Capitalism, Alone

The Future of the System that Rules the World

By: Branko Milanovic

Narrated by: Bob Souer

Length: 8 hrs and 37 mins

Publisher's summary

We are all capitalists now. For the first time in human history, the globe is dominated by one economic system. In Capitalism, Alone, leading economist Branko Milanovic explains the reasons for this decisive historical shift since the days of feudalism and, later, communism. Surveying the varieties of capitalism, he asks: What are the prospects for a fairer world now that capitalism is the only game in town? His conclusions are sobering, but not fatalistic. Capitalism gets much wrong, but also much right - and it is not going anywhere. Our task is to improve it.

Milanovic argues that capitalism has triumphed because it works. It delivers prosperity and gratifies human desires for autonomy. But it comes with a moral price, pushing us to treat material success as the ultimate goal. And it offers no guarantee of stability. In the West, liberal capitalism creaks under the strains of inequality and capitalist excess. That model now fights for hearts and minds with political capitalism, exemplified by China, which many claim is more efficient, but which is more vulnerable to corruption and, when growth is slow, social unrest. As for the economic problems of the Global South, Milanovic offers a creative, if controversial, plan for large-scale migration.

©2019 the President and Fellows of Harvard College (P)2019 Tantor

new perspective

the author has a deep understanding of the subject and offers new ideas... what I'm looking for in a book, really.

No pdf of figures

Unfortunately, there is no pdf of figures and tables. This is unacceptable for a book of this kind.

Comprehensive assessment of Capitalism

This book offers a comprehensive and clear eyed assessment of the role of Capitalism and the effects it has on the world. Milanovic provides thorough research throughout this work, drawing from sources as diverse as Karl Marx, Adam Smith, and John Rawls. The academic rigor of this book requires focus and concentration by the reader, but it is worth the effort needed to follow it well.

Milanovic describes two major types of Capitalism in operation today: the liberal Capitalism practiced by the (nominally) democratic West, and authoritarian Capitalism such as that practiced in China. The author also speculates on the likelihood of other manifestations of Capitalism that may become more prominent in the future. One such possibility is where everyone is an individual Capitalist, in an atomized society where every worker is also an owner—the current gig economy is a step toward that (e.g. those providing their own cars for work with Uber or Lyft).

One theme throughout the book is that Capitalism is the only system left standing—without a competitor anywhere on the horizon. This may be reminiscent of "There is no alternative," but it seems different in character from the Thatcher expression TINA. Milanovic aptly observes that Communism in the pure Marxist sense has rarely been implemented—similarly the word "socialism" has not been widely used in its Marxist meaning. Milanovic further reasons that Marxist Communism cannot occur in the future, as it relies on the existence of manufacturing labor in conflict with pure Capitalist owners—and both are in decline today.

Milanovic does not come to a firm conclusion regarding whether Capitalism as it is evolving will be able to correct the extreme inequality that currently exists. But the author does leave room for hope that economic forces may force its hand to that effect—let's do all we can to make that a reality.

Don't waste your money or time on this dribble. Th

I started off giving this book as objective a listen as possible. I was hoping, it would be a book which was fair and balanced. unfortunately, it turned out to be socialistic propaganda in disguise of capitalism.

The author has absolutely no concept of the full implications of his assertions. anyone hoping for a read based on objective factors is going to be utterly disappointed. aside from the fact the author simply asserts hypothetical situations as facts and then proceeds to elaborate based on those assertions, there is nothing factual in this material upon which the author bases his claims.

unfortunately, it's just another pile of dribble based on the assumption a distribution of wealth Will solve all of the socioeconomic woes of which he complains. at the very least, I might be able to save others from wasting their time, money and effort.