Turbo-Capitalism: Winners and Losers in the Global Economy

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9780060931377: Turbo-Capitalism: Winners and Losers in the Global Economy

In this incisive and controversial expose of the hidden effects of today's free-market capitalism, Edward Luttwak describes in powerful detail how it vastly differs from the controlled capitalism that flourished from 1945 to the 1980s. Turbo-capitalism is private enterprise liberated from government regulation, unchecked by effective trade unions, unfettered by concerns for employees or communities, and unhindered by taxation or investment restrictions. The winners in this free-for-all are getting much richer, while the losers are becoming poorer and are forced by downsizing to take the traditional jobs of the underclass. Led by the United States, closely followed by Britain, turbo-capitalism is spreading fast throughout Europe, Asia, and the rest of the world without the two great forces that check its enormous power in the United States: a powerful Legal system and the stringent rules of American calvinism. Luttwak exposes the major societal upheavals and inequities turbo-capitalism causes and the broad dissatisfaction and anxiety that may result.

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Pub Date: 2000-03-01 Pages: 304 Language: English Publisher: HarperCollins In this incisive and controversial expos of the hidden effects of todays free-market capitalism. Edward Luttwak describes in powerful detail how it vastly differs from the controlled capitalism that flourished from 1945 to the 1980s. Turbo-capitalism is private enterprise liberated from government regulation. unchecked by effective trade unions. unfettered by concerns for employees or communities. and unhindered by taxation or investment restrictions. The winners in this free-for-all are getting much richer. while the losers are becoming poorer and are forced by downsizing to take the traditional jobs of the underclass. Led by the United States. closely followed by Britain. turbo-capitalism is spreading fast throughout Europe. Asia. and the rest of the world without the two great forces that check its...

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"Luttwak's work is a rigorous critique of a system that he believes will either evolve or collapse from its excesses.... The best thing about his books, whether you agree with them or not, is the agile, independent intellect at work in them. It makes him, among other things, a superb social critic."-- "Business Week""Luttwak's strong suit is that he writes forcefully and idiosyncratically.He is cosmopolitan and easy to read.... At his best, Luttwak blends economic and social criticism almost in the style of John Kenneth Galbraith."-- "Robert Kuttner, New York Times Book Review""We've read before about the winner-take-all society, an alienated 'flexible' work force and manic debt-fueled consumerism. But Mr. Luttwak ... Has written an original, provocative book that takes up all these questions at once, and more."-- "New York Times""On occasion Luttwak musters a delicious Galbraithian barb. On the whole, he writes with a measured fair-mindedness. He is fully aware of the appeals of market fundamentalism--the innovation, the excitement, the constant change. But he asks, over and over, whether the fruits, such as they are, are always worth the social price."-- "Washington Monthly"

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