Economic Sociology

Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve.

Karl Marx's Capital is one of the most important texts written in the modern era. Since 1867, when the first of its three volumes was published, it has had a profound effect on politics and economics in theory and practice throughout the world. But Marx wrote in the context of capitalism in the second half of the 19th century: his assumptions and analysis need to be updated in order to address the technological, economic, and industrial change that has followed Capital's initial publication.

With the appearance of Grunch of Giants, R. Buckminster Fuller consummates his literary canon, his panoramic lifetime survey of all aspects of the responsibility of human beings for their own destiny. This book is a modern allegory - his long-gestated myth-of the villainy of capitalism and the fecklessness of classic economics. For Fuller, the academic discipline of economics is irrelevant since it derives from an invalid assumption of scarcity.

How do the rich keep getting richer, while dodging the long arm of the law? The ultra-rich seem to live in a different world from the rest of us. That world is called offshore. Hidden from view, the world's ultra-rich can use offshore finance to escape tax obligations, labor and environmental safety regulations, campaign finance rules, and other laws that get in their way.

The world-renowned philosopher and author of the best-selling Justice explores the central question of our time: What has become of the common good? World-renowned philosopher Michael J. Sandel argues that to overcome the crises that are upending our world, we must rethink the attitudes toward success and failure that have accompanied globalization and rising inequality. Sandel shows the hubris a meritocracy generates among the winners and the harsh judgment it imposes on those left behind, and traces the dire consequences across a wide swath of American life.

From everyday apps to complex algorithms, Ruha Benjamin cuts through tech-industry hype to understand how emerging technologies can reinforce white supremacy and deepen social inequity. Benjamin argues that automation, far from being a sinister story of racist programmers scheming on the dark web, has the potential to hide, speed up, and deepen discrimination while appearing neutral and even benevolent when compared to the racism of a previous era.

Discrimination and Disparities challenges believers in such one-factor explanations of economic outcome differences as discrimination, exploitation, or genetics. It is listenable enough for people with no prior knowledge of economics. Yet the empirical evidence with which it backs up its analysis spans the globe and challenges beliefs across the ideological spectrum.

Kelly argues instead for the democratization of ownership, including public ownership of vital services, worker-owned businesses, and more. She sketches the outlines of a nonextractive capitalism that would be subordinate to the public interest. This is an ambitious reimagining of the very foundations of our economy and society.

In The Two-Parent Privilege, Melissa S. Kearney makes a data-driven case for marriage by showing how the institution's decline has led to a host of economic woes—problems that have fractured American society and rendered vulnerable populations even more vulnerable.

The dramatic story of an improbable gang of self-proclaimed “degenerates” who made WallStreetBets into a cultural movement that moved from the fringes of the internet to the center of Wall Street, upending the global financial markets and changing how an entire generation thinks about money, investing, and themselves.

Our era is one of significant and substantial loss, of unraveling hopes and expectations, of dreams curtailed, of aspirations desiccated. At the same time, we are denied the means of mourning the futures that are being so brutally curtailed. At such a moment, taking the time to grieve is a radical act. Through in-depth reporting intertwined with memoir, Sarah Jaffe shows how public memorialization has become more than a refusal or a protest: it is a path to imagining a better world.

In an astonishing, tough firsthand reportage, Chris Hedges draws on stories from inside communities across America and reveals how the hurricanes of change have allowed an array of pathologies to arise: the opioid crisis, the retreat into gambling, the corporate coup d'état of government, the pornification of culture, the rise of magical thinking, the emboldening of violence and hate, the plagues of suicides, and the global upheaval caused by catastrophic climate change.

Millions of Americans have lost confidence in our political and economic system. After years of stagnant wages, volatile job markets, and an unwillingness by those in power to deal with profound threats such as climate change, there is a mounting sense that the system is fixed, serving only those select few with enough money to secure a controlling stake. With the characteristic clarity and passion that has made him a central civil voice, Robert B. Reich shows how wealth and power have interacted to install an elite oligarchy, eviscerate the middle class, and undermine democracy.

Catherine Coleman Flowers grew up in Lowndes County, Alabama, a place that’s been called “Bloody Lowndes” because of its violent, racist history. Once the epicenter of the voting rights struggle, today it’s Ground Zero for a new movement that is Flowers’s life’s work. It’s a fight to ensure human dignity through a right most Americans take for granted: basic sanitation. Too many people, especially the rural poor, lack an affordable means of disposing cleanly of the waste from their toilets, and, as a consequence, live amid filth.

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.

Trauma surgeon Dr. Brian H. Williams has seen it all—gunshot wounds, stabbings, traumatic brain injuries—and ushers us into the trauma bay, where the wounds of a national emergency amass. As a Harvard-trained physician, he learned to keep his head down and his scalpel ready. As a Black man, he learned to swallow rage when patients told him to take out the trash. Just days after the tragic police shootings of two Black men, he tried to save the lives of officers shot in the deadliest incident for US law enforcement since 9/11.

What Can We Learn from the Great Depression? draws on the voices of individual working people to tell the stories left out of standard histories of that era, and helps us imagine how to address our own failed economy, and how to imagine and build movements challenging it that do not themselves replicate racism and patriarchy.

We are living in a strange world—Salmon calls it “the New Not Normal.” The Phoenix Economy explores the ramifications of the pandemic years, many of which are surprisingly positive. In doing so, Salmon makes sense of one of the most disorienting and devastating events of our lifetimes. He examines the critical aspects of our lives that have been transformed in three parts: Time and Space, Mind and Body, and Business and Pleasure.

We are living through a Long Emergency: a near-continuous train of pandemics, heatwaves, droughts, resource wars, and other climate-driven disasters. In Lifehouse, Adam Greenfield asks what might happen if the tactics and networks of care that spring up in response to these times might be brought together in a single, coherent way of life?

Over the past decade, Americans watched in bafflement and rage as one institution after another - from Wall Street to Congress, the Catholic Church to corporate America, even Major League Baseball - imploded under the weight of corruption and incompetence. In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters. How did we get here? Christopher Hayes offers a radically novel answer.