Capitalism?
Meaning, merits, flaws, limits and possibilities of one of the most used and abused terms of our times
Capitalism – a term hated by most, though only a few really know its true meaning. A complex term, for sure, though easily (or lazily) used by many, and as such a term that needs to be fully comprehended, also because – whether we like it or not – our economic and social system remains a capitalist one. Thus, reading Capitalismo (Capitalism), written by Alberto Mingardi and recently published, is helpful to acquire a clearer understanding of a word that embodies a particular approach to goods, work and production, as well as life.
Mingardi guides readers along a path that is not always easy, starting with an analysis of the term itself (the first chapter is entitled “Uno strano ismo” – “A strange ism”) before retracing its origins through the industrial revolution, its developing complexities in terms of factory production and commerce, and the role of the State. We then reach our present times, when capitalism – in order to survive – must renew itself and take into consideration globalisation, pandemics and those walls that, to some extent, have led the world backwards.
The author presents each section with clarity and objectivity, which is the right way to approach this topic, not only to remain objectively fair but also because this is a term that has always unleashed hostility – violent on occasion, manifest and intense at all times. Thus, as capitalism often carries negative connotations, to be really understood – and only then embraced of rejected – clarity and impartiality are a must, and this is Mingardi’s aim. Hence, the book (about 150 pages deserving to be attentively read) alternates between the merits and flaws of capitalism, as well as dwelling on the prospects of developing and living longer despite the inequalities it engenders: the poor get poorer and the rich get richer. Over a century after its “birth”, capitalism certainly needs to be revamped, reviewed, reinterpreted, as it seems that no other valid alternatives have been found yet.
As Mingardi writes in his conclusions, “Let’s go back to our definition of capitalism: capitalism is a system in which decisions are taken in decentred fashion. We could describe it differently to a young person born in the 2000s. Capitalism is the opposite of lockdown. The choice for our future, how much paved with good intentions it might be, lies between one or the other. Or, in other words, a world giving the freedom to choose and be chosen, and a world in which someone else, though inspired by the best intentions, will choose for us.”
Capitalismo (Capitalism)
Alberto Mingardi
Il Mulino, 2023
Meaning, merits, flaws, limits and possibilities of one of the most used and abused terms of our times
Capitalism – a term hated by most, though only a few really know its true meaning. A complex term, for sure, though easily (or lazily) used by many, and as such a term that needs to be fully comprehended, also because – whether we like it or not – our economic and social system remains a capitalist one. Thus, reading Capitalismo (Capitalism), written by Alberto Mingardi and recently published, is helpful to acquire a clearer understanding of a word that embodies a particular approach to goods, work and production, as well as life.
Mingardi guides readers along a path that is not always easy, starting with an analysis of the term itself (the first chapter is entitled “Uno strano ismo” – “A strange ism”) before retracing its origins through the industrial revolution, its developing complexities in terms of factory production and commerce, and the role of the State. We then reach our present times, when capitalism – in order to survive – must renew itself and take into consideration globalisation, pandemics and those walls that, to some extent, have led the world backwards.
The author presents each section with clarity and objectivity, which is the right way to approach this topic, not only to remain objectively fair but also because this is a term that has always unleashed hostility – violent on occasion, manifest and intense at all times. Thus, as capitalism often carries negative connotations, to be really understood – and only then embraced of rejected – clarity and impartiality are a must, and this is Mingardi’s aim. Hence, the book (about 150 pages deserving to be attentively read) alternates between the merits and flaws of capitalism, as well as dwelling on the prospects of developing and living longer despite the inequalities it engenders: the poor get poorer and the rich get richer. Over a century after its “birth”, capitalism certainly needs to be revamped, reviewed, reinterpreted, as it seems that no other valid alternatives have been found yet.
As Mingardi writes in his conclusions, “Let’s go back to our definition of capitalism: capitalism is a system in which decisions are taken in decentred fashion. We could describe it differently to a young person born in the 2000s. Capitalism is the opposite of lockdown. The choice for our future, how much paved with good intentions it might be, lies between one or the other. Or, in other words, a world giving the freedom to choose and be chosen, and a world in which someone else, though inspired by the best intentions, will choose for us.”
Capitalismo (Capitalism)
Alberto Mingardi
Il Mulino, 2023