“With university classrooms and libraries shuttered because of the COVID-19 crisis, scholars are facing disruptions not only in their teaching lives but also in their ability to access research materials. In response, many academic presses have made hundreds of their titles freely accessible online,” notices the website Public Books, which is maintaining a list of publishers who have made available free books. Moral Markets went through their list to select books of interest in the area of the ethics of markets, capitalism, economics & business.

Market Affect and the Rhetoric of Political Economic Debates
By Catherine Chaput, University of South Carolina Press, 2019

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What explains the “triumph of capitalism”? Why do people so often respond positively to discussions favoring it while shutting down arguments against it? Overwhelmingly theories regarding capitalism’s resilience have focused on individual choice bolstered by careful rhetorical argumentation. In this penetrating study, however, Catherine Chaput shows that something more than choice is at work in capitalism’s ability to thrive in public practice and imagination—more even than material resources (power) and cultural imperialism (ideology). That “something,” she contends, is market affect.

Affect, says Chaput, signifies a semi-autonomous entity circulating through individuals and groups. Physiological in nature but moving across cultural, material, and environmental boundaries, affect has three functions: it opens or closes individual receptivity; it pulls or pushes individual identification; and it raises or lowers individual energies. This novel approach begins by connecting affect to rhetorical theory and offers a method for tracking its three modalities in relation to economic markets. Each of the following chapters compares a major theorist of capitalism with one of his important critics, beginning with the juxtaposition of Adam Smith and Karl Marx, who set the agenda not only for arguments endorsing and critiquing capitalism but also for the affective energies associated with these positions. Subsequent chapters restage this initial debate through pairs of economic theorists—John Maynard Keynes and Thorstein Veblen, Friedrich Hayek and Theodor Adorno, and Milton Friedman and John Kenneth Galbraith—who represent key historical moments. In each case, Chaput demonstrates, capitalism’s critics have fallen short in their rhetorical effectiveness.

Chaput concludes by exploring possibilities for escaping the straitjacket imposed by these debates. In particular she points to the biopolitical lectures of Michel Foucault as offering a framework for more persuasive anticapitalist critiques by reconstituting people’s conscious understandings as well as their natural instincts.

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Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality
By Daniel Scott Souleles, University of Nebraska Press, 2019

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Since the early 1980s, private equity investors have heralded and shepherded massive changes in American capitalism. From outsourcing to excessive debt taking, private equity investment helped normalize once-taboo business strategies while growing into an over $3 trillion industry in control of thousands of companies and millions of workers. Daniel Scott Souleles opens a window into the rarefied world of private equity investing through ethnographic fieldwork on private equity financiers. Songs of Profit, Songs of Loss documents how and why investors buy, manage, and sell the companies that they do; presents the ins and outs of private equity deals, management, and valuation; and explains the historical context that gave rise to private equity and other forms of investor-led capitalism.

In addition to providing invaluable ethnographic insight, Songs of Profit, Songs of Loss is also an anthropological study of inequality as Souleles connects the core components of financial capitalism to economic disparities. Souleles uses local ideas of “value” and “time” to frame the ways private equity investors comprehend their work and to show how they justify the prosperity and poverty they create. Throughout, Souleles argues that understanding private equity investors as contrasted with others in society writ large is essential to fully understanding private equity within the larger context of capitalism in the United States.

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Values at Work is an analysis of organizational dynamics with wide-ranging implications in an age of market globalization. It looks at the challenges businesses face to maintain people-oriented work systems while remaining successful in the larger economy. George Cheney revisits the famous Mondragón worker-owned-and-governed cooperatives in the Basque Country of Spain to examine how that collection of innovative and democratic businesses is responding to the broad trend of marketization.

The Mondragón cooperatives are changing in important ways as a direct result of both external pressures to be more competitive and the rise of consumerism, as well as through the modification of internal policies toward greater efficiency. One of the most remarkable aspects of the changes is that some of the same business slogans now heard around the globe are being adopted in this set of organizations renowned for its strongly held internal values, such as participatory democracy, solidarity, and equality. Instead of emphasizing the special or unique qualities of the Mondragón experience, this book demonstrates the case’s relevance to trends in all sectors and across the industrialized world.

