The world is encountering multiple crises - climate, droughts, floods, energy, food, and pandemics, to name a few. Capitalism and Crises: How to Fix Them (Oxford UP, 2024) is about how capitalism can help fix them It has helped to cause because of a misconception about the nature of the system. There has been a failure to understand the key institution business. This book describes why this has happened and what needs to change to address it. At the core of the problem is the key driver of capitalism profit and the way in which those who run the system and provide it resources for it have been rewarded. Currently, profit comes from causing as well as solving problems. Drawing on history, philosophy, psychology, and biology as well economics, law, and finance, Mayer describes what has gone wrong and what needs to change. He sets out the big challenges that capitalism must address and discusses how financial institutions should be at the heart of this, and how the public sector can work with the private on a common purpose of creating shared prosperity. Capitalism and Crises is an inspiring and motivational roadmap.
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