Only capitalism maximized both growth and individual freedom. Unlike socialism, capitalism is adaptive, not rigid – private ownership of the means of production flourishes wherever it takes root, regardless of culture. Laws intended to tamper with its fundamental dynamics, such as those that redistribute wealth, fail. Capitalism does not solve all problems efficiently; its problems stem from universal human weaknesses – such as dishonesty, venality, and expediency – which are not specific to capitalism.

(ECONOMY * CAPITALISM DEFENDED)

Economists make assumptions about the world, and use those assumptions to build imaginary economies (models), from which they generate conclusions. Overviews rival assumptions and models reaching back to Adam Smith and forward to theorists today. Economists are in large part accountable for current controversies such as the financial crisis and income inequality; although theorists have won acclaim for creating models that demonstrate the inherent instability of markets, ostensibly practical economists ignored these accepted theories and instead relied on blind faith in the invisible hand of unregulated enterprise.

(ECONOMY * ECONOMISTS’ ASSUMPTIONS)

On how low- and moderate-income households cope with financial stress, use financial markets to make ends meet, and often come up short. Draws on an in-depth survey of 1,000 households in metropolitan Detroit to find that high-cost financial services, barriers to saving, lack of insurance, and credit constraints contribute to poverty and other socioeconomic problems. Explores how insights from behavioral economics can contribute to private and governmental sector initiatives to improve financial services for households and lead to better financial services regulation.

(ECONOMY * FINANCIAL SERVICES IMPROVEMENT)

The 20th annual report issued by the Worldwatch Institute, one of the major environmental think tanks in the world, analyzes progress toward building sustainable economies and offers a new perspective on what changes are necessary to make sustainability a permanent feature of the world’s economies.

(SUSTAINABILITY * ECONOMY)

The shift from an American economy based primarily on the production of goods and nonfinancial services to one characterized by financialization contributed to the recent financial crisis; it also prevents implementation of an effective regulatory regime. Unsustainable debt and excessive risk damaged the financial system. Once the markets stabilized after the economic crisis, the US enacted regulatory reforms that left the basic structures of finance unchanged. Discusses the likelihood of future crises, world systems and globalization, and the willful blind spots of mainstream finance theory. Proposes a social structure of accumulation that values economic justice over profit and establishes the parameters of an inclusive, sustainable growth model.

(ECONOMIC CRISIS * CAPITALISM RESTRUCTURED * ECONOMY RESTRUCTURED)

Explains how an economy that once led the world in terms of output and technological innovation fell behind Europe and North America, and how now has reemerged as a global economic superpower. Reviews successes and failures of reform and development in China and advances a general theory of economic transition and development. Analyzes China’s major economic and social problems, the reasons for these problems, and suggested solutions.

(CHINA’S ECONOMY * CHINA)

Analyzes the economic challenges faced by symphony orchestras and contrasts the experience of orchestras in the US (where there is little direct government support) and abroad (where governments typically provide large subsidies). Analyzes three strategies to address economic challenges (raising performance revenues, slowing the growth of expenses, and increasing nonperformance income), none of which alone is likely to provide security. (also as e-book)

(SYMPHONY ORCHESTRAS * ORCHESTRA ECONOMICS)

Europeans save at high rates despite their generous welfare programs and aging populations, while Americans save little, spend much, and borrow excessively, despite weaker social safety nets and a younger population. Other nations aggressively encourage their citizens to save by means of special savings institutions and savings campaigns; by contrast, the US government and businesses promote mass consumption and reliance on credit. Institutions and moral suasion shape habits of saving and spending; in America they normalize practices of living beyond one’s means.

(SOCIETY * ECONOMY * SAVING: U.S. AND WORLD)

The UN proclaimed that 2012 would be the International Year of Cooperatives – businesses or associations equally owned and controlled by the people who use their services. Cooperatives have proven resilient in the wake of global financial crisis, compared with investor-led businesses and financial companies, which demonstrates that cooperation offers a much needed alternative for organizing economic and social affairs. Includes chapters on education, fair trade, politics and governance, planning, and sustainability.

(ECONOMY * BUSINESS * COOPERATIVES)

Social Security is in jeopardy, private pensions have fallen apart, and workers are trying to save on their own for retirement. Forewarnings of the coming retirement crisis have been apparent for decades, but we never mustered the political will to address the problem. Provides a compact history of Social Security, pension plans, and other retirement options, and suggests how we can reform our retirement system. If we do not do so, “we will severely jeopardize the prosperity of younger generations.

(ECONOMY * RETIREMENT CRISIS AHEAD * SOCIAL SECURITY CRISIS AHEAD)