International Political Economy Book Report

International Political Economy

After Capitalism by David Schweickart is a book targeting capitalism and promoting the advent of socialism in the economy today. Many say that the book might just be a small version of the book Against Capitalism that came out in 1996. It is easy to say that a socialist America might b a better one, but Schweickart thinks that the word keeps on being used over and over again merely to scare the American people. (Schweickart xvii)

In the book, the major target has been placed on capitalism and its negative impacts on the country. It has been stated that the capitalism has led to environmental degradation, unemployment, overwork, wars, hunger and poverty as well. Schweickart stated that the economic democracy is actually a community and worker oriented form of Market Socialism. According to him, the capitalistic outlook present in the economy today is not free from the shackles of the government. The government pretends that it had given the people all the power but still gets all its requirements done instead.

The major goal mentioned here is after putting the social ideals into the economy and moving towards the Economic democracy mentioned earlier. This form of democracy would be the first step in moving towards a socialist system. The economic democracy basically functions as the same principle for goods and services. Schweickart talks about how the capital institution of wage labor would be taken out and the workers would go on to become their own owners. Instead of being financial markets being present, there would be a much more democratic control of investment. The idea of a capitalist is well explained by Schweickart. An entrepreneur or a capitalist is a person who brings together land, labor and wage according to the neoclassical economic theory. (Schweickart 35) This means that in the whole system where everyone else is just part of the labor class at the end of the day, the capitalist can put it something and take profit from it. Schweickart has put out Marx's labor theory of value to a practical approach and given examples of it.

It is clear that Schweickart's book has targeted capitalism and given different substitutes for it.Schweickart thinks that the theories he has given out cannot make a revolution in an instant but can trigger the transition that our economy desperately needs. (Schweickart 13)

The economy that Schweickart emphasizes on is more locally based. The book revolves around more business and home-based community run economy. The global economy of international and national corporations has to be turned into the home markets if the socialist reform has to take place more effectively. Surely there have been corruptions and decencies present in the free market economy that is present today. (Ali) If a certain country does go onto break regulations or work merely for self-interest, there is no one to question his or her incentive.

The larger the market gets the more competition here and thus this gives more room for deception. It is this deception that has led to wars and led to the fall of capitalism in the long run. (Ali) According to Schweickart, TINA (there is no alternative: a statement by capitalists) states that capitalism is something that is efficient and dynamic. Yet in the real life, it is seen that all capitalism has provided is instability, overworking labor class and pollution.

The firms that are run by workers and not capitalist do not have a need to expand at all times. The global economy can be seen at a loss on merely the need and desire to keep expanding. (Schweickart 128) Enterprises go out and settle in different countries only so they can take profit from the new markets. The economic behavior of a country will be governed by the market there. This can lead to exploitation of the labor and thus chaos in the long run. The system put….....