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Capitalism and Its Critics

A Battle of Ideas in the Modern World

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Brought to you by Penguin.

A sweeping history of capitalism as seen through the eyes of its fiercest critics

At a time when we are faced with fundamental questions about the sustainability and morality of the economic system, Capitalism and Its Critics provides a kaleidoscopic history of global capitalism, from colonialism and the Industrial Revolution to the ecological crisis and artificial intelligence.

John Cassidy adopts a bold new approach: he tells the story through the eyes of the system’s critics. From eighteenth-century weavers who rebelled against early factory automation to Eric Williams's paradigm-changing work on slavery and capitalism, to the Latin American dependistas, the international Wages for Housework campaign of the 1970s, and the modern degrowth movement, this absorbing narrative traverses the globe. It looks at familiar figures – Smith, Marx, Luxemburg, Keynes, Polanyi – from a fresh perspective, but also focuses on many less familiar, including William Thompson, the Irish proto-socialist whose work influenced Marx; Flora Tristan, the French proponent of a universal labour union; John Hobson, the original theorist of imperialism; and J. C. Kumarappa, the Indian exponent of Gandhian economics.

Blending biography, panoramic history, and lively exploration of economic theories, Capitalism and Its Critics illuminates the deep roots of many of the most urgent issues of our time.

©2024 John Cassidy (P)2024 Macmillan Audio

 Economic History Economics Historical Politics & Government Theory Capitalism Imperialism Socialism Colonial Period Taxation Africa Latin American Economic Inequality
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Capitalism and Its Critics: A Battle of Ideas in the Modern World, by John Cassidy, is an ambitious and impressively accessible survey of the long intellectual struggle over capitalism’s moral, economic, and social legitimacy. Rather than offering a defence or a demolition of capitalism, Cassidy sets out to map the terrain of its critics, from early moral philosophers and social reformers to Marxists, Keynesians, environmentalists, and contemporary sceptics of neoliberalism, showing how each emerged from specific historical pressures and anxieties.

One of the book’s great strengths is its balance. Cassidy treats his subjects with seriousness and sympathy, even when he ultimately disagrees with them. He is particularly good at identifying the internal tensions and blind spots in many critiques of capitalism, noting where critics underestimated capitalism’s adaptability, overestimated the coherence of their own alternatives, or ignored uncomfortable trade-offs. At the same time, he avoids complacency: a recurring theme is that many older criticisms, about inequality, instability, financial excess, and the corrosive effects of markets on social life, remain stubbornly relevant today, even if their original formulations now feel dated.

The book’s panoramic scope is another major asset. Cassidy moves fluently across centuries, disciplines, and geographies, and he devotes real attention to figures who rarely appear in mainstream accounts of political economy. The chapter on J. C. Kumarappa, for example, stands out as a thoughtful exploration of a Gandhian, anti-industrial critique of capitalism that feels strikingly contemporary in an age of climate anxiety and debates about sustainable development. Throughout, Cassidy’s clear prose and journalistic instincts make complex ideas readable without flattening them.

Overall, Capitalism and Its Critics succeeds as both intellectual history and contemporary diagnosis. It does not pretend that capitalism has a single fatal flaw or a single silver-bullet alternative. Instead, it shows that capitalism has always been shaped, and often improved, by its critics, even when those critics were wrong in important ways. For readers looking for an accessible, nuanced, and historically grounded account of why capitalism remains so contested, this is an excellent place to start.

An Even-Handed History of Capitalism’s Critics

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strong work from New Yorker writer. he is always good and this book is no different

cassidy is always good

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Although I knew a lot of the names and the gist of their ideas it was very helpful to have them gathered together as a foundation to introduce newer economic models and their authors along with hindsight to put things into perspective.
Overall a fascinating listen with a well chosen narrator.

Fascinating look back through history

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This is a dull catalogue of leftist anti-capitalists which is right on, PC, woke and not well read. Doubtless some people will love it though I couldn't wait for the ordeal to end.

Low Marx

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