Capitalism and Its Economics: A Critical History [Paperback]

Douglas Dowd (Author)

Book Description

ISBN-10: 0745322794 | ISBN-13: 978-0745322797 | Publication Date: July 20, 2004 | Edition: Revised

This classic book is an ideal introduction to economic thought and the dominance of capitalism, ideal for students of economic theory and history. Now thoroughly revised and updated, this new edition includes a new preface and an additional chapter by the author. Analysing the relationship between economic thought and capitalism from 1750 to the present, Douglas Dowd examines the dynamic interaction of two processes: the historical realities of capitalism and the evolution of economic theory. He demonstrates that the study of economics celebrates capitalism in ways that make it necessary to classify economic science as pure ideology. A thoroughly modern history, this book shows how economics has become ideology. A radical critic of capitalism, Dowd surveys its detrimental impact across the globe and throughout history. The book includes biographical sketches and brief analyses of the major proponents and critics of capitalism throughout history, including Adam Smith, Thomas Malthus, Jeremy Bentham, John Stuart Mill, Karl Marx, Thorstein Veblen, Rosa Luxemburg, John Maynard Keynes, Paul Samuelson, Milton Friedman, and Eric Hobsbawm.

Editorial Reviews

Review

‘Addresses some of the most crucial questions of the current era. ... Dowd brings formidable qualities to this challenging task. An impressive achievement.’ --Noam Chomsky

 

‘This is a work of enlightenment that will be intelligible to students and non-economists.’ --Edward S. Herman

About the Author

Douglas Dowd is a widely respected academic and political activist. He has taught at Cornell University, Johns Hopkins University, University of California, Berkeley, and San Jose State University, among others. His most recent books include Against the Conventional Wisdom: A Primer for Current Economic Controversies and Proposals (Westview, 1997) and Understanding Capitalism (Pluto Press, 2002).

Product Details

• Paperback: 344 pages
• Publisher: Pluto Press; Revised edition (July 20, 2004)
• Language: English
• ISBN-10: 0745322794
• ISBN-13: 978-0745322797
• Product Dimensions: 9 x 6 x 0.9 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #761,081 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

5.0 out of 5 stars An Outstanding Critical Primer on Capitalism and the Field of Economics, October 23, 2010

By 

Joshua - See all my reviews

This review is from: Capitalism and Its Economics: A Critical History (Paperback)

'Capitalism and its Economics' is an excellent critical overview of the history of capitalism and the history of the field of economics. Before most people realized that mainstream economics has virtually no predictive power (see Fall, 2008), and is effectively so much nonsense, Dowd detailed its dubious historical origins. Reacting to Marx's revolutionary application of Classical Political Economy (Smith, Ricardo, et al.), Neo-Classical Political Economy increasingly separated itself from any relationship to history and society. Now more than ever -- see the problematic but still informative "Inside Job" -- university economic departments train students in an entirely abstracted lexicon whose main purpose is to justify -- or merely obfuscate the workings of -- contemporary capitalism. Dowd additionally delivers a sweeping and memorable history lesson on the development of capitalism itself, surveying the historic preconditions for and consequences of the rise of that system. Dowd's work is far more sophisticated -- and opinionated -- than standard introductory texts, but it is nonetheless a friendly and enormously helpful teacher. The book is radical, illuminating, often funny (with numerous informative tidbits in the footnotes), and is likely the best introductory text you'll find on the subject.