The Cancer Stage of Capitalism is a modern classic of critical philosophy and political economy, renowned for its depth and comprehensive research. It provides a step by step diagnosis of the continuing economic collapse in the US and Europe and has had an enormous influence on new visions of economic alternatives.

John McMurtry argues that our world disorder of unending crises is the predictable result of a cancerous economic system multiplying out of all control and destroying ecological, social and organic life - a process he describes as 'global ecogenocide'. In this updated edition he explains the ‘social immune response’ required to fight the ‘macro cancer’, something which has already been shown in developments such as the Occupy movement and the democratic social transformation of Latin America.

In an official global culture increasingly destructive of life, this book shows the necessity and possibility of building a sustainable society based on a universal commitment to life and nature.

A New York Times Bestseller
An NPR Best Book of the Year

The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system.

Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.

Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.

Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.

A New York Times #1 Bestseller
An Amazon #1 Bestseller
A Wall Street Journal #1 Bestseller
A USA Today Bestseller
A Sunday Times Bestseller
A Guardian Best Book of the 21st Century
Winner of the Financial Times and McKinsey Business Book of the Year Award
Winner of the British Academy Medal
Finalist, National Book Critics Circle Award

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.

Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—today threatens to generate extreme inequalities that stir discontent and undermine democratic values. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again.

A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century reorients our understanding of economic history and confronts us with sobering lessons for today.

A New York Times #1 Bestseller
An Amazon #1 Bestseller
A Wall Street Journal #1 Bestseller
A USA Today Bestseller
A Sunday Times Bestseller
A Guardian Best Book of the 21st Century
Winner of the Financial Times and McKinsey Business Book of the Year Award
Winner of the British Academy Medal
Finalist, National Book Critics Circle Award

“It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year—and maybe of the decade.”
—Paul Krugman, New York Times

“The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat.”
—The Economist

“Piketty’s Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years.”
—Steven Pearlstein, Washington Post

“Piketty has written an extraordinarily important book…In its scale and sweep it brings us back to the founders of political economy.”
—Martin Wolf, Financial Times

“A sweeping account of rising inequality…Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore.”
—John Cassidy, New Yorker

“Stands a fair chance of becoming the most influential work of economics yet published in our young century. It is the most important study of inequality in over fifty years.”
—Timothy Shenk, The Nation

Between 1951 and 1962 nearly ten billion dollars in long-term capital (both direct investment and purchase of securities) flowed into Canada. This massive amount represented one third of all long-term capital moving among industrial nations. Its transfer marked the first time since before World War I that the world witnessed such a large-scale international movement of capital motivated primarily by a prospect of higher rates of return.

In Capital Transfers and Economic Policy the authors test the theory of the causes and effects of international capital movements against the evidence drawn from Canada's experience. They explore Canada's adjustment to capital flows and show how the operation of her economic policy is affected by the sensitivity of capital flows to the country's interest rates and foreign-exchange rate.

Their brilliant analysis is particularly valuable in light of current trends in capital flows among industrial nations and the June 1970 return of the Canadian dollar to a flexible exchange rate, which put the economy in a working situation similar to that of the fifties.

A wide-ranging examination of how policies, parties, and labor strength affect inequality in post-industrial societies.

Not all countries are unequal in the same ways or to the same degree. In Challenging Inequality, Evelyne Huber and John D. Stephens analyze different patterns of increasing income inequality in post-industrial societies since the 1980s, assessing the policies and social structures best able to mitigate against the worst effects of market inequality. Combining statistical data analysis from twenty-two countries with a comparative historical analysis of Germany, Spain, Sweden, and the United States, Huber and Stephens identify the factors that drive increases in inequality and shape persistent, marked differences between countries. Their statistical analysis confirms generalizable patterns and in-depth country studies help to further elucidate the processes at work.

