful state administration, and the hierarchy of the former command economy will continue to have profound effects on how firms act and how they adjust to change.
With its combination of rigorous argument and uniquely rich detail, this book gives us the most complete picture yet of Chinese economic reform at the crucial level of the industrial firm.
Download Description
Dragon in a Three-Piece Suit is an innovative sociological examination of what is perhaps the main engine of economic reform in China, the large industrial firm. Doug Guthrie, who spent more than a year in Shanghai studying firms, interviewing managers, and gathering data on firms' performance and practices, provides the first detailed account of how these firms have been radically transformed since the mid-1980s. Guthrie shows that Chinese firms are increasingly imitating foreign firms in response both to growing contact with international investors and to being cut adrift from state support. Many firms, for example, are now less likely to use informal hiring practices, more likely to have formal grievance filing procedures, and more likely to respect international institutions, such as the Chinese International Arbitration Commission. Guthrie argues that these findings support the de-linking of Western trade policy from human rights, since it is clear that economic engagement leads to constructive reform. Yet Guthrie also warns that reform in China is not a process of inevitable Westernization or of managers behaving as rational, profit-maximizing agents. Old habits, China's powerful state administration, and the hierarchy of the former command economy will continue to have profound effects on how firms act and how they adjust to change. With its combination of rigorous argument and uniquely rich detail, this book gives us the most complete picture yet of Chinese economic reform at the crucial level of the industrial firm.
Customer Reviews:
reader friendly.......2000-12-01
Finally, an academic who puts it into words so the rest of us can understand! Dragon in a Three Piece Suit tackles difficult issues in a way that is easily understandable to those of us who don't study economic systems full-time but are interested in learning about them. Guthrie manages to write a compelling work that is simply eloquent - a book that appeals to both academics and the regular-Joe. I appreciated his insights and predictions regarding Chinese economic reform.
Book Description
During the past four decades, the field of development has been dominated by three schools of research. The 1950s saw the modernization school, the 1960s experienced the dependency school, the 1970s developed the new world-system school, and the 1980s is a convergence of all three schools. Alvin Y. So examines the dynamic nature of these schools of development--what each of them represents, their contributions, how they have criticized each other, how they have defended themselves, and how they were transformed. He reviews a variety of empirical studies, focusing on the "classical" and the "new" models, to show how each of the perspectives affects the study of development. In addition, this book features a unique emphasis on the research implications of the three perspectives, involving changes in orientation, agenda, methodology, and findings. Social Change and Development is the first study that compares the strengths and weaknesses of the three schools of development in a thorough, comprehensive manner. It will be of great interest to students and professionals in urban studies, development studies, political science and comparative politics. "Highly recommended." --Development Update "The book is valuable both to the beginners as well as the serious student of development ." -Indian Journal of Public Administration "The book will fill a needed niche, and better than anything heretofore." --Immanuel Wallerstein, SUNY, Binghamton "[The] book is a remarkable piece of work and will, I am sure, be of great service to many teachers and students in a number of fields." --Winston Davis, Southwestern University "Professor So has provided students of development with an excellent review of three major theories of development. He skillfully meets his goals of providing a sympathetic presentation of early expressions of each theory, reviewing major criticisms, and then presenting recent expressions of each theory that have taken criticisms into account. The use of extensive reviews of a few studies within each theory provides students with a clear image of the character of the theory, and more importantly an image of the link between theoretical development and social research. The book avoids unfair caricature of theories and research, and provides a solid basis for further study and research on issues of development." --Robert Fiala, University of New Mexico "The author has succeeded in objectively delineating each theoretical perspective so that the reader is not encumbered with attempting to separate academic theory from political ideology. This is no minor achievement and the author is to be applauded for both his efforts and his achievement of this task. . . . The book will be fascinating reading for anyone interested in the historical and contemporary functioning of nation-states and their interdependency." --Journal of Applied Rehabilitation Counseling "I would