Just a few years is all it took for the debt crisis to bring down the mighty 'twin towers' of American and European capitalism and undo two centuries of Western dominance on the world's economic and political stage. Daniel Pinto offers a unique insight into how the East is winning the battle for...

The collapse that began in 2008 continues to burden the world economy. David Kotz, one of the few academic economists to predict it, argues that the ongoing crisis is not simply the aftermath of financial panic and severe recession but is a structural crisis of neoliberal capitalism whose...

Biographical note: Christopher McMahon is Professor of Philosophy at the University of California, Santa Barbara, and author of Reasonable Disagreement: A Theory of Political Morality, Collective Rationality and Collective Reasoning, and Authority and Democracy: A General Theory of Government...

Why has capitalism produced economic growth that so vastly dwarfs the growth record of other economic systems, past and present? Why have living standards in countries from America to Germany to Japan risen exponentially over the past century? William Baumol rejects the conventional view that...

Main description: In 1974, Maurice Zeitlin published a seminal article in The American Journal of Sociology, criticizing managerial theory and evidence, which ended one era in the analysis of the large corporation's ownership and control and began a new one. He called for research on the...

Main description: Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and...

Main description: The obrajes, or native textile manufactories, were primary agents of developing capitalism in colonial Mexico. Drawing on previously unknown or unexplored archival sources, Richard Salvucci uses standard economic theory and simple measurement to analyze the obraje and its...

Main description: Beginning with the nationalized British coal industry and then raising more general issues concerning the contemporary state, Joel Krieger studies the day wage structure for face workers (National Power Loading Agreement) introduced by the National Coal Board in 1966, its...

Main description: Florencia E. Mallon examines the development of capitalism in Peru's central highlands, depicting its impact on peasant village economy and society. She shows that the region's peasantry divided into an agrarian bourgeoisie and a rural proletariat during the period under...

Frontmatter -- Preface -- Contents -- I. Middle East Economy PROGRESS, PROBLEMS, AND PROSPECTS -- II. Historical Analogies and Middle East Economic Development -- III. Reflections on Entrepreneurship -- IV. Cyprus: THE "COPRA-BOAT" ECONOMY -- V. Turkish Land Reform: AN EXPERIMENT IN MODERATION...