Capitalism Against Capitalism

Communism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism.

On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success.

The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society.

The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.

Foreword V

Chapter 1. Introduction 1

Chapter 2. America is Back 20

Chapter 3. America Backwards 39

Chapter 4. Fame and Finance 62

Chapter 5. Insurance: A Study in Contrasts 84

Chapter 6. The Other Capitalism 99

Chapter 7. The Economic Superiority of the Rhine Model 127

Chapter 8. The Social Superiority of the Rhine Model 147

Chapter 9. The Rhine Model in Retreat 169

Chapter 10. The American Hare Versus the Rhine Tortoise 191

Chapter 11. The Second German Lesson 211

Chapter 12. France at the Crossroads of Europe 230

Chapter 13. Conclusion 250

Michael Albert is an American activist, economist, speaker, and writer. Since the late 1970s he has been involved with publishing left wing literature. He is known for helping to develop the socioeconomic theory of participatory economics. Communism has collapsed. Capitalism has rid itself of the competition on which it thrives. But though now victorious, capitalism has become a threat. The future of us all may be shaped by the outcome of the conflict between capitalism as victor and capitalism as threat. Not only in Europe, but also in the US and Japan - and no doubt shortly in the Eastern countries too - the great debate is capitalism versus capitalism.

On the one hand is the "neo-American" model based on individual achievement and short-term profits. On the other is the Rhine model practices in Switzerland, Germany, Benelux, Northern Europe and, partly, in Japan. In the Rhine model collective achievement and public concensus are seen as the keys to long-term success.

The first is more seductive, the second more effective. These two opposing forms of capitalism are engaged in a war which, like all internal conflicts, involves both secrecy and even hypocrisy. The outcome of this struggle could affect the quality of life on all levels of society.

The author of this book aims to provide a synthesis which will force the reader to consider the political and economic issues at stake towards the end of the century.