This book sets out some important developments in the evolution of capitalism and judges whether this evolution is in accord with fundamental American principles. Particular attention is paid to the corporation, business cycles, and various monetary issues. Are the corporation and the financial structure congruent with foundational principles of American society? Is contemporary monetary policy compatible with American principles and current economic evolution? These are the central questions posed by the book. The text explores the issues of income distribution, business cycles, the great 1990s expansion and why it may end, and capitalist development stages. Business cycles, growth, and income distribution are all affected by the existing stage. Thedescription and importance of money manager capitalism are discussed, and the current monetary policy regime is critiqued. In addition, the reform of monetary policy along heterodox lines is described. The subsequent section of the...

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