like to pass along my compliments on So's new volume. The writing is exceptionally clear and the presentations superb." --Marc W. Steinberg, University of Michigan "A useful analysis of the major development theories. . . . A good text for students and teachers and the only study to address the research implications of the three development theories in a comprehensive fashion." --Development Bookshelf "An exceptionally useful book. . . . So's command of the relevant literature and ability to explain complex material, as well as his even-handed (even sympathetic) treatments of three quite different (and often antagonistic) schools, makes this stimulating book useful for a variety of audiences: scholars interested in problems of Third-World development, specialists in modern world history, and even advanced undergraduates ready to tackle problems of theory." --Journal of World History "Alvin So does a thorough job of presenting three ways to understand development. . . . The writing is clear and the territory covered is vast. The result is an impressive survey." --Contemporary Sociology "Alvin So does a thorough job of presenting three ways to understand development....So provides valuable extended summaries of early and later formulations within each perspective. The writing is clear and the territory covered is vast. The result is an impressive survey, with two main audiences: advanced undergraduates and graduate students interested in a manageable overview of the field, and scholars in other fields who are interested but prefer not to retrace every step of these long and complex debates through the original texts....the book is generally balanced which is no small accomplishment." --Industrial and Labor Relations Review "Fills a gap in the social science literature in the field of development. . .useful not only for students but for faculty members teaching different courses in sociology, history, and political science. It may also be of interest to a wide and diverse non-professional audience wanting to know more of the past and contemporary research carried out by the three schools." --International Journal of Comparative Sociology
Customer Reviews:
Social Change and Development: Modernization, Dependency and World-System Theories (SAGE Library of Social Research).......2007-02-11
It's an easy reference book for the understanding of development theory. It contains the three main currents of development theory including modernization theory, dependency theory and world-system theory. The book is well structured in ideas and eash to read. For those who are interested in the development theory, this book is a good choice.
Never Understood Theory So Well.......2005-10-25
Alvin So's book is the only time I ever read a book about theory and on the first time through the sentence I said "Oh! That's what that's all about!" It's sad but true that most theory books are so full of garbage-- unneeded words, grammatically convoluted sentences that go nowhere-- that you end up more confused than enlightened.
Twenty or so years of teaching at the University of Hawaii if I am not mistaken allowed So to practice again and again explaining theory to students until he'd figured out how to do it right, I only wish he'd written a book on all the other theories as well!
dry as dust but oh, so clear.......2004-07-22
This is clearly a textbook, as the publisher's writeup notes, so don't go looking for a ripping insider tell-all. That said, it's a good, solid textbook in true academic fashion: clearly laid out, systematic in structure and specific in definitions. Absolutely a dream to take notes from.
It's also a needed change that, instead of hopping around references to different theories based on politics or country, the author breaks the text into three blocks - one per major theoretical school - and lines them up chronologically by era of popularity. This of course gets a bit muddy by the end as the field in general starts to look like a free-for-all to find what works, but overall the text is blessedly clear after so much rhetoric.
An Articulate and thorough account of Development Studies.......1998-04-07
Dr. So's comparison of the three major schools of thought in Development Studies, namely Modernization, Dependency, and World Systems, is the best book of its kind currently available. While it lacks the breadth of _Society, State, and Market_ by John Martinussen, it makes up for it in the depth of its analysis. Using A limited numer of theorists, Dr. So presents a comprehensive picture of each of the schools of thought in a historical perspective. He outlines the historical and intellectual origins of each, then discusses the theory itself, follows with an examination of the classical studies in each school, and concludes with the modern studies from that intellectual tradition. If supplemented with another, broader work, this book is a perfect introduction into a daunting field that often defies understanding.
Book Description
It is a commonplace claim of Western political discourse that capitalist development and democracy go hand in hand. Cross-national statistical research on political democracy supports this claim. By contrast, comparative historical studies carried out within a political economy approach argue that economic development was and is compatible with multiple political forms.
