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Modern economics does not explain capitalism. Quite the reverse: both introductory texts and advanced scholarship presuppose capitalism as a universal, natural entity.
Capitalist Economics is the first and only book to attempt this essential explanation. This involves, first, showing how capitalist economic forces are historically unique. Under feudalism, economic forces and relations work differently than under capitalism. Second, it requires a close analysis of the primary elements of capitalist economics: money, commodities, and profit. Third and finally, it entails close examination of the complex interactions between entrepreneurs, bankers, and workers, all to give a clearer sense of the dominant forces and general patterns of capitalist economics.
List of contents
- Preface
- Introduction: What is Economics?
- Part I: Economics in History
- 1. Social Orders and Economic Relations
- 2. How Societies Produce
- 3. Capitalist Social Orders
- Part II: Capitalist Economic Relations
- 4. Money
- 5. Commodities
- 6. Profit
- Part III: Capitalist Economic Forces
- 7. Entrepreneurs and Investment
- 8. Bankers and Interest
- 9. The Rules of Capitalism
- Sources and Further Reading
- Glossary of Terms (by Benjamin Taylor)
About the author
Samuel A. Chambers teaches political theory, cultural politics, and political economy at Johns Hopkins University. He is co-Editor-in-Chief of the journal Contemporary Political Theory and is series co-editor of Routledge's Innovators in Political Theory. He has published or edited a dozen books, in work that ranges from theories of society, language, and democratic politics, to critical television studies, to a broad and concerted effort to understand the nature of both capitalism and money.
Summary
Capitalist Economics introduces and explains the basic economic forces that shape the present and structure the future of capitalist societies today. Rejecting the idea that economics is a universal science of "choice" or the "efficient allocation of scarce resources," this book analyzes economic forces and relations as essential elements of a broader society. This entails understanding "the economic" as a logic that always operates alongside cultural, political, and social forces. As well, it requires grasping the economic as itself a product of historical development. This book explores the unique economic pressures found in capitalist societies, offering detailed yet concise analysis of basic concepts - commodities, money, exchange, interest - and investigating broader issues such as the source of profit, the nature of growth, and the role of technology and invention. Written for political scientists, sociologists, philosophers, cultural studies scholars, and beyond, the book is a completely new way of grasping socio-economic relations.
