The Future of U.S. Capitalism

This book looks at what is going to happen to U.S. enterprises, markets, and the government sector in the coming decades. The discussion draws on economic factors such as the declining growth rate that will accompany the aging of the population. The author also considers a series of critical social, cultural, and political trends that will affect the way economic activities will be structured. He focuses particular attention on the increasing share of markets that will be held by the largest firms, and the changing roles of government in the economy. This book tells us not only what will happen in the future, but also provides perspective on what is happening to U.S. capitalism today.

This multidisciplinary book looks at the long-term forces that are shaping the most important economic institutions in the US in the coming decades. The style is lively and clear, with a series of appendices focusing on technical issues of interest to specialists. The author foresees a declining rate of growth, a widening of the inequalities of income, and an increasing share of individual markets taken by a small number of large corporations. Combined with declining social solidarity and trust in government, he foresees an ever harder edge to the way in which capitalism will function in the future. The economic role of government will decline in the fields of stabilization and regulation, but government expenditures will become higher due to the aging of the population. This provocative book looks at the US from a novel viewpoint and shows how many commonly accepted views of the US economy need to be revised.

Acknowledgements; Part I. Introduction: 1. Setting the stage; Part II. Internal Influences on the Economic System: 2. Saving and economic growth; 3. Economic fluctuations and financial crises; 4. Economic inequality; 5. Globalization; Part III. External Influences on the Economic System: 6. Natural resources and the environment; 7. Social factors; 8. Political factors; Part IV. Changes in Crucial Economic Institutions and Organizations: 9. Evolution of business enterprises; 10. Evolution of market competition; 11. Evolution of government regulation and ownership; 12. Evolution of government spending; Part V. Summary: 13. Whither US capitalism?; Appendices; Bibliography; Indexes.

This multidisciplinary book looks at the long-term forces that are shaping the American economic institutions in the coming decades. The author foresees a declining rate of growth, a widening of the inequalities of income, and an increasing share of individual markets taken by a small number of large corporations.