Pacific Standard May-June 2013 Cover

The Restructuring of Capitalism in Our Time

The Restructuring of Capitalism in Our Time

This book wasn’t yet published when the Occupy Wall Street protests got under way, but The Restructuring of Capitalism in Our Time provides a solid foundation for that movement’s critique of the financiers who brought the global economy to the edge of collapse. William Tabb, professor emeritus of economics, political science, and sociology at the City University of New York, challenges those who claim that the 2008 meltdown was some kind of weird accident that could not have been anticipated. He sees the crisis as a logical consequence of policy shifts dating back to the early 1980s that ... Read More

America’s Stealth Industrial Policy

Back in 1998, Bill Gates bragged about the dynamism of the U.S. computer industry and claimed: "There isn't an industry in America that is more creative, more alive and more competitive. And the amazing thing is that all this happened without any government involvement." — cited in Glenn R. Fong, "ARPA Does Windows: The Defense Underpinnings of the PC Revolution," Business and Politics (2001). Gates' anti-government vehemence is understandable; his statement was released as the Justice Department was filing its major antitrust case against Microsoft for abusing its dominant market ... Read More