Capitalism XXL: Why the Global Economy Became Gigantic and How to Fix It (Hardcover)

Capitalism XXL: Why the Global Economy Became Gigantic and How to Fix It By Geert Noels Cover Image

Capitalism XXL: Why the Global Economy Became Gigantic and How to Fix It (Hardcover)


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Our world is suffering from economic gigantism. Under the current capitalist system huge companies and organizations are becoming even larger and more powerful, creating a Champions League effect that kills healthy competition, doesn’t consider sustainable growth, and leaves workers feeling pressured and susceptible to burnout.Capitalism XXL makes it clear that current rules of capitalism favour bigness in an unfair way, and that a general unease with the capitalist system is growing. The trend for bigness goes beyond businesses: schools, hospitals, libraries, and all kinds of organizations, misled by economies of scale, have consolidated. A larger entity can seem attractive for its short-term financial gains, but the results produce enormous social costs. Rather than dismantling the capitalist system in favour of neo-Marxism, Geert Noels argues, we have to instead go back to the roots of capitalism and embrace its traditional principles as written by Adam Smith in the eighteenth century.Capitalism XXL makes the case for changing the rules in order to tame the giants and restore the individual to the world economy. Guided by history, Noels proposes an approach to capitalism that considers all human dimensions – social, ecological, and economic – and describes a sustainable future economy that will not burden the generations to come with debt, social inequality, and a natural environment that is damaged beyond repair.
Geert Noels is a macro-economist, frequent commentator on financial and economic topics, and co-founder of Econopolis.
Product Details ISBN: 9780228016908
ISBN-10: 0228016908
Publisher: McGill-Queen's University Press
Publication Date: May 15th, 2023
Pages: 208
Language: English
“In an age when bigger is assumed to be better, Geert Noels warns of the perils of size – and makes a convincing case for the benefits of going small. Not only is small beautiful; it is also more economically viable in the long run. Do yourself a big favour and read Capitalism XXL.” Eric Weiner, author of The Geography of Genius: Lessons from the World’s Most Creative Places

“The ‘winner takes all’ effect is a hot topic today. However, where most economists are focusing on the impact on margins and profits or productivity, Geert Noels takes a wider look at the impact of large systems on mental well-being, communities, and our climate problems.” Pattie Maes, founder of MIT Media Lab’s Fluid Interfaces Group

“In an era when tech giants shake the earth like dinosaurs, how should we respond? Amazon merely mentions interest in a sector, and all of the companies there lose 20 percent of their value. Facebook monetizes its users’ data like it’s a division of the National Security Agency. Geert Noels explains the cure for corporate gigantism.” Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy