,REVIEW3 ,AFT] ! ,NEW ,ECONOMY 

,PEOPLE 3 

,AU?OR 3 ,IA9 ,MC,KAY 

,TEXT 3 

,AFT] ! ,NEW ,ECONOMY1 ,D\G ,H5WOOD1 ,! ,NEW ,PRESS 7,I,S,B,N #a-#e#f#e#h#d-#g#g-#i71 #bc 

,?IS IS AN EXCELL5T BOOK & IS HI<LY RECOMM5D$4 ,IT CUTS ?R\< ! CRAP ( ! HYPE ASSOCIAT$ ) ! EXCESSES ( RHETORIC PRODUC$ DUR+ ! ,U,S BUBBLE ( ! #a#i#iS4 ,IT EXPOSES ! V>I\S CLAIMS ( ! 0NEW ECONOMY0 TO ! H>% LIKE TO REALITY1 %[+ ?AT :ILE !Y W]E TAK5 DREADFULLY S]I\SLY AT ! TIME 9 ! M$IA !Y REFLECT$ LITTLE MORE ?AN WI%FUL ?9K+4 

,! BOOK IS BROK5 9TO FIVE MA9 SECTIONS4 ,NOVELTY COV]S :E!R ! 0,NEW ,ECONOMY0 WAS1 9 FACT1 ?AT NEW4 ,AS ,H5WOOD REC\NTS1 CAPITALISM EXP]I5CES SIMIL> HYPE-FE/S :5EV] IT GOES 9TO AN EXT5D$ BOOM4 ,9DE$1 Y\ KN[ :5 A CRA% IS COM+ :5 ! PUNDITS PROCLAIM ?AT ! BUS9ESS CYCLE HAS F9ALLY BE5 OV]COME4 ,! NEXT SECTION1 WORK1 EXPLORES ! MY?S ( H[ TE*NOLOGY CAN REVOLUTIONIZ$ WORK & PRODUCTIVITY4 ,SIMPLY PUT1 ! ,U,S 0MIRACLE0 ECONOMY ( ! #a#i#iS SIMPLY CANNOT BE EXPLA9$ 9 T]MS ( AN ,I,T REVOLUTION4 ,IT CAN1 H[EV]1 BE EXPLA9$ BY WORK]S WORK+ LONG] = LESS4 ,H5WOOD ALSO /ICKS ! BOOT 9TO MA9/REAM ECONOMI/S & !IR DEF9ITIONS ( PRODUCTIVITY4 ,& QUITE RI<TLY TOO4 

,! ?IRD SECTION1 9COME1 EXPOSES ! MY?S ( 9COME & ITS MOBILITY 9 ! L& ( ! FREE4 ,BASICALLY1 ! ,U,S HAS BE5 9CREAS+LY POL>IZ$ 9TO A V]Y L>GE POOR MAJORITY & AN AMAZ+LY WEAL?Y ELITE4 ,& MOBILITY UP & D[N ! SOCIAL HI]>*Y IS NOT ?AT MU* DIFF]5T ?AN 9 ,WE/]N ,EUROPE 7AL?\< ! POOR 9 ! ,U,S F9D IT H>D] TO GET \T ( POV]TY 9 ! L& ( OPPORTUNITY ?AN 9 0OLD0 ,EUROPE74 ,ESS5TIAL READ+ TO DISCOV] ! REAL NATURE ( CLASS 9 ,AM]ICA4 ,& NOT ONLY ?AT1 GIV5 HIS DISCUSSION ( ! EFFECTS ( SEXISM1 RACISM & HOMOPHOBIA ON 9COME4 

,! F\R? SECTION IS ON ,GLOBALIZATION4 ,H5WOOD MAKES GOOD PO9TS ON ! VAGU5ESS ( ?IS T]M & ! UNDESIRABILITY ( LOCALI/ CAPITALISM AS AN ALT]NATIVE4 ,SIMIL>LY1 HE NOTES SOME OBVI\S B5EFITS ( 9T]NATIONALISM & ! IMPORTANCE ( FI<T+ A GLOBALIZ$ SY/EM ) A GLOBALIZ$ MOVEM5T4 ,AFT] ALL1 AS HE /RESS$1 CAPITALISM HAS ALWAYS 9T]NATIONAL4 ,BLAM+ GLOBALIZATION AS SU* = \R CURR5T PROBLEMS1 LETS CAPITALISM (F ! HOOK4 ,& GIV5 ?AT MO/ ( !SE PROBLEMS CANNOT BE L9K$ TO 9CREAS$ 9T]NATIONAL TRADE OR 9VE/M5T ! ROOTS >E BETT] F\ND 9 ! CLASS W> AT HOME 7:I* USES GLOBALIZATION AS ONE ( ITS MANY WEAPONS74 

