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Capitalism's Toxic Assumptions Audiobook by Eve Poole
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Title: Capitalism's Toxic Assumptions
Subtitle: Adam Smith's Seven Deadly Sins
Author: Eve Poole
Narrator: Christopher Oxford
Format: Unabridged
Length: 6 hrs and 4 mins
Language: English
Release date: 03-26-15
Publisher: Audible Studios for Bloomsbury
Ratings: 3 of 5 out of 4 votes
Genres: Nonfiction, Economics
Publisher's Summary:
In science no one believes the Earth is flat anymore. Economists, on the other hand, haven't budged from their original worldview. Market capitalism depends on seven big ideas: competition, the "invisible hand", utility, agency theory, pricing, shareholder value, and limited liability. These served the world well in the past, but over the years they have become cancerous and are slowly killing the system as a whole.
Eve Poole argues that if you zoom in on any of these firm foundations, they start to blur and wobble. Here she offers alternative views for a healthier system. And looking at them together, it becomes clear why we're so stuck. The capitalist system masquerades as a machine programmed by experts, with only economists and governments qualified to tinker with it. But the market is just a mass of messages about supply and demand. The rich world shapes the market in its image because it has more "votes". So if we want to change the way things are, we don't need to wait for the experts; we can start now.
In each chapter Poole shows how quiet action by consumers, investors, employees, and employers can make big changes by shifting behaviors and adjusting the way financial "votes" are cast in the market.
Members Reviews:
A Roadmap to protect against another collapse
In 2008 when the Queen spoke to academics at the London School of Economics about the turmoil on the business markets she famously asked "Why did nobody notice it?" The massed ranks of mainly male economists were unable to answer her question. Seven years later despite many worthy books on the financial crisis the worlds community of economists remains incapable of using the evidence of the past to reliably provide any assurance to protect our future from another collapse.
Until now. Along has come Dr Poole with a comprehensive reassessment of the flaws in modern capitalism and with a road map to guide the profession away from its worst ills. She has had the nerve (and intellect) to look at the fundamental laws of the dismal science and question them in the light of modern evidence derived from psychology and moral philosophy - remembering always that Adam Smith, the father of the invisible hand, wasnt an economist but was a moral philosopher whose work was taken up and interpreted by economists after he was dead when he couldnt easily answer back.
Her conclusions about co-operation and not selfishness being a key aspect in the success of business enterprises should find support from Matt Ridley whose TED talk https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CCQQyCkwAA&url=http%3A%2F%2Fwww.ted.com%2Ftalks%2Fmatt_ridley_when_ideas_have_sex%3Flanguage%3Den&ei=VfYgVce1OZDPaI-WgeAC&usg=AFQjCNEKToSGP_cOsilmEFltGsYfXaPwAA&sig2=XReqPeu4XFU9bpQD34WOcg&bvm=bv.89947451,d.d2s
develops ideas Matt first cited in The Origins of Virtue
Most importantly Dr Poole indicates ways in which we could re-engineer our business processes and corporate structures to stop the harm arising from the rampageous beast of raw capitalism whilst preserving all its best features.
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Title: Capitalism's Toxic Assumptions
Subtitle: Adam Smith's Seven Deadly Sins
Author: Eve Poole
Narrator: Christopher Oxford
Format: Unabridged
Length: 6 hrs and 4 mins
Language: English
Release date: 03-26-15
Publisher: Audible Studios for Bloomsbury
Ratings: 3 of 5 out of 4 votes
Genres: Nonfiction, Economics
Publisher's Summary:
In science no one believes the Earth is flat anymore. Economists, on the other hand, haven't budged from their original worldview. Market capitalism depends on seven big ideas: competition, the "invisible hand", utility, agency theory, pricing, shareholder value, and limited liability. These served the world well in the past, but over the years they have become cancerous and are slowly killing the system as a whole.
Eve Poole argues that if you zoom in on any of these firm foundations, they start to blur and wobble. Here she offers alternative views for a healthier system. And looking at them together, it becomes clear why we're so stuck. The capitalist system masquerades as a machine programmed by experts, with only economists and governments qualified to tinker with it. But the market is just a mass of messages about supply and demand. The rich world shapes the market in its image because it has more "votes". So if we want to change the way things are, we don't need to wait for the experts; we can start now.
In each chapter Poole shows how quiet action by consumers, investors, employees, and employers can make big changes by shifting behaviors and adjusting the way financial "votes" are cast in the market.
Members Reviews:
A Roadmap to protect against another collapse
In 2008 when the Queen spoke to academics at the London School of Economics about the turmoil on the business markets she famously asked "Why did nobody notice it?" The massed ranks of mainly male economists were unable to answer her question. Seven years later despite many worthy books on the financial crisis the worlds community of economists remains incapable of using the evidence of the past to reliably provide any assurance to protect our future from another collapse.
Until now. Along has come Dr Poole with a comprehensive reassessment of the flaws in modern capitalism and with a road map to guide the profession away from its worst ills. She has had the nerve (and intellect) to look at the fundamental laws of the dismal science and question them in the light of modern evidence derived from psychology and moral philosophy - remembering always that Adam Smith, the father of the invisible hand, wasnt an economist but was a moral philosopher whose work was taken up and interpreted by economists after he was dead when he couldnt easily answer back.
Her conclusions about co-operation and not selfishness being a key aspect in the success of business enterprises should find support from Matt Ridley whose TED talk https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CCQQyCkwAA&url=http%3A%2F%2Fwww.ted.com%2Ftalks%2Fmatt_ridley_when_ideas_have_sex%3Flanguage%3Den&ei=VfYgVce1OZDPaI-WgeAC&usg=AFQjCNEKToSGP_cOsilmEFltGsYfXaPwAA&sig2=XReqPeu4XFU9bpQD34WOcg&bvm=bv.89947451,d.d2s
develops ideas Matt first cited in The Origins of Virtue
Most importantly Dr Poole indicates ways in which we could re-engineer our business processes and corporate structures to stop the harm arising from the rampageous beast of raw capitalism whilst preserving all its best features.