Review of “Civic Capitalism, by Colin Hay and Anthony Payne,” 2015. Malden, MA: Polity Press. Cloth, 147 pages.
Is capitalism good or bad? Who takes responsibility for the poor sleeping on the sidewalk? For the prices going up? For salaries going down? For taxes going up? For our hopes going down?
Hay and Payne have assembled in this brief book 11 readings about capitalism and the realities of looking at modern economies through the lens of capitalism. The book is a result of a blog created and refreshed on the topic of the global crisis of the last few years.
Hay and Payne discuss and assemble readings here related to what they call “civic capitalism.” This is the “governance of the market, by the state, in the name of the people, to deliver collective public goods, equity, and social justice” (p. 3). They explain that this term has as its core the requirement that citizens must now “…ask what we can do for us and not what capitalism can do for us” (p. 4). Citizens must turn around the notion that they serve capitalism and must respond to its rules
This, in a nutshell, describes what the spirit of this book is and what the readings cover. The book deals further with the implications for all economies since commerce among nations is so complex now.
Writing a few years ago, the authors propose the involvement of counselors, readers, teachers, and voters… in addition to including readings that include a very important component: different points of view on how the whole thing works. Is capitalism good? Bad? Trustworthy? Most likely, the authors would like to inform us on getting involved in fixing things…
The book has to do with getting right what was done wrong…
The book contains a variety of readings on the disastrous complications of the 2008 Recession and away from a traditional growth model and toward one that takes into account more cultural differences worldwide, the context in which growth (or on-growth happens) and the social side of capitalism.
Without giving away too much content in this review, I will say that there is very interesting information to read about here related to the workings of civic capitalism, and one does not need to be an expert in Economics to understand the explanations and recommendations coming from these savvy people. This is a readable and essential book for helpers, educators, and socially responsible persons to grab onto. We must understand much more about the world economic situation if we are to be able to help struggling families, sway political thought, make changes in society, influence others, and convince elected officials how to vote.
These are all activities in which taxpayers must be involved. I maintain that we must be involved in them at least to some extent. Counselors, social workers,
community organizers, mentors for the homeless, and people who go out into the streets to assist the starving, the disadvantaged, the disgusted, and the disillusioned must all pitch in.
Teachers, administrators, and others who teach other persons at whatever level need to have a good sense of how we got to where we are financially and some ideas on how to move ahead. Bankers, parents, social service agency staff persons, and Christian clergy need to help. In fact, most everyone who needs to encourage other people should get on board.
Although the contributors are a little idealistic at some points (can one person really change the international flow of dollars for investment? Really?) They nonetheless do explain a great deal of information that is essential for understanding the benefits, drawbacks, workings, and potential of capitalism.
It is up to educated persons to read this assembly of authentic texts and see how to incorporate them in their own worldview, use them in their plans to influence others, write lesson plans for more advanced level high school courses, make use of them in courses for college students, and take from the readings information good for use in debates and negotiations with other professionals interested in discussing and working on the work world economy. At least in some smaller fashion.
I recommend the book and especially the introductory chapter on “civic capitalism” because of the clarity and the definitions found there. Hay and Payne are able to explain a great deal of technical information in that chapter so that the reader will be comfortable diving into the discussions of big changes.
Those big changes—mainly in perspective—make up the rest of the readings in the book.