The authors offer a fresh and persuasive resolution to the controversy arising out of these contrasting traditions. Focusing on advanced industrial countries, Latin America, and the Caribbean, they find that the rise and persistence of democracy cannot be explained either by an overall structural correspondence between capitalism and democracy or by the role of the bourgeoisie as the agent of democratic reform. Rather, capitalist development is associated with democracy because it transforms the class structure, enlarging the working and middle classes, facilitating their self-organization, and thus making it more difficult for elites to exclude them. Simultaneously, development weakens the landed upper class, democracy's most consistent opponent.
The relationship of capitalist development to democracy, however, is not mechanical. As the authors show, it depends on a complex interplay of three clusters of power: the balance of power among social classes, power relations between the state and society, and transnational structures of economic and political power. Looking to the future, the book concludes with some reflections on current prospects for the development of stable democracy in Latin America and Eastern Europe.
Customer Reviews:
Middle Class Role.......2005-08-03
I agree with the first review posted on this book, but I think there is an important point of the book missing there. Rueschemeyer, Stephens and Stephens emphasize the pivotal role of the middle class in the emergence and persistence of democracy, just as Seymour Lipset and Barrington Moore did before, but they add something new. In their studies in Latin America, they found that the middle class was a positive factor for democratization only when it aligned with the popular sectors. But if the working class is too large or too powerful and the middle class feels threatened, it aligns with the military or the landing elites, with the opposite result: democracy doesn't emerge, or if it exists, it breaks down. This is a key finding that ratifies a study by Jose Nun about Latin America, published in 1967, called "Middle Class military coup." It is important to keep this in mind, especially when in the US Congress the arguments to vote for the Free Trade Agreement with Central America (CAFTA) were that it will promote a strong middle class and therefore the consolidation of democracy. Nun's study first and now this book by Rueschemeyer et al are important alerts for us to keep in mind that this argument is true, but has to be qualified. Not always the middle class will be a positive force for democracy.
Convincing account capitalist-democratic consolidation.......2003-02-14
In this groundbreaking work, Rueschemeyer, Stephens and Stephens establish not only a strong correlation between capitalist development and democracy, but also a convincing causal mechanism by which this development can bring about democracy. The authors choose to focus on a relative class power model in their account of democracy: capitalist development initiates a profound shift in the class structure and the relative power of each class. According to the authors, in a pre-capitalist society the subordinate classes are most likely to support a transition demoracy because they essentially have nothing to lose and everything to gain. They are opposed in this respect by the landowning aristocracy, the dominant class in pre-industrial society and the class that has everything to lose in a democratization of the political system. Thus, the strenghtening of the subordinate (working) class brought about by industrialization bodes well for democracy. Capitalism also brings about an entirely new player--the middle class--that, when it allies with the interests of subordinate classes, intensifies the push for democracy. The analysis of social actors is joined by an analysis of social structure. That is, Rueschemeyer, et al believe that a balance between the state's power and the power of social actors must be established in order for democracy to become a possibility. A strong state counters the power of the elites while a strong landowning class prevents a totalitarian state from forming. The key to creating this balance is the development of a strong civil society between these two forces. Autonomous of both the government and the class system, civil society consists in the aggregation of social actors in various organizations (such as community-based or religious groups and trade unions). Capitalist development frees people from their preoccupation with subsistence agriculture, allowing them to join in such associations and increasing thier power in voicing their collective interests. The most significant contribution of this account is the reassertion of individual agency in the process of democracy, a concept that is often ignored in purely structural accounts of democratization.
Book Description
One of the core assumptions of recent American foreign policy is that China's post-1978 policy of "reform and openness" will lead to political liberalization. This book challenges that assumption and the general relationship between economic liberalization and democratization. Moreover, it analyzes the effect of foreign direct investment (FDI) liberalization on Chinese labor politics.
Market reforms and increased integration with the global economy have brought about unprecedented economic growth and social change in China during the last quarter of a century. Contagious Capitalism contends that FDI liberalization played several roles in the process of China's reforms. First, it placed competitive pressure on the state sector to produce more efficiently, thus necessitating new labor practices. Second, it allowed difficult and politically sensitive labor reforms to be extended to other parts of the economy. Third, it caused a reformulation of one of the key ideological debates of reforming socialism: the relative importance of public industry. China's growing integration with the global economy through FDI led to a new focus of debate--away from the public vs. private industry dichotomy and toward a nationalist concern for the fate of Chinese industry.
