Rethinking Capitalism

The Political Quarterly is pleased to announce the launch of the new PQ book Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth, edited by Michael Jacobs and Mariana Mazzucato. The book brings together leading economists to challenge orthodox ideas about economic theory and policy, and to propose new approaches to achieving a more inclusive and sustainable economy. The contributors analyse the realities of contemporary capitalism and the failure of current economic policies to encourage innovation, investment and long-term growth, to tackle climate change, or to achieve an equitable distribution of income and wealth. It's a powerful examination of both modern economies and economic theory. The authors include Joseph Stiglitz, Andrew Haldane, Carlota Perez, Mariana Mazzucato, William Lazonick, Colin Crouch and Stephany Griffith-Jones, and the editors have written a compelling Introduction. This is now freely available to read here. Some reviews of the book are gathered below.

Subscribers to The Political Quarterly will receive a copy as part of their subscription, whether in print or online. For others the book is available at a 20% discount from the publishers Wiley Blackwell - just click here.

Reviews of Rethinking Capitalism:

“With the rise of populist protest movements across the west, the hard realities of stagnating real wages and entrenched inequality, it is plain that modern capitalism is not working. A new theoretical and policy roadmap is urgently needed. Rethinking economics is an invaluable contribution to the challenging tasks ahead.”
Will Hutton, Principal of Hertford College, University of Oxford, and author of The State We’re In

"We badly need fresh thinking in the world of economic policy making today - and this book offers a plethora of provocative ideas. It tackles numerous sacred cows in a lively and provocative manner and challenges our assumptions. It is thus a very valuable and welcome contribution to the current debate about why so many western economies have performed poorly since the great crisis.”
Gillian Tett, Financial Times

"A fine collection of chapters by leading progressives on what went wrong - low growth, flagging investment and innovation, too few jobs and too much carbon - and what might be done. May it close the door on the failed "mainstream" and open another, toward a fully-integrated, uncompromising, radical view of economics and economic policy."
James K. Galbraith, Lloyd M. Bentsen, Jr. Professor in Government and Business Relations, University of Texas at Austin, and author of The New Normal: The Great Crisis and the Future of Growth

"The economies of developed countries face profound problems, including congested and polluted cities, deep inequalities, marginalisation of large segments of the population and sluggish growth. And the next twenty years will have to see severe cuts in greenhouse gas emissions if we are to have any serious chance of avoiding dangerous climate change. Economic policy must change radically and quickly if we are to tackle these deep and inter-related problems. That means, in turn, a deeper understanding of the workings of our capitalist system. This book is a very valuable and thoughtful contribution to these crucial tasks."
Lord Nicholas Stern, IG Patel Professor of Economics and Government at the London School of Economics, and author of The Economics of Climate Change: the Stern Review

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