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Moral Aspects of Economic Growth, and Other Essays
By Barrington Moore, Jr., Cornell University Press, 2018

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Barrington Moore, Jr., one of the most distinguished thinkers in critical theory and historical sociology, was long concerned with the prospects for freedom and decency in industrial society. The product of decades of reflection on issues of authority, inequality, and injustice, this volume analyzes fluctuating moral beliefs and behavior in political and economic affairs at different points in history, from the early Middle Ages in England to the prospects for liberalism under twentieth-century Soviet socialism. The social sources of antisocial behavior; principles of social inequality; and the origins, enemies, and possibilities of rational discussion in public affairs—these are among the topics Moore considers as he seeks to uncover the historical causes of some accepted forms of morality and to assess their social consequences.
The keynote essay examines how moral codes grew out of commercial practices in England from medieval times through the industrial revolution. Moore pays special attention to conceptions of honesty and the temptation to evade that inform the volume as a whole. In the other essays, he considers particular political issues, viewing “political” in its broadest sense as an unequal distribution of power and authority that carries a strong moral charge. Free of preaching and advocacy, his work offers a rare reasonable assessment of the morality of major social institutions over time.

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Undoing Work, Rethinking Community: A Critique of the Social Function of Work
By James A. Chamberlain, Cornell University Press, 2018

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This revolutionary book presents a new conception of community and the struggle against capitalism. In Undoing Work, Rethinking Community, James A. Chamberlain argues that paid work and the civic duty to perform it substantially undermines freedom and justice. Chamberlain believes that to seize back our time and transform our society, we must abandon the deep-seated view that community is constructed by work, whether paid or not.

Chamberlain focuses on the regimes of flexibility and the unconditional basic income, arguing that while both offer prospects for greater freedom and justice, they also incur the risk of shoring up the work society rather than challenging it. To transform the work society, he shows that we must also reconfigure the place of paid work in our lives and rethink the meaning of community at a deeper level. Throughout, he speaks to a broad readership, and his focus on freedom and social justice will interest scholars and activists alike. Chamberlain offers a range of strategies that will allow us to uncouple our deepest human values from the notion that worth is generated only through labor.

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A former banker and staff member of the International Monetary Fund, Louis W. Pauly explains why people are deeply concerned about the emergence of a global economy and the increasingly integrated capital markets at its heart. In nations as diverse as France, Canada, Russia, and Mexico, the lives of citizens are disrupted when national policy falls out of line with the expectations of international financiers. Such dilemmas, ever more conspicuous around the world, arise from the disjuncture between a rapidly changing international economic system and a political order still constituted by sovereign states.

The evolution of global capital markets inspires an understandable fear among people that the governing authorities accountable to them are losing the power to make substantive decisions affecting their own material prospects and those of their children. Pauly points out that today’s capital markets resulted from decisions taken over many years by sovereign states, and particularly by the leading industrial democracies, who simultaneously crafted the instrument of multilateral economic surveillance. The effort to build adequate political foundations for global capital markets spans the twentieth century and links the histories of such institutions as the League of Nations, the International Monetary Fund, the European Union, and the Group of Seven.

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A Measure of Fairness: The Economics of Living Wages and Minimum Wages in the United States
By Robert Pollin, Mark Brenner, Stephanie Luce, and Jeannette Wicks-Lim, Cornell University Press, 2018

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In early 2007, there were approximately 140 living wage ordinances in place throughout the United States. Communities around the country frequently debate new proposals of this sort. Additionally, as a result of ballot initiatives, twenty-nine states and the District of Columbia, representing nearly 70 percent of the total U.S. population, maintain minimum wage standards above those set by the federal minimum wage.

In A Measure of Fairness, Robert Pollin, Mark Brenner, Jeannette Wicks-Lim, and Stephanie Luce assess how well living wage and minimum wage regulations in the United States serve the workers they are intended to help. Opponents of such measures assert that when faced with mandated increases in labor costs, businesses will either lay off workers, hire fewer low-wage employees in the future, replace low-credentialed workers with those having better qualifications or, finally, even relocate to avoid facing the increased costs being imposed on them.