In comparing China with other Eastern European and Asian economies, two important considerations come into play, the book argues: China's pattern of ownership diversification and China's mode of integration into the global economy. This book relates these two factors to the success of economic change without political liberalization and addresses the way FDI liberalization has affected relations between workers and the ruling Communist Party. Its conclusion: reform and openness in this context resulted in a strengthened Chinese state, a weakened civil society (especially labor), and a delay in political liberalization.
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ASIN: 1572304898 |
Book Description
The stakes involved in development debates are enormous. While development can use the productive resources of society to improve the living conditions
of the world's most vulnerable people, it can also form the basis of intense manipulative power on behalf of elites. This important new text surveys the
leading theories and models of economic and social development. Chapters examine sociological,economic, neo-Marxist, poststructuralist, feminist, and
radical democratic approaches, as well as an array of development models including modernization, dependency, and neoliberalism. Reaching conclusions
at odds with much of the recent literature, this volume is critical of neoliberal, market-driven economic growth, arguing instead that an alternative,democratic form of development remains a viable possibility.
Book Description
As the Japanese economy languished in the 1990s Japanese government officials, business executives, and opinion leaders concluded that their economic model had gone terribly wrong. They questioned the very institutions that had been credited with Japan's past success: a powerful bureaucracy guiding the economy, close government-industry ties, "lifetime" employment, the main bank system, and dense interfirm networks. Many of these leaders turned to the U.S. model for lessons, urging the government to liberate the economy and companies to sever long-term ties with workers, banks, suppliers, and other firms.
Despite popular perceptions to the contrary, Japanese government and industry have in fact enacted substantial reforms. Yet Japan never emulated the American model. As government officials and industry leaders scrutinized their options, they selected reforms to modify or reinforce preexisting institutions rather than to abandon them. In Japan Remodeled, Steven Vogel explains the nature and extent of these reforms and why they were enacted.
Vogel demonstrates how government and industry have devised innovative solutions. The cumulative result of many small adjustments is, he argues, an emerging Japan that has a substantially redesigned economic model characterized by more selectivity in business partnerships, more differentiation across sectors and companies, and more openness to foreign players.
Customer Reviews:
Japan Is Changing, But In Distinctly Japanese Ways.......2006-09-15
Twenty years ago, Japanese management wall all the rage. Then came a long, protracted slump and attention turned elsewhere. Japan fell into oblivion. But while nobody took notice, an interesting thing happened. The Japanese model implemented its own transformation. It was remodeled into something new, but still distinctly Japanese. How this transformation occurred and what kind of new model came into being form the story of this book.
The Japanese traditional system differs from the liberal market model in important ways. It emphasizes the benefits of long-term relationships in labor, banking, and supplier relations. You have an active external labor market on the one hand, a lifetime employment system and a dual economy on the other. A market for corporate control dominated by shareholders' rights versus a main bank system and stakeholders governance. Free market entry and exit versus supplier networks. No model is intrinsically better, although the liberal model may be better adapted to a fast-changing economy at the technology frontier or to sectors where radical innovations occur, whereas the Japanese model has an institutional advantage in a catching-up phase or in sectors that rely on incremental improvements in production processes, such as automobiles and consumer electronics.
Contrary to what some expected, the Japanese model did not converge toward the U.S. one. Nor did it become an hybrid, although elements of flexibility were introduced at various levels. In fact, Vogel shows that liberal market reforms have very few natural advocates in Japan: even groups with the greatest apparent stake in liberalization, such as large manufacturing exporters or consumer associations, are reluctant to embrace reforms that might affect social stability or undermine relations with workers, financial institutions, other business partners, and the government. The Koizumi administration nevertheless succeeded in introducing important reforms, but with a distinctive policy pattern. Japanese authorities proceed with reforms slowly and cautiously; they package delicate compromises, including substantial compensation for those who might be disadvantaged by the reforms; they design reforms to preserve the core institutions of the model as much as possible; and they seek new ways to build on the strengths of existing institutions.
