On the Edge: Living With Global Capitalism

Post Cold War-- with the triumph of western-style democracy and an explosion of powerful new technologies--it seems increasingly probable that we are living through the greatest of all revolutions, inexorably drawing in every corner of our once huge globe. So what are the implications? Global capitalism, as the title of On the Edge suggests, is "precarious and potentially dangerous", and when this sentiment is evinced by Will Hutton, author of the agenda-setting The State We're In, and Anthony Giddens, director of the London School of Economics and famously Tony Blair's most favoured "guru of the third way", it is to be taken seriously.

They bring together 10 original contributions by some of the leading thinkers of our day that shed show more light on various aspects of global capitalism and globalisation. Global finance, naturally, figures prominently: George Soros discusses the need for a new global financial architecture, Manuel Castells outlines his concept of the "Automaton", while Paul Volcker examines ways of mitigating the less desirable nature of the market. All of this is done in a style that will be accessible to the reasonably knowledgeable layman, though of course a doctorate in economics always helps when the figures and jargon do, unavoidably, creep in. Further contributions examine areas such as the effect of globalisation on regional and national cultures and on our own individual identities, just exactly what role democratically elected governments can find for themselves as more and more real power ebbs away from them, and the relationship between the haves and the have-nots, both countries and people, which tends to be increasingly iniquitous. All the contributors seem to agree in one respect--within global capitalism there is enormous capacity for good, for the betterment of all of humanity, but conversely, there is an inherent potential for outcomes that most would consider altogether disagreeable. For anyone interested in helping to guide us closer to the former--and we are all stakeholders now--this will be a valuable, thought-provoking resource.

This collection of essays charts the contours of contemporary capitalism, analyses the role of the business firm in the new context of innovation and competitiveness, discuses the impact of globalisation, and considers new capitalism. show less