The Truth About Markets: Why Some Nations are Rich But Most Remain Poor

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9780140296723: The Truth About Markets: Why Some Nations are Rich But Most Remain Poor

Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model – unfettered self-interest, privatization and low tax – faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism?

Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why ‘one-size-fits-all’ globalization hurts developing countries and why markets can work – but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.

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Review:

'[an] important new book...Kay makes an awful lot of sense about the limits of modern government' -- Martin Kettle, the Guardian

'an ambitious and brilliantly executed book...It is accessible and witty, and it sheds light on the way the world works' -- Richard Lambert, The Times

'one of the leading British economists of his generation' -- Hamish McRae, the Independent

'written with wit and subtlety...an important contribution to the post-1990s reassessment of capitalism' -- Martin Vander Weyer, the Telegraph

From the Author:

It is bad form in Britain for an author to comment on a review but the Kirkus review is seriously misleading. The reviewer says that 'John Kay has produced a spirited, informative and very readable justification for the American Business Model'. Flattering, in a way, but not true. The chapter on the American Business Model concludes that 'The ABM is deficient for its naive approach to issues of human motivation, its simplistic analysis of structures of property rights, its inability to maintain efficiency in the face of imperfect information, its misleading account of markets in risk, its glossing over of problems of cooperation and coordination, and its failure to describe the generation of the new knowledge on which its very success depends.

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Book Description Penguin Books Ltd. Paperback. Book Condition: new. BRAND NEW, The Truth About Markets: Why Some Nations are Rich But Most Remain Poor, John Kay, Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model - unfettered self-interest, privatization and low tax - faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism? Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why 'one-size-fits-all' globalization hurts developing countries and why markets can work - but only in a humane social and cultural context. His answers offer a radical new blueprint for the future. Bookseller Inventory # B9780140296723

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Book Description Penguin Books Ltd, United Kingdom, 2009. Paperback. Book Condition: New. 192 x 130 mm. Language: English . Brand New Book. Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model - unfettered self-interest, privatization and low tax - faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism? Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why one-size-fits-all globalization hurts developing countries and why markets can work - but only in a humane social and cultural context. His answers offer a radical new blueprint for the future. Bookseller Inventory # APG9780140296723

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Book Description Penguin Books Ltd, United Kingdom, 2009. Paperback. Book Condition: New. 192 x 130 mm. Language: English . Brand New Book. Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model - unfettered self-interest, privatization and low tax - faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism? Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why one-size-fits-all globalization hurts developing countries and why markets can work - but only in a humane social and cultural context. His answers offer a radical new blueprint for the future. Bookseller Inventory # APG9780140296723

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