'Dr Donghyun Park is a prominent and rare economist in Asia who can
combine frontline economic theories, lively data, and real-time
policy analyses. Capitalism in the 21st Century is a masterful book
by Dr Park, providing a comprehensive understanding of heterogenous
trajectories of economies around the globe and more fundamental
mechanisms of the modern capitalistic system. This is a 'must-read'
for those who are interested in comparative economic systems,
global economy, and international development.'Yasuyuki SawadaChief
Economist, Asian Development BankProfessor of Economics, University
of Tokyo'Donghyun Park makes clear that capitalism gets a bad rap,
in large part because of too much emphasis on capital as in
financial engineering, and too much emphasis on capitals as in
government protectionism. Park argues a compelling case that
genuine capitalism, which is about entrepreneurship, is necessary
to solve the big problems most people face around the globe.'Adam S
PosenPresident, Peterson Institute of International EconomicsGlobal
capitalism is currently suffering from an unmistakable malaise,
epitomized by wide and growing inequality that is eroding popular
support for capitalism. Such anti-capitalist sentiment, coupled
with a growing anti-globalization mood, delivered Brexit in a UK
referendum and swept Donald Trump to the US presidency. In
Capitalism in the 21st Century, internationally well-regarded
economist Dr Donghyun Park articulately explains why more
capitalism is needed to tackle global problems such as climate
change and inhumane poverty. While defending capitalism against its
unfair demonization, the author makes a positive case for
entrepreneurial capitalism, which creates wealth and jobs as well
as drives human progress. According to the author, reforming the
financial industry, which has become a self-serving leviathan, and
more fundamentally, tweaking the economic role of the government,
which stifles growth-promoting entrepreneurship, are critical to
restoring the vitality of capitalism. The book is explicitly
written in such a way that the general reader without any
background in economics or finance can easily understand it.Related
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