The remodeled Japan differs from the earlier version in at least three important ways. It is more selective: In the face of hard times, companies have become more discriminating in their Partnerships. They have reevaluated their long-term relationships with workers, banks, and other firms, and they have loosened some and tightened others. They have shifted from a reflexive acceptance of these partnerships to a more rational assessment of their costs and benefits. It is more differentiated: Companies have become more variable in their practices. There never was a uniform Japanese model that applied equally to all sectors and all companies, but the model has fragmented further. And it is more open: Japanese corporations have more foreign owners, managers, and business partners than ever before, and these foreign actors bring with them different practices and norms.
Apart from telling a compelling story, this book also distinguishes itself by its extensive use of the comparative case method. It compares patterns of institutional change across countries (Japan versus the United States and Germany), across policy issues (labor market reform versus financial reform, for example), across industrial sectors (automobiles versus retail), across companies (Toyota versus Nissan, etc.) and across time (Seiyu before and after allying with Wal-Mart). This variation across issue areas allows the author to test several hypotheses about the impact of reforms, with sometimes surprising results. The author's scholarship also spans across disciplines, and the result is a fine example of how political science can blend with business studies and institutional economics.
Book Description
Wealth inequity, corporate welfare, and industrial pollution are the symptoms of our sickened economy, Marjorie Kelly suggests. The underlying illness is shareholder primacy. In The Divine Right of Capital, she shows that the corporate drive to maximize shareholder profits at any cost is not only out of step with democratic and free-market principles, but is detrimental to the long-term health of individual companies and the economy as a whole. Kelly offers a far-reaching solution to rebuild corporations in a way that serves all.
Customer Reviews:
Thought Provoking and a Great Read.......2005-06-15
I highly recommend this book.
Personally I have stored my older books by Mises, Hayek, Friedman, etc...away in my basement. Although still on the shelf, even Adam Smith and Ricardo are a bit outdated. Others may still believe in their theories, but I do not. I am looking for someone who can put forth a plan for economic reform. Ideas that again value work and economic stability from which strong families and engaged citizens can emerge. The author does this.
Personally I have grown weary of the right wing, free market utopian dogma of the day. Besides being old and tired, it is largely a sham. As the author points out the defenders of the status quo would have us believe the current economic system is natural law, when in fact it is subject to change and reform.
Beyond the rhetoric, the truth is in your pay check. For many Americans each day is filled with hard work and economic insecurity. It is also a matter of liberty. If all one knows is work, sleep, and worry, you can know nothing of freedom.
In particular the author's suggestion that beyond the IPO, subsequent stock holders are little more than anonymous economic parasites is very intriguing.
Along with "Confessions of an Economic Hit Man" and the Alexander Hamilton bio, I found it to be one of the best non-fiction books I've read this year.
Essential reading.......2004-01-19
As much information as I absorb about our state of government, there are still some very broad assumptions which pass under my radar. This book shines a brilliant light on issues that are critically important for ANYONE who wishes to consider themselves 'informed'.
The most basic mythology exposed: that those who speculate have superior & perpetual rights over those who earn by labor. The bias in our mass media & legal institutions is so outrageous that at first it's difficult to accept just how deeply we are being bluffed.
I am now on my second reading. If you only read one nonfiction book this year (instead of the Wall Street fiction & PR positioned as fact) do yourself a huge favor & buy this book.
Necessary New Perspective.......2003-07-08
For anyone who's ever felt a disconnect between what they're hearing about the economy and what they're experiencing personally, Marjorie Kelly's book is very enlightening. She challenges some of the fundamental assumptions we hold about the stock market's role in the overall economy. Particularly in the context of current debates about corporate responsibility legislation and the privatization of Social Security, this book is very important. "The Divine Right of Capital" is a must-read for social justice activists and market conservatives alike as we all try to figure out what to do with this broken system in post-Enron America. Love them or hate them, the ideas Kelly offers up are innovative and groundbreaking.
