Too Much Stuff

Capitalism in Crisis

Kozo Yamamura (formerly University of Washington)

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English

Policy Press
21 March 2018

Social discrimination; Politics & government; Macroeconomics; Political economy

Where has capitalism gone wrong? Why are advanced capitalist economies so sick, and why do conventional policy solutions - such as reduced taxes and increased money supply - produce only wider income disparity and inequality? We are now living in a new world in which a majority of people enjoys the highest living standard in history, acquiring more and more goods and services as necessary luxuries. But as Kozo Yamamura shows, despite our apparent lust for gourmet food and designer clothes, for larger homes, the latest gadgets, and exotic vacations, demand for these goods actually grows slowly, so relying on them to reinvigorate our economies will not succeed.

With Too Much Stuff, Yamamura upends conventional capitalist wisdom to provide a new approach. He calls for increased tax-funded demand to address a range of societal needs - such as environmental concerns, social safety nets, infrastructure, and better education and housing for all. By addressing these needs, argues Yamamura, we can also take huge steps toward reducing the growing wealth gap that threatens global democracy. Both solutions - oriented and accessibly written, this book draws on fascinating case studies from the United States, Japan, and Germany, as well as convincing evidence from across the Western world, to suggest practical steps forward that we can all understand and support.

Too Much Stuff boldly challenges the economic orthodoxy and, in so doing, challenges us to think outside the box for the betterment of all.

By: Kozo Yamamura (formerly University of Washington)
Imprint: Policy Press
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
ISBN: 9781447335696
ISBN 10: 1447335694
Pages: 224
Publication Date: 21 March 2018
Audience: College/higher education , Professional and scholarly , A / AS level , Further / Higher Education
Format: Paperback
Publisher's Status: Active

A new perspective on capitalism's sickness ; Inspiration in the Kaufhaus des Westens; Unreal tax rates; Printing money; Inequality and discontent; Buckling bridges and crumbling mountains; The United States: stagnation and gridlock; Japan: bubbles, lost years and Abenomics; Unified Germany: a divided nation; Four European economies; Reform to the rescue; Adapting capitalism and changing politics; Conclusion.

Kozo Yamamura was until recently the Job and Gertrud Tamaki Professor of Asian Studies and Economics at the University of Washington, Seattle. He also worked at universities in the US, Japan, Germany and France. He published or edited 25 books from in the US, UK and Japan, many focused on the Japanese economy and economic history, in addition to several books on Comparative Economic Institutions and Policy.

Reviews for Too Much Stuff: Capitalism in Crisis

"""In our world of ""necessary luxuries"", incorrect investment incentives, disparate and worsening income distribution, this cogent, important, skeptical, provocative analysis proposes what must change in the US, Japan, Germany, and elsewhere."" Hugh Patrick, Center on Japanese Economy and Business, Columbia Business School ""an accessible and clearly written book for anyone with an interest in economics who is wondering ""where next"" for government economic policy."" Nat O'Connor, Ulster University ""A timely and urgent read given that western economies are at a political and environmental tipping point."" Ann Pettifor, Policy Research in Macroeconomics ""A bold and heterodox diagnosis of capitalism's illness, and a bracing prescription: It's time for government to invest in basic needs, rather than encouraging us to make and buy growing mounds of junk. We will be talking about this book for years."" Walter Hatch, Oak Institute for Human Rights, Colby College ""A compelling argument for a fairer, smarter form of capitalism which prioritises spending on public goods like health, infrastructure, education, and the environment. At a time of sharpening political end economic divides, this book is a must read."" Miranda Schreurs, Bavarian School of Public Policy, Technical University of Munich ""This book is right on time: the leading post-WWII economies are losing economic momentum and facing threats to their democratic institutions. Kozo Yamamura demands a prompt systemic change of the capitalist system in order to revitalize growth and secure democracy."" Guenter Heiduk, World Economy Research Institute, Warsaw School of Economics"