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CAPITALISM

A GHOST STORY

Less a reasoned argument than an impassioned manifesto.

A vehement broadside against capitalism in general and American cultural imperialism in particular, focusing on the effects on the novelist’s native India.

After winning international raves and the prestigious Booker Prize for her debut novel (The God of Small Things, 1997), Roy (Walking with the Comrades, 2011, etc.) has become an increasingly political, polarizing and controversial writer, even charged with sedition in her homeland. “Day after day, on primetime news, I was being called a traitor, a white-collar terrorist, and several other names reserved for insubordinate women,” she writes. She also recognizes that, as someone “who lives off royalties from corporate publishing houses,” she risks biting the hand that feeds her. But her teeth are sharp, and her bite is fierce, as she focuses on how American corporate values and foundation philanthropy have had an insidious effect around the globe, resulting in a wider gap between the wealthy few and the impoverished masses. The influence extends from economics to education to arts and culture, as scholars in line with American values get funded and others see courses cancelled, while foundation support has had the same moderating effect elsewhere that it did in America, where it marginalized black militancy in favor of nonviolence. “Armed with their billions, these NGOs have waded into the world, turning potential revolutionaries into salaried activists, funding artists, intellectuals and filmmakers, gently luring them away from radical confrontation.” Like the Occupy movement, which Roy strongly supports, she sees class warfare as a political necessity that recognizes that systems of capitalist democracy require more than reform. Her accounts of political repression are vivid and moving, but her analysis would require more depth for her pontification to convert those who don’t already agree with it.

Less a reasoned argument than an impassioned manifesto.

Pub Date: April 21, 2014

ISBN: 978-1-60846-385-5

Page Count: 120

Publisher: Haymarket Books

Review Posted Online: Feb. 15, 2014

Kirkus Reviews Issue: March 1, 2014

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THINKING, FAST AND SLOW

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 3, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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REIMAGINING CAPITALISM IN A WORLD ON FIRE

A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.

A well-constructed critique of an economic system that, by the author’s account, is a driver of the world’s destruction.

Harvard Business School professor Henderson vigorously questions the bromide that “management’s only duty is to maximize shareholder value,” a notion advanced by Milton Friedman and accepted uncritically in business schools ever since. By that logic, writes the author, there is no reason why corporations should not fish out the oceans, raise drug prices, militate against public education (since it costs tax money), and otherwise behave ruinously and anti-socially. Many do, even though an alternative theory of business organization argues that corporations and society should enjoy a symbiotic relationship of mutual benefit, which includes corporate investment in what economists call public goods. Given that the history of humankind is “the story of our increasing ability to cooperate at larger and larger scales,” one would hope that in the face of environmental degradation and other threats, we might adopt the symbiotic model rather than the winner-take-all one. Problems abound, of course, including that of the “free rider,” the corporation that takes the benefits from collaborative agreements but does none of the work. Henderson examines case studies such as a large food company that emphasized environmentally responsible production and in turn built “purpose-led, sustainable living brands” and otherwise led the way in increasing shareholder value by reducing risk while building demand. The author argues that the “short-termism” that dominates corporate thinking needs to be adjusted to a longer view even though the larger problem might be better characterized as “failure of information.” Henderson closes with a set of prescriptions for bringing a more equitable economics to the personal level, one that, among other things, asks us to step outside routine—eat less meat, drive less—and become active in forcing corporations (and politicians) to be better citizens.

A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.

Pub Date: May 1, 2020

ISBN: 978-1-5417-3015-1

Page Count: 336

Publisher: PublicAffairs

Review Posted Online: Feb. 16, 2020

Kirkus Reviews Issue: March 15, 2020

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