Note: I've talked to a couple of more radical/anarchist/extreme whatever types who found this a little on the tame side because it's so darn grounded in reality. If you're really about tearing down the whole system (not my approach, but best of luck), there might be more satisfying extremist rants out there. For everyone else, read this now!
Unclear; Very Confused; Muddled Thinking.......2003-06-24
Wonderful example of how undisciplined, muddled thinking can create unsound arguments, based on invalid premises, that yield conclusions that will confirm one's biases. Perhaps in a follow-up book, the author will "prove" that the world is flat. An early mistake: She declares that it is (mostly) false that stockholders fund major public corporations, noting that shares trade in secondary markets. Accordingly, she draws the conclusion that there is no reason that corporations should maximize the interests of stockholders and minimize the interests of shareholders, and that it would be just as appropriate to put the interests of employees first. In fact, clear economic thinking reveals that successful corporations do make the interests of employees a high priority, because a corporation with unhappy employees has difficulty retaining employees, which makes for an unsuccessful company. Further, when a corporation raises capital, it often does so by means of a public offering of securities, which is really an agreement between the corporation and the stockholders where the stockholders give the corporation money in exchange for the right to an ownership interest in the corporation. Whether the shares stay in the hands of the original purchaser or whether the purchaser sells them in secondary markets is not germain; whoever holds the shares holds the right to the ownership interest, which may yield value through appreciation, sale or dividends. If you think her argument that it would be equally appropriate for a corporation to maximize payments to employees and minimize the interests of stockholders, just try this little exercise: Form a coproration and attempt to raise capital to run the corporation (including to pay employees). Then tell the potential investors of your plan to minimize value to stockholders. Then count how many of these potential investors actually invest their money in your corporation. (Hint: if you guessed more than zero, you're too high.)
For years I've been wondering.......2003-03-20
One of the many reasons why I loved this book was because it answered a question I have had for years: Long after the initial public offering, how does the money used to buy a share of stock become available to the company that issued the stock?
I read many books in the public press that aimed to explain stocks and bonds to the unknowing, but I could never find the answer to this question and decided that it was a dumb question.
The Divine Right of Capital begins with the answer to my question: A public company only gets capital from a share of stock once: when it initially issues the stock. Any further increase in the stock price goes only to speculators also known as stockholders.
These speculators provide needed liquidity but law stipulates that in return they get compensated inordinately to the detriment of the corporation and its employees.
I think that the author's arguments might win the day (despite the readiness of some reviewers here to dismiss them as the rantings of yet another leftist) if emerging companies choose to raise capital by means other than issuing public stock.
Meanwhile however, Supreme Court decisions giving corporations the rights of natural persons are ludicrous and I do not understand why saying this is enough to earn a person the label of hippie leftist.
Book Description
In this book, sociologist William I. Robinson offers a theory of globalization that follows the rise of a new capitalist class and a transnational state. Growing beyond national boundaries, this new class comprises a global system in which Japanese capitalists are just as comfortable investing in Latin America as North Americans are in Southeast Asia. Their development of global, interconnected industries and businesses make them drivers of world capitalism.
Robinson explains how global capital mobility has allowed capital to reorganize production worldwide in accordance with a whole range of considerations that allow for maximizing profit making opportunities. As a result, production systems that were once located in a single country have been fragmented and integrated externally into new globalized circuits of accumulation. What this means, however, is not simply that factories are located overseas where labor might be cheaper, but rather that the whole production process is broken down into smaller parts and each of those parts moved to a different country, depending on where investment might be highest. Yet at the same time, this worldwide decentralization and fragmentation of the production process has taken place alongside the centralization of command and control of the global economy in transnational capital.
