Capitalism XXL: Why the Global Economy Became Gigantic and How to Fix It

Economic gigantism is a problem in the current capitalist system,where large companies and organizations become more powerful,creating a Champions League effect that kills healthy competition,doesn't consider sustainable growth,and leaves workers feeling pressured and susceptible to burnout. Capitalism XXL argues that the trend for bigness goes beyond businesses and that a larger entity can seem attractive for its short-term financial gains, but the results produce enormous social costs. Geert Noels proposes an approach to capitalism that considers all human dimensions and describes a sustainable future economy that will not burden the generations to come with debt, social inequality, and a natural environment that is damaged beyond repair.

Format: Hardback
Length: 208 pages
Publication date: 15 May 2023
Publisher: McGill-Queen's University Press

Economic gigantism is a pressing issue plaguing our world today. Under the current capitalist system, large companies and organizations are growing exponentially in size and power, resulting in a Champions League effect that stifles healthy competition, disregards sustainable growth, and leaves workers feeling overwhelmed and susceptible to burnout. Capitalism XXL highlights the unfair advantage that current capitalism gives to bigness, and a growing unease with the system is emerging. This trend extends beyond businesses, as schools, hospitals, libraries, and various organizations have also consolidated under the guise of economies of scale. While a larger entity may seem appealing in the short term due to financial gains, the societal costs associated with this consolidation are enormous.

Geert Noels, in his book Capitalism XXL, argues that rather than dismantling the capitalist system in favor of neo-Marxism, we should return to the roots of capitalism as outlined by Adam Smith in the eighteenth century. Noels proposes a reformed approach to capitalism that encompasses all human dimensions, including social, ecological, and economic factors. He envisions a sustainable future economy that does not burden future generations with debt, social inequality, and irreversible damage to our natural environment.

To address economic gigantism, Noels suggests changing the rules to curb the growth of large corporations. He advocates for a more balanced approach that promotes competition, innovation, and fair trade practices. This includes measures such as breaking up monopolies, implementing stricter regulations on corporate behavior, and promoting worker empowerment and collective bargaining.

Furthermore, Noels emphasizes the importance of restoring the individual to the world economy. He argues that the current focus on maximizing profits and shareholder value has led to a disregard for the well-being of workers and the environment. Instead, a sustainable future economy should prioritize social welfare, environmental sustainability, and economic growth that benefits all members of society.

In conclusion, economic gigantism is a significant challenge that requires a comprehensive and sustainable solution. Capitalism XXL offers a valuable perspective on the issue and proposes an approach to capitalism that considers all human dimensions and promotes a sustainable future for all. By returning to the principles of capitalism as outlined by Adam Smith and implementing reforms that promote competition, innovation, and social welfare, we can mitigate the negative impacts of economic gigantism and create a more equitable and prosperous world.

Weight: 450g
Dimension: 159 x 236 x 20 (mm)
ISBN-13: 9780228016908