4 out of 4 stars
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Consequential Economics by Nicola DellaCioppa is a fascinating book that discusses globalization and its effects on countries worldwide (especially in developed countries). In the USA (and in a more general sense in many developed countries of the world), you see politicians of both sides of the aisle having frantic and violent discussions about meaningless events. However, everyone agrees that globalization is a divine blessing and that the whole world benefits from it. Is that an absolute truth? Are these politicians defending ordinary people's interests, or are they simply in the pockets of mega-corporations and foreign governments?
The book's premise is that globalization has negatively affected workers and the middle class in developed countries. First and foremost, it's important to clarify that the author is not a socialist or a leftist. DellaCioppa stress from the first page that there are two types of capitalism: "Natural Capitalism" and "Selective Capitalism." The first is a unique system that provided incentives for producing goods and allowed even the most humble worker to climb to the country's highest posts. On the contrary, the second is a system dominated by elites that only think about maximizing their profits and have little concern for the well-being of the population or the environment.
What is most striking about this book is the author's mastery of the subject. Not only does he understand a lot about economics, but he also makes exciting comparisons of current reality with events in the past. In chapter number 9, Nicola shows how the American economy's decadent scenario is similar to what happened with the Roman Empire. The resemblance is incredible and reminded me of the Nietzschean concept of eternal recurrence.
There is nothing to be criticized here. At the beginning of the book, I thought that the author could be biased since his speech in many ways resembled that of Donald Trump in 2016. Nicola DellaCioppa, however, approaches the subject in an impeccable scientific way. It became clear to me that he was an unbiased intellectual when he said that the Democratic Party has a more intelligent approach to deal with some aspects of globalization.
All in all, Consequential Economics deserves four out of four stars. It's an educational, insightful, and memorable work. Since I found only three minor grammatical errors in 245 pages, it's clear that the book is professionally edited. I recommend it to everyone who likes to study economics and wants to understand the modern world. The author discusses complex subjects, but he does so in a didactic way that will allow even those who do not have extensive economic knowledge to understand what is happening in the modern world.
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