The authors give an overview of living wage and minimum wage implementation in Louisiana, New Mexico, Arizona, California, Massachusetts, and Connecticut to show how these policies play out in the paychecks of workers, in the halls of legislature, and in business ledgers. Based on a decade of research, this volume concludes that living wage laws and minimum wage increases have been effective policy interventions capable of bringing significant, if modest, benefits to the people they were intended to help.

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The 1990s were years of turmoil and transformation in American work experiences and employment relationships. Trends including the growth of contingent labor, the erosion of the stable employment contract, the restructuring of jobs and companies, and the emergence of opportunity-enhancing employee participation programs reconfigured occupations, career paths, and labor market opportunities. Vicki Smith analyzes this shift, asking how workers navigated their way across the divide between bad jobs and good jobs, between jobs organized hierarchically and jobs requiring greater worker involvement, and between temporary and stable work.

Crossing the Great Divide uses original case study data from four diverse organizational settings around the country. Smith compares the situations of nonunionized, white-collar workers at a photocopy service firm; unionized blue-collar workers in a wood-products processing factory; temporary assemblers and clerical workers in a high-tech firm; and unemployed managers, technical workers, and professionals participating in a job search club.

The very different experiences revealed in Crossing the Great Divide highlight the way diverse new relationships between companies and their employees play out in workplaces, where new forms of work organization simultaneously create opportunity, instability, and risk for workers. Smith’s goal is to construct a new framework of employment that accommodates the unpredictability and turbulence of the 21st century, but that is also “characterized at its core by attachment, reward, protection, commitment, and dignity.”

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Democracy and Markets: The Politics of Mixed Economies
By John R. Freeman, Cornell University Press, 2018

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Events of the 1970s and 1980s have provoked intense controversy about the desirability of existing political and economic institutions. On the basis of an analysis of social welfare in varying types of market systems and in certain democratic political systems, Democracy and Markets illuminates alternative directions for institutional reform. Examining in detail the experiences of several democratic European countries, John R. Freeman considers whether a mixed ownership structure is preferable to a private ownership structure; and whether a pluralist type of democratic politics is preferable to a corporatist type.

Freeman compares the benefits of the two economic and two political systems separately, and then analyzes the workings of four basic political economies. This analysis yields a welfare taxonomy for alternative forms of democratic capitalism and more specifically a characterization of the blends of collective gain and distributional equity that can be achieved in the four systems. Freeman demonstrates the validity of this taxonomy through an empirical investigation of the political economies of Britain, Austria, Sweden, and Italy. Under current conditions, he concludes, the corporatist-mixed system produces the most desirable blend of welfare outcomes.

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Consuming with a conscience is one of the fastest growing forms of political participation worldwide. Every day we make decisions about how to spend our money and, for the socially conscious, these decisions matter. Political consumers “buy green” for the environment or they “buy pink” to combat breast cancer. They boycott Taco Bell to support migrant workers or Burger King to save the rainforest.

But can we overcome the limitations of consumer identity, the conservative pull of consumer choice, co-optation by corporate marketers, and other pitfalls of consumer activism in order to marshal the possibilities of consumer power? Can we, quite literally, shop for change? Shopping for Change brings together the historical and contemporary perspectives of academics and activists to show readers what has been possible for consumer activists in the past and what might be possible for today’s consumer activists.

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Can We Price Carbon?
By Barry G. Rabe, The MIT Press, 2018

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A political science analysis of the feasibility and sustainability of carbon pricing, drawing from North American, European, and Asian case studies.

Climate change, economists generally agree, is best addressed by putting a price on the carbon content of fossil fuels—by taxing carbon, by cap-and-trade systems, or other methods. But what about the politics of carbon pricing? Do political realities render carbon pricing impracticable? In this book, Barry Rabe offers the first major political science analysis of the feasibility and sustainability of carbon pricing, drawing upon a series of real-world attempts to price carbon over the last two decades in North America, Europe, and Asia.

