But trouble is cracking its shiny veneer. In the U.S., Europe, and Japan, economic growth has slowed down. Wealth is concentrated in the hands of a few; natural re sources are exploited for short-term profit; and good jobs are hard to find.
With piercing clarity, Philip Kotler explains 14 major problems undermining capitalism, including persistent poverty, job creation in the face of automation, high debt burdens, the disproportionate influence of the wealthy on public policy, steep environmental costs, boom-bust economic cycles, and more.
Amidst its dire assessment of what’s ailing us, Confronting Capitalism delivers a heartening message: We can turn things around. Movements toward shared prosperity and a higher purpose are reinvigorating companies large and small, while proposals abound on government policies that offer protections without stagnation. Kotler identifies the best ideas, linking private and public initiatives into a force for positive change.
Combining economic history, expert insight, business lessons, and recent data, this landmark book elucidates today’s critical dilemmas and suggests solutions for returning to a healthier, more sustainable Capitalism - that works for all.
CONTENTS
Introduction: Creating High-Performance Capitalism 1
Chapter 1: The Persistence of Poverty 17
Chapter 2: Income Inequality on the Rise 29
Chapter 3: Workers under Siege 63
Chapter 4: Job Creation in the Face of Growing Automation 79
Chapter 5: Companies not Covering Their “Social Costs” 95
Chapter 6: Environment Exploitation 105
Chapter 7: Business Cycles and Economic Instability 115
Chapter 8: The Dangers of Narrow Self-Interest 135
Chapter 9: The Debt Burden and Financial Regulation 147
Chapter 10: How Politics Subverts Economics 167
Chapter 11: Capitalism’s Short-Term Orientation 181
Chapter 12: Questionable Marketing Outputs 189
Chapter 13: Setting the Right GDP Growth Rate 199
Chapter 14: Creating Happiness as Well as Goods 211
Epilogue 225
Notes 227
index