Capitalism XXL : why the global economy became gigantic and how to fix it

A surprising diagnosis of our derailed economy – and suggested remedies. __Capitalism XXL__ calls for changing the rules of capitalism in order to tame giant corporations and restore the individual to the world economy. Noels proposes an approach that considers human dimensions and describes a sustainable future economy that will not burden subsequent generations with debt, social inequality, and environmental damage. Capitalism XXL: Why the Global Economy Became Gigantic and How to Fix It Cover Half Title Page Title Page Copyright Review Page CONTENTS INTRODUCTION 1 THE WORLD ECONOMY AND CAPITALISM ADRIFT: Adam Smith versus John Maynard Keynes Scale Brings Advantages, But the Disadvantages Are Underappreciated The Ultimate and Gigantic “Tragedy of the Commons”: Our Climate Cheating at Monopoly Turns into Gigantism 2 GIGANTISM? Size Matters Unhealthy Concentration in Many Sectors Higher Profits and Lower Wages in the Economy Conclusion: Bigger, More Concentrated, and More Powerful 3 GROWTH HORMONES THAT PROMOTE GIGANTISM Four Decades of Falling Interest Rates: The World’s Largest Lever Globalization Companies, Especially the Giants, Pay Less and Less Tax The Regulator, Friend of Big Business Technology Platforms Crony Capitalism Big Feels Safe Insufficient Action against Global Cartels Too Big to Fail Big Data Increasing Global Population Advertising Budgets Conclusion: Rampant Growth Hormones and a “Too Big to Fail” Corporate Doctrine Create Gigantism 4 THE CHAMPIONS LEAGUE EFFECT Gigantic Constructions Big Beers, Fewer Flavours Mainstream Taste Is Your Taste The Walmart-ization of Retail and the Economy Big Pharma: Diseases Are Big Business Big Tech: Each Has Its Own Monopoly Conclusion 5 GIGANTISM DISRUPTS SOCIETY Walmart-ization Leads to Obesity The Disappearing Middle Class Diseases of Affluence Big Government, Less Empathy Megacities Crush the Individual Derailing Demographics Crushes the Individual at the Expense of the Masses 6 FROM GROWTH OBSESSION TO SUSTAINABLE GROWTH Growth Is a Normal Human Ambition High Demographic Growth, or Growth by Stork Convergence: Follow the Leader Better Technology: Growth through Leadership What Then Is the Problem with Economic Growth? Sustainable Growth Giants and Zombies 7 SMALLER, SLOWER, AND MORE HUMAN Triggers of Decentralization and Size Reduction Technology as an Enabler of Smaller Organizations Human Preference The Failure of “Big” Robustness Loyalty Gigantism Is Not Irreversible Deglobalization City-States and Smaller Nations Are the Way Forward for Globalization 2.0 8 TEN STEPS TOWARDS POST-GIGANTISM The Referee and the Rules of the Game Referee Rules of the Game Players Saving Capitalism from Fake Capitalists CONCLUSIONS EPILOGUE NOTES BIBLIOGRAPHY "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."-- Provided by publisher

Our world is suffering from economic gigantism. Under thecurrent capitalist system huge companies and organizations arebecoming even larger and more powerful, creating a Champions Leagueeffect that kills healthy competition, doesn't consider sustainablegrowth, and leaves workers feeling pressured and susceptible toburnout. Capitalism XXL makes it clear that current rulesof capitalism favour bigness in an unfair way, and that a generalunease with the capitalist system is growing. The trend for bignessgoes beyond businesses: schools, hospitals, libraries, and allkinds of organizations, misled by economies of scale, haveconsolidated. A larger entity can seem attractive for itsshort-term financial gains, but the results produce enormous socialcosts. Rather than dismantling the capitalist system in favour ofneo-Marxism, Geert Noels argues, we have to instead go back to theroots of capitalism and embrace its traditional principles aswritten by Adam Smith in the eighteenth century. CapitalismXXL makes the case for changing the rules in order to tame thegiants and restore the individual to the world economy. Guided byhistory, Noels proposes an approach to capitalism that considersall human dimensions - social, ecological, and economic - anddescribes a sustainable future economy that will not burden thegenerations to come with debt, social inequality, and a naturalenvironment that is damaged beyond repair.

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.