Monday, 15 January 2007

"Cowboy Capitalism"

I've just finished reading "Cowboy Capitalism", a book which looks at some of the European myths about American "Cowboy Capitalism", and compares it with European ''Comfy Capitalism''. It does a very good job at explaining how many European myths, for instance about Americans having three or four jobs and living in constant fear of being fired, are just that. It also explains how American "Cowboy Capitalism" is better for an economy to be flexible, to have a low level of unemployment, and to adapt to new technologies (like the computer revolution), and how European "Comfy Capitalism" makes an economy inflexible.

"Cowboy Capitalism" is packed with many interesting and surprising statistics and survey results, about how more people from France, Germany and Italy (the three European nations looked at in this book) actually feel less secure in their jobs and feel less satisfied with their lives than many Americans. It also explains how the welfare state provides disincentives to work for many recipients, and how the dysfunctional European welfare states actually redistribute a large percentage of money gathered
from the lower to upper classes.

I would recommend "Cowboy Capitalism" to anyone looking for the
truth, especially in Europe and definitely in America, about the life
many Americans actually do lead. Rest assured, it is quite different
to what Michael Moore, Paul Krugman and Gerhard Schroder say and
will make you think about if Euro Capitalism really is better than
American Capitalism.

A 9/10 from me.


Kane Bunce said...

Interesting but does it mention the moral foundations of capitalism? Does it say why capitalism is great? Does it say why it is moral?

Callum said...

Well no, it isn't about trumpeting the moral foundations of capitalism, it's about explaining how American-style capitalism is better than European-style capitalism (which some believe is Socialism).

Kane Bunce said...

Hm, I don't think it is of interest to me then. I am currently too occupied with reading a few of Ayn Rand's books to read it.