Best A People's Guide to Capitalism: An Introduction to Marxist Economics By Hadas Thier

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A People's Guide to Capitalism: An Introduction to Marxist Economics-Hadas Thier

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A lively, accessible, and timely guide to Marxist economics for those who want to understand and dismantle the world of the 1%. Economists regularly promote Capitalism as the greatest system ever to grace the planet. With the same breath, they implore us to leave the job of understanding the magical powers of the market to the “experts.” Despite the efforts of these mainstream commentators to convince us otherwise, many of us have begun to question why this system has produced such vast inequality and wanton disregard for its own environmental destruction. This book offers answers to exactly these questions on their own terms: in the form of a radical economic theory.“Thier’s urgently needed book strips away jargon to make Marx’s essential work accessible to today’s diverse mass movements.” —Sarah Leonard, contributing editor to The Nation“A great book for proletarian chain-breaking.” —Rob Larson, author of Bit Tyrants: The Political Economy of Silicon Valley“Thier unpacks the mystery of capitalist inequality with lucid and accessible prose . . . . We will need books like A People’s Guide to help us make sense of the root causes of the financial crises that shape so many of our struggles today.” —Keeanga-Yamahtta Taylor, author of Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership“Ranging from exploitation at work to the operations of modern finance, this book takes the reader through a fine-tuned introduction to Marx’s analysis of the modern economy . . . . Thier combines theoretical explanation with contemporary examples to illuminate the inner workings of capitalism . . . . Reminds us of the urgent need for alternatives to a crisis-ridden system.” —David McNally, author of Blood and Money

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Full disclosure- I have not read the book.But when the very short blurb includes the howler "this system [capitalism] has produced such vast inequality and wanton disregard for its own environmental destruction", I can see where this is going.This is idiocy on the face of it. There are real, simple examples of the effects of capitalist vs. Marxist development. North vs. South Korea. Maoist China vs. Taiwan. Russia vs. Western Europe. Venezuela vs. anywhere.Inequality in Marxist economies is only less in the sense that everyone is poor except for a tiny sliver of party functionaries. And there the inequality is staggering.And even more stark is the difference in environmental concern. In Marxist economies there simply isn't any, beyond rhetoric. By contrast, the more successful the capitalist country, the greater its progress in cleaning and protecting its environment.One only has to look around. Not at theory, but at the effects everywhere Marxism has gained sway to see.
I really wish Hadas Thier would invent a time machine, go back to when Marx was writing Capital and tell him to sit down and let her handle it. I realize that trying to explain how capitalism worked was a daunting task, but didn't Marx himself say that the whole point wasn't to interpret the world but to change it? Well if you make your analysis of capitalism impossible for ordinary people to understand, then how the hell are you going to change the world? Seriously!Ok enough complaining. Hadas Thier has truly done a masterful job explaining capitalism. She organizes the story so that we start with how capitalism came to be (rather than Marx's obsession with the commodity as the starting point). She also eliminates entirely Marx's dialectic, which, frankly, I don't think added anything to the discussion, and just made everything harder to understand. Once Thier explains how capitalism came to be, she discusses the commodity and explains how money bridges the divide between the labor that created the commodity and the realization of the commodity's value via exchange. After that, Thier explains that capitalism emphasizes exchange values over use values, and how detrimental this is for society. She shows the different ways capitalists try to extract surplus value from their workers and machines, and charts how that surplus value is constantly reinvested to spur on more and more growth. What does uninterrupted growth mean for society? She explains it through the concepts of concentration and centralization, which ultimately give big/rich firms the ability to buy up competitors and weather economic downturns. Lastly, she shows how credit and finance speed up capitalist accumulation and how this helps create the conditions for an economic crash. We also learn about the inherent contradictions within capitalism (particularly how supply and demand are allowed to expand or contract at will, which ultimately cause the system to seize up when demand can't keep up with supply).In the course of reading this book, there were only a few instances where I needed to go back and reread a section or an entire chapter. Something I sadly can't say about Capital itself. This is THE BOOK you need to read if you want to understand capitalism. Buy it! Even if you think socialism is the worst political system ever ... even if you think capitalism is the bees knees. You will learn something about how the system works, if nothing else.I sincerely wish I could email Ms. Thier myself and tell her how much I appreciate her writing this book. But hopefully, my review will spur you to buy it or borrow it from your local library. Go do it now!

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