Challenging Inequality shows how the combination of globalization and skill-biased technological change has led to both labor market dualization and rising unemployment levels, which in turn have had important effects on inequality and poverty. Labor strength—at both the society level and the enterprise level—has helped to counter rising market income inequality, as has a history of strong human capital spending. The generosity of the welfare state remains the most important factor shaping redistribution, while the consistent power of left parties is the common denominator behind both welfare state generosity and human capital investment.

Simon Pirani investigates the interaction of power, money and people in Russia during the presidencies of Vladimir Putin and his successor Dmitry Medvedev.

Profiling the Putin team, including contingents from the security services and pro-market economic "reformers", Pirani argues that the economic growth it presided over during the oil boom was one-sided. The gap between rich and poor widened. Now the boom is over, inequalities will multiply further. As well as explaining Russia's economic trajectory, the book provides a unique account of the social movements that are working against an increasingly authoritarian government to change Russia for the better.

This is the perfect introduction for undergraduates approaching Russia for the first time and those who wish to know how Russia will change during the economic crisis.

When Deng Xiaoping launched China on the path to economic reform in the late 1970s, he vowed to build “socialism with Chinese characteristics.” More than three decades later, China’s efforts to modernize have yielded something very different from the working people’s paradise Deng envisioned: an incipient kleptocracy, characterized by endemic corruption, soaring income inequality, and growing social tensions. China’s Crony Capitalism traces the origins of China’s present-day troubles to the series of incomplete reforms from the post-Tiananmen era that decentralized the control of public property without clarifying its ownership.

Beginning in the 1990s, changes in the control and ownership rights of state-owned assets allowed well-connected government officials and businessmen to amass huge fortunes through the systematic looting of state-owned property—in particular land, natural resources, and assets in state-run enterprises. Mustering compelling evidence from over two hundred corruption cases involving government and law enforcement officials, private businessmen, and organized crime members, Minxin Pei shows how collusion among elites has spawned an illicit market for power inside the party-state, in which bribes and official appointments are surreptitiously but routinely traded. This system of crony capitalism has created a legacy of criminality and entrenched privilege that will make any movement toward democracy difficult and disorderly.

Rejecting conventional platitudes about the resilience of Chinese Communist Party rule, Pei gathers unambiguous evidence that beneath China’s facade of ever-expanding prosperity and power lies a Leninist state in an advanced stage of decay.

The rise of China as a great power is one of the most important developments in the twenty-first century. But despite dramatic economic progress, China’s prospects remain uncertain. In a book sure to provoke debate, Minxin Pei examines the sustainability of the Chinese Communist Party’s reform strategy—pursuing pro-market economic policies under one-party rule.

Pei casts doubt on three central explanations for why China’s strategy works: sustained economic development will lead to political liberalization and democratization; gradualist economic transition is a strategy superior to the “shock therapy” prescribed for the former Soviet Union; and a neo-authoritarian developmental state is essential to economic take-off. Pei argues that because the Communist Party must retain significant economic control to ensure its political survival, gradualism will ultimately fail.

The lack of democratic reforms in China has led to pervasive corruption and a breakdown in political accountability. What has emerged is a decentralized predatory state in which local party bosses have effectively privatized the state’s authority. Collusive corruption is widespread and governance is deteriorating. Instead of evolving toward a full market economy, China is trapped in partial economic and political reforms.

Combining powerful insights with empirical research, China’s Trapped Transition offers a provocative assessment of China’s future as a great power.

This book situates John Locke’s philosophy of knowledge and his political theory within his engagement in British monetary debates of the 17th and 18th century.

Anchored in extensive archival research, George Caffentzis offers the most expansive reading of Locke’s economic thought to date, contextualizing it within the expansion of capitalist accumulation on a world scale and the universality of money as a medium of exchange.

Updated with a new introduction by Paul Rekret, a new foreword by Harry Cleaver and new material by the author, Clipped Coins, Abused Words, and Civil Government continues to make a significant intervention in contemporary debates around the history of capitalism, colonialism and philosophy.