,& ?IS IS ! MESSAGE ( ! FIF? SECTION ON ,F9ANCE4 ,9 SOME WAYS1 IT IS A SUMM>Y ( ,H5WOOD'S PREVI\S BOOK1 ! EQUALLY EXCELL5T 0,WALL ,/REET04 ,AS 9 ?AT BOOK1 HE EXPOSES H[ F9ANCE CAPITAL WORKS & = :OM4 ,9 H[ NEW BOOK HE SUMM>IES HIS PREVI\S >GUM5TS & BR+S !M UP TO DATE4 ,HE AGA9 USEFULLY L9KS H[ ECONOMIC !ORY IS US$ AS A WEAPON 9 ! CLASS W>4 ,= EXAMPLE1 HE NOTES H[ ! 0,EFFICI5T ,M>KET01 :ILE HAV+ LITTLE EMPIRICAL EVID5CE TO SUPPORT IT1 WAS A USEFUL TOOL 9 PROMOT+ ! 9T]E/S ( CAPITAL OV] LABOR4 ,IF ! M>KET IS ALWAYS EFFICI5T1 !N PROMOT+ ! 9T]E/S ( ?OSE :O [N SOCIETY IS1 BY DEF9ITION1 ALSO EFFICI5T4 ,H5WOOD EXPOSES H[ ?IS 0EFFICI5CY0 TRANSLAT$ 9 HI<] CORPORATE PR(ITS AT ! EXP5SE ( !IR WORK]S1 !IR WAGES & !IR JOB SECURITY4 ,HIS ACC\NT ( H[ ! C5TRAL BANKS OP]ATE TO KEEP UNEMPLOYM5T AT A LEVEL SUFFICI5T TO FE> ! SACK 7& SO BE COMPLIANT WORK]S7 %\LD BE REQUIR$ READ+ = ALL AN>*I/S4 

,ULTIMATELY1 ! ECONOMY IS ALL AB\T P[]4 ,MA9/REAM ECONOMICS EXI/S TO JU/IFY ! P[] & PR(ITS ( ! WEAL?Y4 ,AS SU*1 IT HAS LITTLE TO SAY AB\T MONEY OR F9ANCE OR ! 9T]NAL WORK+S ( A COMPANY BUT A HELL ( A LOT TO SAY AB\T H[ CAPITAL DES]VES ITS %>E4 ,HE HAMM]S HOME ?AT PR(ITS1 9T]E/ & R5T >E SIMPLY ! UNPAID LABOR ( WORK]S & ?AT IT IS !M1 NOT MANAG]S1 :O PRODUCE WEAL? :I* F9ANCE SO SUCCESSFULLY CONC5TRATES 9 A FEW H&S4 

,IF *ANG+ ! WORLD FIR/ REQUIRES UND]/&+ IT1 !N ,H5WOOD'S BOOK IS ESS5TIAL READ+4 ,:]E IT IS WEAK IS 9 CON/RUCTIVE SUGGE/IONS4 ,FROM ,H5WOOD'S ANALYSIS1 IT IS CLE> ?AT A MILITANT LABOR MOVEM5T IS ESS5TIAL = 5SUR+ A DEC5T /&>D ( LIV+ = WORK]S UND] CAPITALISM4 ,?AT W\LD BE A GOOD PLACE = AN>*I/S TO />T CON/RUCTIVE WORK4 ,EQUALLY1 ! MORAL ( ! 0,NEW ,ECONOMY0 HYPE IS ?AT ! APPEAL ( A BETT] WORLD /ILL /RIKES CORDS4 ,HE 5DS BY >GU+ 0IF ALL *ALL5GES TO CAPITALISM W]E DEAD1 :Y DID WE HE> SO MU* AB\T DEMOCRATIZATION & ! OV]TURN+ ( HI]>*Y8 ,EVID5TLY ! MESSAGE HAS APPEAL1 EV5 9 APP>5TLY CONS]VATIVE TIMES40 ,H5WOOD EXPOSES ! REALITY ( ?AT RHETORIC EXTREMELY WELL4 ,HE 5DS ( A POSITIVE NOTE3 0,IF A LITTLE HI]>*Y-OV]TURN+ DEMOCRATIZATION IS SU* A GOOD ?+1 !N :Y NOT MORE80 

,:Y NOT1 9DE$8 

,FROM 3 ,!,AN>*I/,LIBR>Y4ORG4 

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,FEBRU>Y #a#a1 #bba 3 ,REVIEW3 ,AFT] ! ,NEW ,ECONOMY -- ,ADD$4 
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