Synopses & Reviews
Radical politics have been defined in modern times-and distinguished from earlier traditions of protest-by the idea that economic, social and political structures are contradictory. Systems of exploitation create not only wealth and prosperity for the powerful, but at the same time bring into being the forces which ensure their own eventual downfall. But it is a large step from the general assertion that social forms contain their own contradictions to analysis of the specific contradictions which occur in a given historical context, their interaction and movement, and their possible historical outcomes.
This collection of essays examines social contradictions in the age of globalization in which old antagonisms often appear to be overcome, and new cracks are emerging in the facade of capitalist progress. Where do they occur? Where can they be expected to appear in future? How can they be grasped in a spirit of sober radicalism, which neither accepts the limits of the present nor overcomes them through wishful thinking alone? What possibilities do they offer for mobilizing resistance? These issues define an agenda which is critical for socialism in our time.
Contributors to this volume are especially concerned with capitalism as a global system today, dependent on the strength of the U.S. economy and currency and on global financial institutions such as the World Bank capable of carrying out the capitalist agenda. They provide a timely and critical analysis of what big corporations want and of the problems their agenda creates for their own continued dominance and prosperity.
Contributors include: Jim O'Connor, Ellen Wood, Gerard Dumenil, Aijaz Ahmad, Naomi Klein, Mino Carchedi, Reg Whitaker, Peter Golding and Graham Murdock, Mike Kidron, David Harvey, Pablo Gonzalez-Casanova, Elmar Altvater, Paul Cammack.
Synopsis
In this volume, Nobel Laureate James Meade discusses a set of radical changes in economic institutions and policies designed to show an efficient, socially acceptable third alternative between Keynesian inflation and monetarist unemployment, and between the inefficiencies of socialist centralism and the ravages of unrestrained capitalist competition. According to Meade, these changes should aim at allowing freedom of individual choice (liberty), producing a high standard of living (efficiency) and avoiding excessive divergences between riches and poverty (equality).
But there are inevitably clashes between these objectives. For example, free competition may promote liberty and efficiency but will offer high rewards to the owners of scarce resources and low rewards to those who command little earning power, resulting in the denial of equality. The author suggests a set of reforms which could mitigate the effects of such clashes. Such a review of institutions is highly relevant in the present age of social uncertainties. For example, on what lines should the post-communist economies of Eastern Europe be rebuilt? Can we avoid the stark choice between the inflation of Keynesianism and the unemployment of monetarism? Can the ravages of free capitalist competition be avoided without the inefficiencies of centralized economic planning?
Including an extensively revised version of Meade's well- known tract, Agothopia: The Economics of Partnership, Liberty, Equality, and Efficiency will be of interest to both economists and political scientists.
About the Author
J. E. Meade is Emeritus Professor of Political Economy at the University of Cambridge. From 1947 to 1957 he was Professor of Commerce at the London School of Economics, producing the work in international trade and payments for which he was awarded the Nobel Prize in 1977. Since 1957, he has worked in Cambridge as Professor of Political Economy, as Senior Research Fellow at Christ's College, and finally in retirement where he has produced studies on a wide range of topics including economic growth, fiscal policy, distribution of income and wealth, and the control of wages and prices.