Commonwealth, when first published in 1947, was a pioneer effort to investigate the historical role of government in the American economy. It revealed for the first time the importance of political action in the development of the American free enterprise system. The present edition has been revised by the authors to take into account the research of the past two decades. Focusing on Massachusetts as a key state, Oscar and Mary Flug Handlin describe the changes in the ways the government dealt with the economy from the period of independence to the Civil War, and they analyze the social groups whose interests and ideas influenced the character of those changes.

The Handlins have re-examined both their original conclusions and the procedures by which they arrived at their formulation of the problem. They have not found it necessary to make substantial textual revisions, for both their research methods and their conclusions have stood the test of time, and their basic concepts have already been incorporated into the literature. However, they have made stylistic changes and have drastically altered their documentation, rigorously pruning the old footnotes and incorporating into the new notes important recent books and articles which treat the political and economic history of the period and the local history of the stale.

There are two significant additions to the book: a new preface and a new appendix that explain the theoretical framework through a description and demonstration of the change in the authors’ attitude and focus during the course of their original research.

This revision of Commonwealth is as cogent as the original edition, more useful to scholars because of its incorporation of the latest scholarly literature, and, as a result of the reduction in documentation, more attractive to the general reader.

For the most part, competition policy literature has focused on large economies. Yet the economic paradigms on which such policies are based do not necessarily apply to small market economies. This book demonstrates that optimal competition policy is very much dependent on the size of an economy. Whether and how firms compete is a matter of the natural conditions of the markets in which firms operate. A critical feature of small economies is the concentrated nature of many of their markets, which are often protected by high entry barriers. Competition policy must be designed to deal effectively with these unique obstacles to competition. Accordingly, applying the same competition policy to all economies alike may be contrary to the policy's goals.

Michal Gal's thorough analysis shows the effects of market size on competition policy, ranging from rules of thumb to more general policy prescriptions, such as goals and remedial tools. Competition policy in small economies is becoming increasingly important, since the number of small jurisdictions adopting such policy is rapidly growing. Gal's focus extends beyond domestic competition policy to the evaluation of the current trend toward the worldwide harmonization of policies. This book will provide important guidance to academics, policy makers, and practitioners of competition policy as well as to anyone interested in the globalization of competition laws.

The du Ponts, one of the most powerful families in American industry, actively fought the policies that gave government more and more power over the economy. It was not centralization they opposed—indeed, the New Deal initially gained their favor because it appeared to promise a “corporate state” administered along the same lines as a business organization—but the sharing, or brokering, of power among various political interests. If government was to direct the economy, they felt, it should be in the hands of proven business leaders such as themselves.

The du Pont brothers and their close colleague, John Raskob, first tried their hand at political action by waging a campaign against prohibition, which they said intruded upon the liberty of all citizens, raised taxes, and hampered the economy. It was this issue, and the management of public schools, that prompted the industrialists to propose business-style administrative bodies in government. To further this goal the du Ponts became increasingly active in the Democratic Party, especially the presidential campaigns from 1928 to 1940.

With the repeal of prohibition and the creation of the National Recovery Administration, the New Deal at first looked promising to the du Ponts. But they contested the emerging broker state—one that legitimated the rival claims of competing interests and maintained dual structures of public and private economic governance—of the late 1930s. When the chance for national political management by a private, centralized industrial hierarchy and corporatism failed to gain a hold in the American polity, the du Ponts joined forces with the opposition. They backed the supposedly nonpartisan Liberty League with the intention of organizing a grass-roots protest of the incursion of government into peoples’ lives and the increasing power of the executive branch. But the League received little popular support and survived only by the contributions of disaffected business leaders.

Throughout these turbulent years the du Ponts kept up an active correspondence; rarely does the historian have access to such extensive personal as well as official records. By focusing on one family’s contribution to the economic and political debate between the world wars, Robert Burk casts light on the changing fortunes of business and government in twentieth-century America. In so doing, he modifies some of our popular conceptions about the 1920s and 1930s.