‘Outdated and unjust’: can we reform global capitalism?

In 'How the World Ran Out of Everything', Peter S. Goodman explores the intricate and fragile nature of the global supply chain. He delves into the stories of various individuals involved in the supply chain, from factory workers in Asia to an almond grower in Northern California, and a truck driver crossing the Great Plains. Goodman argues that the supply chain's constant vulnerability is due to financial interests, lack of transparency, and worsening working conditions. He makes a compelling case for reform, advocating for a radical redrawing of the bargain between labor and shareholders to ensure the supply chain's reliability and resilience.

In this influential book, Hayek argues that the abandonment of individualism and classical liberalism leads to a loss of freedom, the creation of an oppressive society, and ultimately, the tyranny of a dictator. He challenges the view that fascism and Nazism are capitalist reactions against socialism, instead positing that these ideologies share common roots in central economic planning and the empowerment of the state over the individual. The book emphasizes the dangers of collectivism and the importance of maintaining a free market system to preserve human freedom and dignity.

Prosperity Without Growth argues that economic growth is unsustainable and does not necessarily lead to increased human well-being. The book proposes a post-growth economy that prioritizes social investment, reduces inequality, and supports ecological stability. It challenges the assumption that perpetual growth is necessary for prosperity and outlines pathways towards a sustainable future.

Published in 1973, 'Small Is Beautiful' critiques mainstream economics by advocating for sustainable development, small-scale technologies, and community-centered economic policies. The book is divided into four parts: 'The Modern World', 'Resources', 'The Third World', and 'Organization and Ownership'. Schumacher argues that economic growth must be balanced with the needs of communities and the environment, and he introduces the concept of 'Buddhist economics', which emphasizes human needs and limitations. The book has been highly influential, inspiring movements such as 'Buy Local' and 'Fair Trade', and was ranked among the 100 most influential books since World War II by 'The Times Literary Supplement'.