50 key ideas that explain capitalism: its concepts, its weaknesses, its past, its future

Controversial and unavoidable, it shapes our society and our lives - but what really is capitalism? Does it mean greed is good? Are inequality and poverty its inevitable consequences? Can economic growth continue forever or are constant cycles of boom and bust a foregone conclusion? Indeed is capitalism in a fatal crisis - and what, if any, are the alternatives?

From capitalism's history, core theories and key institutions to its current-day political power and social impact, this book explains everything you need to understand the world's dominant economic system. Jonathan Portes demystifes the fundamental concepts of capital, creative destruction, the market and the invisible hand; dissects the rival ideologies of socialism, liberalism and Keynesianism; predicts what capitalism means for immigration, the environment and the future of work; and much more - all in 50 concise and authoritative essays.

Here is the essential one-volume guide to capitalism: its strengths and weaknesses, past and future - a future that will affect us all.

Introduction Basic Concepts 01 What is capitalism? 02 Property and property rights 03 Free markets 04 Capital 05 Labour and surplus value 06 Money 07 Monopoly 08 Comparative advantage 09 The invisible hand 10 Creative destruction 11 Growth Institutions of Capitalism 12 Enterpreneurs 13 Firms 14 Banks 15 The role of government 16 Central banks 17 Trade unions Finance and Financial Markets 18 Stock markets 19 The financial system 20 Limited liability 21 Efficient markets 22 financial crises 23 Debt Political Economy 24 Democracy 25 Conservatism and liberalism 26 Socialism 27 Marxism 28 The Keynesian revolution 29 Nationalization and privatization 30 The Welfare State 31 The Industrial Revolution 32 Imperialism and colonialism 33 War 34 Globalization 35 The Chinese miracle 36 The land of the free? Society and Culture 37 Consumrism 38 Unemployment 39 Culture 40 Evolution 41 Greed 42 Inequality 43 Poverty 44 Immigration Capitalism's Future 45 Stagnation 46 Abundance and superabundance 47 The future of work 48 The digital economy 49 The environment 50 Is there an alternative? Glossary Index