Rabe asks whether these policies have proven politically viable and, if adopted, whether they survive political shifts and managerial challenges over time. The entire policy life cycle is examined, from adoption through advanced implementation, on a range of pricing policies including not only carbon taxes and cap-and-trade but also such alternative methods as taxing fossil fuel extraction. These case studies, Rabe argues, show that despite the considerable political difficulties, carbon pricing can be both feasible and durable.

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Protest Politics in the Marketplace: Consumer Activism in the Corporate Age
By Caroline Heldman, Cornell University Press, 2017

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Protest Politics in the Marketplace examines how social media has revolutionized the use and effectiveness of consumer activism. In her groundbreaking book, Caroline Heldman emphasizes that consumer activism is a democratizing force that improves political participation, self-governance, and the accountability of corporations and the government. She also investigates the use of these tactics by conservatives.

Heldman analyzes the democratic implications of boycotting, socially responsible investing, social media campaigns, and direct consumer actions, highlighting the ways in which such consumer activism serves as a countervailing force against corporate power in politics. In Protest Politics in the Marketplace, she blends democratic theory with data, historical analysis, and coverage of consumer campaigns for civil rights, environmental conservation, animal rights, gender justice, LGBT rights, and other causes. Using an inter-disciplinary approach applicable to political theorists and sociologists, Americanists, and scholars of business, the environment, and social movements, Heldman considers activism in the marketplace from the Boston Tea Party to the present. In doing so, she provides readers with a clearer understanding of the new, permanent environment of consumer activism in which they operate.

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Events of the 1970s and 1980s have provoked intense controversy about the desirability of existing political and economic institutions. On the basis of an analysis of social welfare in varying types of market systems and in certain democratic political systems, Democracy and Markets illuminates alternative directions for institutional reform. Examining in detail the experiences of several democratic European countries, John R. Freeman considers whether a mixed ownership structure is preferable to a private ownership structure; and whether a pluralist type of democratic politics is preferable to a corporatist type.

Freeman compares the benefits of the two economic and two political systems separately, and then analyzes the workings of four basic political economies. This analysis yields a welfare taxonomy for alternative forms of democratic capitalism and more specifically a characterization of the blends of collective gain and distributional equity that can be achieved in the four systems. Freeman demonstrates the validity of this taxonomy through an empirical investigation of the political economies of Britain, Austria, Sweden, and Italy. Under current conditions, he concludes, the corporatist-mixed system produces the most desirable blend of welfare outcomes.

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Hard Sell: Work and Resistance in Retail Chains
By Peter Ikeler, Cornell University Press, 2016

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Along with fast-food workers, retail workers are capturing the attention of the public and the media with the Fight for $15. Like fast-food workers, retail workers are underpaid, and fewer than 5 percent of them belong to unions. In Hard Sell, Peter Ikeler traces the low-wage, largely nonunion character of U.S. retail through the history and ultimate failure of twentieth-century retail unionism. He asks pivotal questions about twenty-first-century capitalism: Does the nature of retail work make collective action unlikely? Can working conditions improve in the absence of a union? Is worker consciousness changing in ways that might encourage or further inhibit organizing? Ikeler conducted interviews at New York City locations of two iconic department stores—Macy’s and Target. Much of the book’s narrative unfolds from the perspectives of these workers in America’s most unequal city.

When he speaks to workers, Ikeler finds that the Macy’s organization displays an adversarial relationship between workers and managers and that Target is infused with a “teamwork” message that enfolds both parties. Macy’s workers identify more with their jobs and are more opposed to management, yet Target workers show greater solidarity. Both groups, however, are largely unhappy with the pay and precariousness of their jobs. Combined with workplace-generated feelings of unity and resistance, these grievances provide promising inroads to organizing that could help take the struggle against inequality beyond symbolic action to real economic power.

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How can the simple choice of a men’s suit be a moral statement and a political act? When the suit is made of free-labor wool rather than slave-grown cotton. In Moral Commerce, Julie L. Holcomb traces the genealogy of the boycott of slave labor from its seventeenth-century Quaker origins through its late nineteenth-century decline. In their failures and in their successes, in their resilience and their persistence, antislavery consumers help us understand the possibilities and the limitations of moral commerce.

