Book Launch- Is Capitalism Obsolete?

Professor Ron Smith will be introducing Giacomo Corneo, who will be talking about his book "Is Capitalism Obsolete?"

This will be followed by a discussion and drinks reception.

Is Capitalism Obsolete? starts when an indignant daughter confronts her father about the injustices of capitalism, prompting her father to reply that capitalism cannot responsibly be abolished without an alternative in mind. He invites her on a tour of hypothetical economic systems in which production and consumption obey noncapitalistic rules. These range from Plato’s Republic of Philosophers to diverse modern models, including anarchic communism, central planning, and a stakeholder society. Some of these alternatives have considerable strengths. But daunting problems arise when the basic institutions of capitalism—markets and private property—are suppressed. Ultimately, the father argues, all traditional counterproposals to capitalism fail to pass the test of economic feasibility. Then the story takes an unexpected turn. Father and daughter jointly come up with a proposal to gradually transform the current economic system so as to share prosperity and foster democratic participation.

Copies of his book will also be available to purchase at the event.