Capitalism in the 21st Century

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 DNACuban Doctors, Communism versus Socialism, and North Korea versus IndiaInequality, the Cancer at the Heart of CapitalismEquality of Opportunity, Barack Obama, Ben Carson, Daymond John, Black Lives Matter, and Public EducationThe Best Use of Taxpayers' Money and the Best Way to Help the PoorGates Foundation, Giving Pledge Campaign, Carnegie Libraries, and Panama Papers ScandalThe Myth of European SocialismLebron James, Leonel Messi, and Superstar SalariesJoseph Schumpeter, Creative Destruction, Iphone, Uber, and Competition as the Essence of CapitalismRockefeller, Robber Barons, and Bernie SandersGoogling, Ted Turner, and Job-Creating EntrepreneursArab Spring, Mohamed Bouazizi, and Equity–Efficiency TradeoffCourageous Office Workers Who Become Entrpreneurs, Ryanair, and Air AsiaThe Two Faces of Capitalism, Adidas, and Rana Plaza DisasterGovernment as Policeman of Capitalist Greed, and Man-Made Disaster in Korea's Beverly HillsGovernment as Corrupt Policeman, Japanese Descent from Heaven, and Swiss Bank AccountsRegulatory Capture, Fukushima Nuclear Disaster, and Overpriced Electricity in PhilippinesRussia's Catastrophic Privatization, Thaksin Shinawatra, and Silvio BerlusconiK Street Lobbyists, Richard Gephardt, and Donald TrumpBlown Calls in Sports, Capitalist Competition, Government as Referee, Democratic Capitalism versus Elite Capitalism, and Merit Capitalism versus Hereditary CapitalismTelecoms, AT&T, and Natural MonopolyPrivatization, Russian Billionaires, and Carlos SlimHenry Ford, Joseph Schumpeter's Creative Destruction, and the Power of PatentsOver-Regulation, the Final Straw for Aspiring EntrepreneursArab Bureaucracy, Ridha Yahyaoui, and Islamic StateIngenious Nigerian Entrepreneurs, Dodd-Frank, and ObamacareMarket Failure, Global Warming, and Carbon TaxSaving Amazon Rainforests and World Environment OrganizationBig Mac, National Defense, and the Case for Public EducationThe Myth of Free Health CareBest Use of Tax Payers' Money 2, Limited Government Budgets, and Bolsa Familia$1-a-Week Private Schools, Mathare Slum in Kenya, and Pablo EscobarFailed States, Genocidal Governments, Boko Haram, and Bashar AssadFailing Airlines, Striking Pilots, and Bloated State Company PayrollsFiring Government WorkersToxic Public Schools, Toxic Teachers' Unions, and Their Harmful Impact on InequalityLazy Uncaring Parents, Finland's World-Class Education System, and Teach for AmericaIron Curtain, Government Production of Goods and Services, and the East Asian MiracleIndustrial Policy, Park Chung-Hee, and Lee Kuan YewRecep Erdoğan, and the Rwandan GenocidePaul Kagame, Teodoro Obiang, and Africa's Sahara-Crossing Economic RefugeesThe Curse of Foreign Aid, and Medécins Sans FrontièresEgyptian Boys in Rome, Tragedy of Aylan Kurdi, and the Meaning of Good Government in Developing CountriesWestern Ideals versus Third World RealitiesMiddle-Income Trap and the Curse of Abundant Natural ResourcesEvita Perón, Hugo Chávez, Fidel Castro, and Latin American Banana RepublicsThe Stunning Rise of China, and Mandarin-Speaking Guides in Parisian ShopsTransformational Leaders, Deng Xiaoping, Ronald Reagan, and Chinese Human RightsMarkets Over MaoAmerica and China, The Two Best Hopes for Tomorrow's CapitalismSingaporean State Capitalism, and Singapore AirlinesKorean Industrial Policy, Hyundai Car Jokes, and Samsung Galaxy PhonesLessons from Korea and SingaporeGovernment Bureaucrats as Parasites of Business, Businessmen as Parasites of the GovernmentA Suburban Garage in Los Altos, California, USASilicon Valleys in Russia and Malaysia, Shenzhen, Didi Chuxing, and WeChatThe Vast Unfulfilled Promise of India: Will History Be Kind to Narendra Modi?China's Growth Slowdown, the Grotesque Mutation of Capitalism, and Risk ParasitesRisk Tax, Entrepreneurial Capitalism, and Entrepreneurship 101US Subprime Mortgage Crisis and Global Financial Crisis, 2008–2009: A Short HistoryThe Free Bailout, Too Big to Fail, and Arsonist BankersPrivate Gain, Social Pain: The Blatant Greed and Arrogance of Wall StreetGood Finance, Evil Finance, Occupy Wall Street, and Mike MarkkulaEnding Subsidies for Wall Street, and Returning Finance to Its RootsThe Fed's Easy Money, the Greenspan Put, and the Bernanke Put: Another Massive Subsidy for Wall StreetElon Musk, Boyan Slat, and Green GrowthToward a Better Capitalism and Toward a Better World
Readership: General readers. Capitalism;Globalization;Inequality;Entrepreneur;Financial Industry;Government;Socialism;Market0Key Features:This book is a unique collection of short stories that collectively highlight the immense historical contribution of capitalism to human progress as well as its current malaiseThe short stories are self-contained and based on topical issues such as the rise of China as an economic heavyweight, Brexit, and the political success of Donald Trump. As such, virtually all readers will be able to easily relate to the bookThe book is highly accessible so that even readers with no background at all in economics or finance can fully understand it, yet substantive enough to be interesting and thought-provoking for even professional economists