Capitalism, Degrowth and the Steady State Economy

“The book by Lianos boils down to the ineluctable ‘one million dollar’ question: is there a possibility of a better world to the one we live now, or are we doomed to endure ad infinitum the Four Horsemen of Apocalypse carrying incessantly death, wars, famine and conquest? The author provides us with a critical evaluation of the issues at hand.” --Professor (Emeritus) Vassilis Droucopoulos, Department of Economics, University of Athens, Athens, Greece. “An essential reading for anyone who has ever wondered about the future of humanity. Its main strengths are simplicity and clarity. Prof. Lianos helps the reader navigate through a vast literature of ideas by presenting facts about the current situation facing humanity, the main arguments of competing ideas, and a concise but in-depth evaluation of these ideas.” --Anastasia Pseiridis, Professor of Sustainability Economics, Panteion University, Athens, Greece This book examines the contemporary state of the capitalist economyand its future trajectory in a world characterized by multiple crises from population growth to ecological damage. Setting an understanding of modern capitalism in global historical context, chapters consider the uncertainty of capitalism’s future and argues that capitalism must adapt dramatically to survive. The book examines the major problems that a capitalist system faces, including inequality, organized crime, uncontrolled technological development, polarizing geopolitics, food security and climate change. To address these multifaceted challenges andminimize the impact of capitalism in exacerbating them, the book discusses the potential viability of a ‘steady state’ economic model and a de-growth approach to the global economy. It also considers various alternative models for the future, including eco-socialism and participatory socialism. This book deftly weaves together perspectives on a wide variety of issues and will be a useful resource for scholars interested in Marxist economics and heterodox economics, political economy, economic development and economic thought. Theodore P. Lianos is Emeritus Professor at the Athens University of Economics and Business. He has published extensively on economic growth and development, Marx, steady state economics and political economy.