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Economics for Everyone: A Short Guide to the Economics of Capitalism (Paperback)

by Jim Stanford (Author)

4.3 out of 5 stars See all reviews (3 customer reviews)

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Product details

Paperback: 360 pages
Publisher: Pluto Press (20 Jun 2008)
Language English
ISBN-10: 0745327508
ISBN-13: 978-0745327501
Product Dimensions: 21.3 x 13.5 x 2.3 cm

Average Customer Review: 4.3 out of 5 stars See all reviews (3 customer reviews)

Amazon.co.uk Sales Rank: 262,179 in Books (See Bestsellers in Books)

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Product Description

Review

Stanford is that rare breed: the teacher who changed your life. He has written a book - both pragmatic and idealistic - with the power to change the world. --Naomi Klein, author of No Logo and The Shock Doctrine: The Rise of Disaster Capitalism

Jim Stanford has a unique ability to explain economics in ways that average working people can totally relate to. --Bob White, Former President, Canadian Labour Congress, and Former President, OECD Trade Union Advisory

I have been waiting all my adult life for this book. Jim Stanford, brilliant economist himself, wrote a terrific book that demystifies economics and makes the subject accessible to us all. Now there's going to be trouble! --Maude Barlow, Voluntary Chairperson, Council of Canadians, and international water rights campaigner.

Product Description

Economics is too important to be left to the economists. This brilliantly concise and readable book provides non-specialist readers with all the information they need to understand how capitalism works (and how it doesn't). Jim Stanford's book is an antidote to the abstract and ideological way that economics is normally taught and reported. Key concepts such as finance, competition and wage labour are explored, and their importance to everyday life is revealed. Stanford answers questions such as'Do workers need capitalists?', 'Why does capitalism harm the environment?'; and 'What really happens on the stock market?'He offers both a realistic assessment of capitalism's strengths, and a robust critique of its many failures. This book will appeal to those working for a fairer world, and students of social sciences who need to engage with economics. The book is illustrated with humorous and educational cartoons by Tony Biddle, and is supported with a comprehensive set of web-based course materials for popular economics courses.

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Inside This Book (Learn More)

Browse Sample Pages
Front Cover | Copyright | Table of Contents | Excerpt | Index

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4.3 out of 5 stars (3 customer reviews)

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6 of 6 people found the following review helpful:

5.0 out of 5 stars A one stop shop for the leyman, 25 Jun 2009

By	Mr. Greg Sawers (Glasgae, Scotland) - See all my reviews (REAL NAME)

I would highly recommend this book for those seeking a balanced introduction to economics. It is easily digestible whilst tackling key concepts that are normally obfuscated by conventional economic explanations- for all the wrong reasons..

Whilst I would never imply that one solitary book can provide an understanding of a topic this book will serve well the reader who occasionally delves into economic matters and wants a balanced book with a good overview of the field.

The effect for me was a greater understanding and a more optimistic and empowered view of economics.

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1 of 1 people found the following review helpful:

3.0 out of 5 stars Thought provoking but repetitive, 7 Dec 2009

By	Sheri (London, England) - See all my reviews

I'm fairly new to economics so I enjoyed the fact that the author explained the basics in simple, easy-to-understand terms.

He does have an obvious political agenda as a union economist, which can be frustrating as you try to skip through the rather mindless repetition to the next good bit. It's a minor concern, but enough to distract from an otherwise great read.

It did make me realise how easy it is just to accept that things are the way they are because that's the way it should be. There are other ways of running an economic system - the one we've got is just a step in an ever-evolving science.

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5.0 out of 5 stars Good intro to how capitalism works (or not), 8 Dec 2009

By	William Podmore (London United Kingdom) - See all my reviews (TOP 100 REVIEWER) (REAL NAME)

Jim Stanford, who is economist for the Canadian Auto Workers union, has produced a useful introduction to the economics of capitalism. He shows us capitalism's basics: work, tools and profit; how it works (or doesn't) as a system; its complexity; and various challenges to capitalism. He shows up capitalism's inherent failings and proposes policies that would be in the interests of the working class, the vast majority of the population in industrial countries.

He points out, "Most modern jobs and careers fall into the category of wage labour - whether they are in private companies or public agencies, blue-collar or white-collar. The stereotype of a `worker' as someone who performs menial tasks on an assembly line is badly outdated. Workers today perform a wide variety of functions, many of them requiring advanced skills. But they are still workers, so long as they perform that work for somebody else, in return for a wage or salary. Scientists in a research laboratory; surgeons in a large hospital; engineers in a construction firm - these are all workers (although culturally, they may not like to define themselves as such). They perform their labour in return for a salary, and they do not own or significantly control the organization which they work for."

He shows that the capitalist class is just two per cent of the population, and note, "Many of these rich individuals work; but the key distinction here is that they don't have to work, since they own enough business wealth to support themselves very comfortably without working."

He praises Cuba: "Socialist Cuba - where average health outcomes are superior to those in the US - manages to do more, given its GDP, to improve human welfare than any other country in the world. ... Cuba's admirable social achievements (its education, health, and cultural indicators outrank most developing countries, and even many developed countries) demonstrate the potential of socialism to leverage the maximum possible well-being from a given amount of material production."

He also points out how employers gain from the free movement of labour: "employers are permitted to re-create abundant supplies of cheap, desperate labour by exploiting vulnerable immigrants ... Capitalists may encourage these migrations when they face uncomfortably tight labour market conditions in particular countries (in which case immigration is a convenient way to keep a lid on wages)."

As he observes, "Migrants are treated as temporary, second-class citizens, often forced to return to their country of origin when their jobs are finished, and subjected to social and legal abuses in the interim. Their migration can also harm the countries they leave - especially since it is usually the best-educated, most capable people who are allowed to migrate to better-paying opportunities in other countries."

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