Quaker antislavery rhetoric began with protests against the slave trade before expanding to include boycotts of the use and products of slave labor. For more than one hundred years, British and American abolitionists highlighted consumers’ complicity in sustaining slavery. The boycott of slave labor was the first consumer movement to transcend the boundaries of nation, gender, and race in an effort by reformers to change the conditions of production. The movement attracted a broad cross-section of abolitionists: conservative and radical, Quaker and non-Quaker, male and female, white and black.

The men and women who boycotted slave labor created diverse, biracial networks that worked to reorganize the transatlantic economy on an ethical basis. Even when they acted locally, supporters embraced a global vision, mobilizing the boycott as a powerful force that could transform the marketplace. For supporters of the boycott, the abolition of slavery was a step toward a broader goal of a just and humane economy. The boycott failed to overcome the power structures that kept slave labor in place; nonetheless, the movement’s historic successes and failures have important implications for modern consumers.

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A World Made for Money: Economy, Geography, and the Way We Live Today
By Brett Wallach, University of Nebraska Press, 2015

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A spirited and incisive survey of economic geography, A World Made for Money begins with the author stopped at a red light in Norman, Oklahoma. Observing the landscape of drugstores and banks, and for that matter the stoplight and roads themselves, Bret Wallach observes, “Everything I see has been built to make money” or, at the very least, to facilitate making money. This, he argues, is a global phenomenon that nonetheless has occurred only within the past hundred years or so. Although guidebooks and culture brokers often disparage these landscapes of commerce, Wallach—recipient of a MacArthur “genius grant”—argues that we would do well to pay them close attention.

 

A World Made for Money provides a compelling, condensed tour of our world. From Silicon Valley to Sri Lanka, from post-Soviet Russia to post-apartheid South Africa, Wallach looks at how human beings are buying, manufacturing, working, growing and shipping food, and accessing the natural resources to fuel it all. These essential facets of daily life, propelled by the profit motive, represent a transnational force shaping our surroundings and environment in ways that may not always be beautiful (or even healthy) but that are fundamental to understanding how the world works in the twenty-first century. Wallach examines the relationship between acquisitiveness and landscape, reveals surprising contradictions and nuances, and provides fresh perspective on politically charged topics such as sprawl, deindustrialization, and agribusiness.

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Greening the Global Economy
By Rober Pollin, The MIT Press, 2015

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In order to control climate change, the International Panel on Climate Change (IPCC) estimates that greenhouse gas emissions will need to fall by about forty percent by 2030. Achieving the target goals will be highly challenging. Yet in Greening the Global Economy, economist Robert Pollin shows that they are attainable through steady, large-scale investments — totaling about 1.5 percent of global GDP on an annual basis — in both energy efficiency and clean renewable energy sources. Not only that: Pollin argues that with the right investments, these efforts will expand employment and drive economic growth.Drawing on years of research, Pollin explores all aspects of the problem: how much energy will be needed in a range of industrialized and developing economies; what efficiency targets should be; and what kinds of industrial policy will maximize investment and support private and public partnerships in green growth so that a clean energy transformation can unfold without broad subsidies. All too frequently, inaction on climate change is blamed on its potential harm to the economy. Pollin shows greening the economy is not only possible but necessary: global economic growth depends on it.

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Resisting Work: The Corporatization of Life and Its Discontents
By Peter Fleming, Temple University Press, 2014

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In his provocative book, Resisting Work Peter Fleming insists that many jobs in the West are now regulated by a new matrix of power-biopower-where “life itself” is put to work through our ability to self-organize around formal rules. This neoliberal system of employment tries to absorb our life attributes–from our consumer tastes, “downtime,” and sexuality–into employment so that questions of human capital and resources replace questions of employee, worker, and labor.  

Fleming then suggests that the corporation turns to communal life-what he calls “the common”-in order to reproduce itself and reinforce corporate culture.  Yet a resistance against this new definition of work is in effect, and Fleming shows how it may already be taking shape.

