Book Summary and Reviews of Capitalism and Its Critics by John Cassidy

Capitalism and Its Critics by John Cassidy

Capitalism and Its Critics

A History: From the Industrial Revolution to AI

by John Cassidy

  • Critics' Consensus (6):
  • Published:
  • May 2025, 624 pages
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About this book

Book Summary

A sweeping, dramatic history of capitalism as seen through the eyes of its fiercest critics.

At a time when artificial intelligence, climate change, and inequality are raising fundamental questions about the economic system, Capitalism and Its Critics provides a kaleidoscopic history of global capitalism, from the East India Company and Industrial Revolution to the digital revolution. But here John Cassidy, a staff writer at The New Yorker and a Pulitzer Prize finalist, adopts a bold new approach: he tells the story through the eyes of the system's critics. From the English Luddites who rebelled against early factory automation to communists in Germany and Russia in the early twentieth century, to the Latin American dependistas, the international Wages for Housework campaign of the 1970s, and the modern degrowth movement, the absorbing narrative traverses the globe. It visits with familiar names―Smith, Marx, Luxemburg, Keynes, Polanyi―but also focuses on many less familiar figures, including William Thompson, the Irish proto-socialist whose work influenced Marx; Flora Tristan, the French proponent of a universal labor union; John Hobson, the original theorist of imperialism; J. C. Kumarappa, the Indian exponent of Ghandian economics; Eric Williams, the Trinidadian author of a famous thesis on slavery and capitalism; Joan Robinson, the Cambridge economist and critic of the Cold War; and Nicholas Georgescu-Roegen, the founding father of degrowth.

Blending rich biography, panoramic history, and lively exploration of economic theories, Capitalism and Its Critics is true big history that illuminates the deep roots of many of the most urgent issues of our time.

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Publishers Weekly Top 10/Top 150
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Reviews

Media Reviews

"Cassidy's masterful synthesis of history and biography serves to demonstrate that capitalism is in a permanent state of change not just because of its fundamental nature, but because of how it's continuously being subjected to pushback. The result is a unique and invigorating view of capitalism's history." —Publishers Weekly (starred review)

"A sweeping economic history of the to-some-sacrosanct doctrine of capitalism and those arrayed against it over the years ... dense with information, free of jargon, and a powerful argument against an increasingly unsustainable economic system." —Kirkus Reviews (starred review)

"One of the great chroniclers of how money works turns his mind to the system itself. If anyone can sum up the tumultuous and knotty history of the dominant economic system of our era in a brisk 600-and-change pages, it's Cassidy." ―The Millions

"It's about time we had a history of capitalism told through the eyes of its critics. For too long the predominant global system for safeguarding the power of the few against the needs of the many has been thought of like the weather: inevitable and eternal, something that cannot be changed, that can only be borne or enjoyed, depending on the day. Cassidy is more storyteller than bomb thrower, and one can only hope this gets the mainstream attention it deserves." ―Literary Hub

"Fascinating and informative. The history of capitalism is told through the eyes and legitimate concerns of its most articulate critics. This is intellectual history at its best. Essential reading for anyone who wonders how the modern world wandered off course." ―Simon Johnson, winner of the Nobel Prize in Economics and coauthor of Power and Progress

"John Cassidy's Capitalism and Its Critics is an impressive history of arguments about capitalism, from the industrial age to our time. Clear and accessible, it is an invaluable touchstone for current debates about economic renewal in our post-globalization moment." ―Michael Sandel, author of The Tyranny of Merit

This information about Capitalism and Its Critics was first featured in "The BookBrowse Review" - BookBrowse's membership magazine, and in our weekly "Publishing This Week" newsletter. Publication information is for the USA, and (unless stated otherwise) represents the first print edition. The reviews are necessarily limited to those that were available to us ahead of publication. If you are the publisher or author and feel that they do not properly reflect the range of media opinion now available, send us a message with the mainstream reviews that you would like to see added.

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Author Information

John Cassidy

John Cassidy is a journalist at The New Yorker and a frequent contributor to The New York Review of Books. He is the author of How Markets Fail and Dot.con: How America Lost Its Mind and Money in the Internet Era and lives in New York City.

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