family-economics

Folbre's thesis is that capitalism has been enjoying a "free ride" on families and communitites from very early on. She further argues that capitalism is changing the ways people and families concieve of themselves. Using memorable examples, she makes a convincing case for the inclusion of traditional women's work such as child rearing in such measures as the GDP. After all, don't corporations need smart well-trained workers? And don't smart well-trained workers grow up inside families who nuture, care, and educate them? Further, don't families and workers mostly pay for their training?

Most economists are uncomfortable thinking about how the social and moral structure of society underpins capitalism. This is because they can't find ways to measure this "natural resource." Conservatives know that capitalism encourages radical individualism -- that's why they are always trying to impose "traditional values" on workers. Conservatives know that capitalism depletes people's sense of obligation and responsibility -- that's why they talk about it so much. What they don't talk about is that the encouragement of economic self-interest plays havoc with social reciprocity and moral standards. As Folbre points out, business contracts are almost meaningless in and of themselves. They are based on mutually accepted customs of reciprocity and obligation that have developed over the course of Western history. They are a simply a more elaborate version of the handshake.

Witty, pithy, and astute, Folbre's "Invisible Heart" is the perfect antidote to inane blatherings of the Chicago School knuckleheads and their mealy-mouthed descendants.

Wake has taken the opportunity to provide an unparalleled insight into the development of Kleinwort & Sons and Robert Benson & Co., tracing the former from its roots as a gun-running operation in Cuba, and the latter from a Quaker family in Lancashire.

Unlike many similar books, however, Wake goes beyond looking at the firms involved as her subtitle 'Two families in banking' implies. Consequently her work is packed with the stories, family anecdotes and gossip that really bring such a book to life.

An excellent and very enjoyable read which I would highly recommend to anyone remotely interested in the subject.

El miedo a perder la vida por hacer lo que nos gusta con ella está anclado en muchos de nosotros. Este libro desvela con claridad por qué tanta gente piensa así y cómo puede darse la vuelta a tal creencia.

Un libro necesario.

I think it is terrific. For me nearly 10 years ago it represented a major shift in thinking about leadership, seeing it not as influencing others to do what the leader wants but as helping a community to make meaning in their specific context.

This still is a radical shift - and as far as I am concerned the world would be a better place if it were more widespread. I haven't found any book since that presents such a radical change in such a short and simple way. A lot has been written about leadership in those 9 or 10 years, but I haven't found anything that really takes a new view.

Well perhaps there is - I see that the authors have (separately) written new things fairly recently, so now I will buy those and see where they have taken their thinking.....