Capitalism for Democrats: Why The Country Needs It Now
Reviewed By: Susan Keefe
Susan Keefe reviews and promotes poetry, fiction and non-fiction, and is also author of the Toby's Tails series of children's books.
Martin Lowy writes this informative book from a lifetimes experience as a lawyer. Banker, entrepreneur and writer. A lifelong centrist Democrat he asks his readers to take a little time out of their busy lives to consider what capitalism has achieved.
He then goes on to point out that capitalism works because it puts the control of the market into the hands of millions of people allowing them to make billions of decisions for the good of the people and economy, rather than entrusting that power to a few elites.
This book examines capitalism in depth. The author, using examples, graphs and references to three of his previous publications, explains the fundamentals of capitalism, and scrutinises it in detail. In doing so he looks at how capitalism affects and the lives of everyday people, its social impact through history, assesses its highs and lows, its global impact, equal opportunities, the free market and much more, and in doing so gives his readers all the information they require to make their own informed decision on the subject.
For me before reading this enlightening book the moral basis for choosing capitalism was simply because it puts the power into the hands of the ordinary people, however, reading this book I realised that this premise is naïve. Reading the author’s detailed examination of the subject, I finished his book feeling empowered by the knowledge of the subject gained from its pages.
At the end of the book, it is this paragraph which for me makes a very important and true point, ‘All human institutions are imperfect. The questions social scientists wrestle with are how to create institutions that work for large majorities of people to help them to live productive lives with respect and freedom from unwarranted intrusion. In creating such institutions, contradictions are inevitable. It is only through persistent good will that we can succeed in charting the best course through a changing world.’ In a nutshell, this is what capitalism aims to achieve.
This is an extremely educational and helpful book which clearly explains capitalism in an easy to understand format. Highly recommended – Susan Keefe TheColumbiaReview.com