Table of Contents
Preface
About the Author
Central Purpose
The Research and Writing Process
Approaches to Reading the Book
Introduction
The Great Divide
The $47 Trillion Rip Off
Basic Themes
Chapter 1 – A Little Context
Escaping the Silos
Orthodox Economics
Integrating The Silos
The Rich and Corporations
Chapter 2 – Capitalism Defined
What is capitalism? – our politics’ rhetoric
Capitalism defined
What is an economy for? – our view
Chapter 3 – Neoliberal Wealth Supremacy
The rich and corporations understand how capitalism works
Regulatory Capture
About Neoliberalism
Neoliberal Wealth Supremacy – the most successful social movement of the last 100 years
Learn more about Neoliberalism
Chapter 4 – Capitalism – key features
Some Context
The role of the Scientific Revolution
Free Markets?
Capitalism produces precarity – persistent insecurity
The capitalist system is unstable
Capitalism operates through unequal power relationships.
Private property and rent
Capitalism tends towards monopoly.
A Monopolization Case Study – Chickenization
Competition – avoided or eliminated
Capitalism concentrates wealth and income.
Anonymous Capitalism
Capitalism controls investment
Capitalism features ubiquitous use of “external” costs.
Externalities in the Digital Age
Externalities and Health – Industrial Food
Corporate Law
Capitalism works on a short investment time horizon.
Capitalism does not provide for housing, healthcare, education, and other family needs
Capitalism distorts, changes, and creates human demand and consumption.
Misapplication of markets
Capitalism disaggregates the production of goods and services.
Global Capitalism – Globalization
Capitalism requires endless growth on a planet with finite resources.
Is capitalism a system?
Slavery, colonialism, and the use of state power.
Chapter 5 – Financialization – from production to extraction
Chapter 6 – Money and the Financial Sector
What Is Money and How Does It Work?
Modern Monetary Theory
The Financial Sector
Changes in the structure and operation of financial markets
Changes in Behavior of Nonfinancial Corporations – the real economy
Shareholder Value Theory
Changes in Economic Policy
Too Big to Fail – Socializing Private Risk
Risk Management and Gambling
Intellectual Property, Patents, Copyrights
Mass Debt
Secrecy, hidden money, taxes
Does The Financial Sector Add Value?
More about Capitalism – Key Features
Chapter 6 – How does this compare to American values?
My children will be better off than me – upward social mobility
Everyone is equal
Your life is in your own hands – the land of opportunity
Justice and the Rule of Law
Chapter 7 – Precarity – How we experience capitalism.
Labor Precarity
Housing Precarity
Transportation
Food Precarity
Education Precarity
Precarity for Women
Health Precarity
Rural Precarity
Precarity of Time
Aging and Retirement Precarity
Mental Health Precarity
Attention Precarity
Is Precarity a Global Phenomenon?
Chapter 8 – In Conclusion
Appendix 1: Understanding Charts and Graphs
Real (Constant) (Inflation-adjusted) Dollars
Appendix 2 – Envisioning $47 Trillion
What is $47 trillion – 47,000,000,000,000 – a comparative exploration?
The Billionaire Tower View
The Around the World View
Bibliography
INDEX