In turn, this economic organization finds a political counterpart in the rise of a transnational state. The leaders of global businesses and industries think about themselves and how they live in new ways. Hegemony in the twenty-first century, Robinson argues, will be exercised not by a particular nation-state but by this new global ruling class through the machinery of this transnational state. Robinson observes, for example, that global elites, regardless of their nationality, increasingly tend to share similar lifestyles and interact through expanding networks of the transnational state. Globalization is in this way unifying the world into a single mode of production and a single global system and bringing about the integration of different countries and regions into a new global economy and society. But the new global capitalism is rife with contradictions, such as the growing rift between the global rich and the global poor, concludes Robinson. The twenty-first century is likely to harbor ongoing conflicts and disputes for control between the new transnational ruling group and the expanding ranks of the poor and the marginalized. Sure to stir controversy and debate, A Theory of Global Capitalism will be of interest to sociologists and economists alike.
Book Description
In a timely analysis of international events, including the 9/11 terrorist attacks and the "war against terrorism," Fidel Castro discusses issues of globalization and the growing phenomenon of global apartheid.
Customer Reviews:
History Will Absolve.......2006-05-09
With incredible wisdom, erudition and experience Castro touches on all the major issues of our time in this concise and spectacular book. Over 500 years of imperialism and exploitation against the Caribbean, South America and Central America are addressed. One consistent theme he constantly refers to is the need for solidarity amongst all of the Latin people of the Western Hemisphere.
Interesting sections of the book deal with the living standards in Cuba that have all gone in a positive, life-affirming direction since the ouster of Batista in the late 1950s and the onset of the revolution's socio-economic programs. Literacy rates, infant mortality, vaccinations, poverty levels, employment rates - in all of these categories the common Cuban folks are the envy of the rest of the Latin American masses who are gripped by incredible levels of poverty and crushing exploitation.
Fidel also includes insightful chapters expounding on the speculative global economy that has developed since Nixon's dismantling of the Bretton Wood system in the early 1970s. It's an economy that hinges on the machinations of international financiers making computerized currency trades in a matter of seconds. Castro alludes to its unsustainability since it's a system that has virtually nothing to do with the substantive manufacture of goods and services. Instead, daily by the minute currency speculation and financial bubbles dictate global capitalism. Of course along with addressing this relatively recent phenomenon the book also includes a fair critique of the FTAA.
Most interesting is a chapter consisting entirely of the speech Castro delivered to the International Conference on Racism in South Africa two weeks prior to the September 11th attacks. He admonishes the Israeli and United States attendees for thumbing their noses to the conference by walking out when Palestinian rights were broached.
It is books such as this magnificent offering by Ocean Press that will help keep the spirit and hope of the Cuban revolution alive for eternity. History will indeed absolve Fidel, his comrades, and all the other Latin American liberation movements for having the bravery and compassion for humankind to attempt to rid themselves of the neo-colonialism and maldevelopment that has been their lot.
One of the most important voices of our time.......2005-04-24
"War, Racism and Economic Injustice" is not a treatise on the title subject per se but rather is a collection of speeches delivered by Fidel Castro between January 2000 and November 2001. In these coherent and passionate presentations, Mr. Castro distinguishes himself as possibly the most important, if not most misunderstood, critic of globalization and an articulate spokesperson for the invisible poor of the Third World. Indeed, Mr. Castro's unique life experiences and demonstrated ability to persuasively speak truth to power definitively distinguishes him from all other current world leaders.
The opening chapter is an interview with Mr. Castro in which he condemns the U.S. political system as undemocratic inasmuch as it is controlled by mega corporations, who have imposed "apartheid throughout the world" through the imposition of an unjust economic order. Mr. Castro goes on to credit the Cuban people for their durability in surviving the illegal U.S. economic embargo and the collapse of the Soviet Union, and asks for the forgiveness of debt on behalf of the poor nations of the world. Throughout the interview, Mr. Castro reveals myriad aspects of his personality, including intellectualism, humanitarianism, self-confidence and humor.
The following 14 speeches are delivered on a range of topics delivered at major cities including the United Nations, Harlem, Caracas, Panama City, Quebec, South Africa and of course, Havana. Reading the content of these speeches, one is impressed with Mr. Castro's ability to deliver relevant content that could not have failed to resonate with their diverse audiences. While Mr. Castro often supports his statements with thorough research and consistently presents a well-reasoned, cogent argument, the urgency of his still-revolutionary message fairly leaps off the page.