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Food Co-ops in America: Communities, Consumption, and Economic Democracy
By Anne Meis Knupfer, Cornell University Press, 2013

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In recent years, American shoppers have become more conscious of their food choices and have increasingly turned to CSAs, farmers’ markets, organic foods in supermarkets, and to joining and forming new food co-ops. In fact, food co-ops have been a viable food source, as well as a means of collective and democratic ownership, for nearly 180 years.

In Food Co-ops in America, Anne Meis Knupfer examines the economic and democratic ideals of food cooperatives. She shows readers what the histories of food co-ops can tell us about our rights as consumers, how we can practice democracy and community, and how we might do business differently. In the first history of food co-ops in the United States, Knupfer draws on newsletters, correspondence, newspaper coverage, and board meeting minutes, as well as visits to food co-ops around the country, where she listened to managers, board members, workers, and members.

What possibilities for change-be they economic, political, environmental or social-might food co-ops offer to their members, communities, and the globalized world? Food co-ops have long advocated for consumer legislation, accurate product labeling, and environmental protection. Food co-ops have many constituents-members, workers, board members, local and even global producers-making the process of collective decision-making complex and often difficult. Even so, food co-ops offer us a viable alternative to corporate capitalism. In recent years, committed co-ops have expanded their social vision to improve access to healthy food for all by helping to establish food co-ops in poorer communities.

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The End of Protest: How Free-Market Capitalism Learned to Control Dissent
By Alasdair Roberts, Cornell University Press, 2013

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The United States has just gone through the worst economic crisis in a generation. Why was there not more protest, as there was in other countries? During the United States’ last great era of free-market policies, before World War II, economic crises were always accompanied by unrest. “The history of capitalism,” the economist Joseph Schumpeter warned in 1942, “is studded with violent bursts and catastrophes.” In The End of Protest, Alasdair Roberts explains how, in the modern age, governments learned to unleash market forces while also avoiding protest about the market’s failures. Roberts argues that in the last three decades, the two countries that led the free-market revolution—the United States and Britain—have invented new strategies for dealing with unrest over free market policies. The organizing capacity of unions has been undermined so that it is harder to mobilize discontent. The mobilizing potential of new information technologies has also been checked. Police forces are bigger and better equipped than ever before. And technocrats in central banks have been given unprecedented power to avoid full-scale economic calamities. Tracing the histories of economic unrest in the United States and Great Britain from the nineteenth century to the present, The End of Protest shows that governments have always been preoccupied with the task of controlling dissent over free market policies. But today’s methods pose a new threat to democratic values. For the moment, advocates of free-market capitalism have found ways of controlling discontent, but the continued effectiveness of these strategies is by no means certain.

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Forced to Be Good: Why Trade Agreements Boost Human Rights
By Emilie M. Hafner-Burton, Cornell University Press, 2009

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Preferential trade agreements have become common ways to protect or restrict access to national markets in products and services. The United States has signed trade agreements with almost two dozen countries as close as Mexico and Canada and as distant as Morocco and Australia. The European Union has done the same. In addition to addressing economic issues, these agreements also regulate the protection of human rights. In Forced to Be Good, Emilie M. Hafner-Burton tells the story of the politics of such agreements and of the ways in which governments pursue market integration policies that advance their own political interests, including human rights.

How and why do global norms for social justice become international regulations linked to seemingly unrelated issues, such as trade? Hafner-Burton finds that the process has been unconventional. Efforts by human rights advocates and labor unions to spread human rights ideals, for example, do not explain why American and European governments employ preferential trade agreements to protect human rights. Instead, most of the regulations protecting human rights are codified in global moral principles and laws only because they serve policymakers’ interests in accumulating power or resources or solving other problems. Otherwise, demands by moral advocates are tossed aside. And, as Hafner-Burton shows, even the inclusion of human rights protections in trade agreements is no guarantee of real change, because many of the governments that sign on to fair trade regulations oppose such protections and do not intend to force their implementation.

Ultimately, Hafner-Burton finds that, despite the difficulty of enforcing good regulations and the less-than-noble motives for including them, trade agreements that include human rights provisions have made a positive difference in the lives of some of the people they are intended-on paper, at least-to protect.

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