Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed

by Donghyun Park (Author)

Global capitalism is currently suffering from an unmistakable malaise, epitomized by wide and growing inequality that is eroding popular support for capitalism. Such anti-capitalist sentiment, coupled with a growing anti-globalization mood, delivered Brexit in a UK referendum and swept Donald Trump to the US presidency. In Capitalism in the 21st Century, internationally well-regarded economist Dr Donghyun Park articulately explains why more capitalism is needed to tackle global problems such as climate change and inhumane poverty. While defending capitalism against its unfair demonization, the author makes a positive case for entrepreneurial capitalism, which creates wealth and jobs as well as drives human progress. According to the author, reforming the financial industry, which has become a self-serving leviathan, and more fundamentally, tweaking the economic role of the government, which stifles growth-promoting entrepreneurship, are critical to restoring the vitality of capitalism. The book is explicitly written in such a way that the general reader without any background in economics or finance can easily understand it.


Contents:
Capitalism in Crisis?
World's Worst Cars, North Korea, Biggest Man-Made Disaster in History, and Entrepreneurial Chinese DNA
Cuban Doctors, Communism versus Socialism, and North Korea versus India
Inequality, the Cancer at the Heart of Capitalism
Equality of Opportunity, Barack Obama, Ben Carson, Daymond John, Black Lives Matter, and Public Education
The Best Use of Taxpayers' Money and the Best Way to Help the Poor
Gates Foundation, Giving Pledge Campaign, Carnegie Libraries, and Panama Papers Scandal
The Myth of European Socialism
Lebron James, Leonel Messi, and Superstar Salaries
Joseph Schumpeter, Creative Destruction, Iphone, Uber, and Competition as the Essence of Capitalism
Rockefeller, Robber Barons, and Bernie Sanders
Googling, Ted Turner, and Job-Creating Entrepreneurs
Arab Spring, Mohamed Bouazizi, and Equity–Efficiency Tradeoff
Courageous Office Workers Who Become Entrpreneurs, Ryanair, and Air Asia
The Two Faces of Capitalism, Adidas, and Rana Plaza Disaster
Government as Policeman of Capitalist Greed, and Man-Made Disaster in Korea's Beverly Hills
Government as Corrupt Policeman, Japanese Descent from Heaven, and Swiss Bank Accounts
Regulatory Capture, Fukushima Nuclear Disaster, and Overpriced Electricity in Philippines
Russia's Catastrophic Privatization, Thaksin Shinawatra, and Silvio Berlusconi
K Street Lobbyists, Richard Gephardt, and Donald Trump
Blown Calls in Sports, Capitalist Competition, Government as Referee, Democratic Capitalism versus Elite Capitalism, and Merit Capitalism versus Hereditary Capitalism