One of the key themes articulated by Mr. Castro is the problem of capitalist consumer culture and the unequal distribution of resources which in turn is leading the world inexorably towards environmental, social and economic disaster. Mr. Castro astutely connects the historic abuse and slavery of indigenous peoples and imperialism with the impoverishment of the citizens of the Third World today. Cuba's embrace of socialism and its successes with respect to education, health care and democracy are compared favorably with the fate of many others who have been suffering from the ill effects of globalization, including the poor of the industrialized nations and a growing class of impoverished people living within the U.S. and Europe. In my view, it is ironic that Mr. Castro's message contains many truths about what may need to be done to create a sustainable and just world economy that would help guarantee prosperity for all, although it is often the case that opinion leaders in the wealthy nations attempt to discredit him and his ideas.
For example, the final two speeches on the U.S. war on terrorism are noteworthy for their insight into current events and how all nations might collectively work together to resolve difficult issues. Delivered mere weeks after the attacks of September 11, 2001 Mr. Castro's keen political observations have proven to be prescient, including the attribution of fanaticism to both the Islamic fundamentalists and U.S. leadership, as well as his prediction that George W. Bush would probably use the crisis to further an extreme right-wing political agenda. However, Mr. Castro displays considerable statesmanship by opposing both terrorism and war, saying that "thinking and conscience can be stronger than terror and death" and calling for peace and international cooperation to help resolve differences between nations.
I encourage everyone to read this remarkably thought-provoking and inspiring book written by one of the most important voices of our time.
not hard to believe & easy to read.......2004-12-20
I enjoyed most of this book - it started to get old towards the end because Castro recycles material from earlier speeches. Nevertheless, I would recommend this book to anyone.
Hard to Read harder to Believe.......2004-10-05
Fidel Castro Lover of Humanity? This book is a poor excuse for a bad propaganda piece. Castro rails at capitalism but refuses to point the finger at the real culprit of Cuba's economic demise (himself). Only some lunatic and blind socialist could read this book without bending over from laughter or being totally revolted. Those who still believe Castro' or his revolution are anything but an abject failure or a crime against humanity will undoubtedly enjoy this trash. His statistics are not independently corrobarated, but that won't matter to any good socialist.
Fine survey of world's problems and their cause - capitalism.......2004-07-06
This book contains a selection of Fidel's speeches given between June 2000 and November 2001. A portrait of a great and humane man emerges from these pages. He addresses a remarkable variety of subjects, but always links them to their root cause, our continued tolerance of the unjust and unworkable economic disorder that is capitalism.
He defends Cuba's exceptional achievements in the fields of health and education, pointing out that in Cuba life expectancy is remarkably high. He upholds Cuba's democracy as more full and just than the parliamentary democracy that we increasingly reject.
He notes that more Cuban doctors and health workers are providing free medical services in Third World countries than at any previous time. They are training 5000 Latin American medical students to become doctors in Latin America. Cuban doctors have set up medical schools in Gambia and Equatorial Guinea to educate doctors to live and work in Africa, not to poach them, as the Blair government does. Cuban doctors are working to assist African countries to cope with the devastations of AIDS.
War, terrorism and economic crisis are all born of an unsuccessful and unsustainable political and economic order. Fidel deplores the fact that the US government holds the sole veto power in the IMF and the World Bank, which prevents these bodies from being changed from tools of destruction. Fidel asserts that theft of resources and of capital from Third World countries equals genocide, and looking at the huge numbers of unnecessary child deaths in those countries, one can only agree.
He warns against recourse to war as a solution to problems. Instead, he proposes that the UN Security Council, an executive body, should be subordinated to the democratic legislature of the General Assembly.
On the Middle East crisis, he points out that in 2001 the US government vetoed a draft resolution for setting up observers to protect the Palestinian people, and Blair's representative abstained! Since 1972, there have been 23 US vetoes on Resolutions aimed at solving the crisis there. The US alone blocks the two-state solution that the rest of the world demands.
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