ABSTRACT
Malcolm Sawyer’s work has played and continues to play an important role in both developing a better understanding of the economy and how it functions, and in developing policies to change it for the better – that is, to change the dominant economic system for the better, and hence thereby improve the state of the economy and society. Milanovic argues that capitalism as a system has become less moral, more driven by the ‘greed is good’ mentality. To move towards such an egalitarian capitalism would require increased taxation of the rich, including on inheritance; a significant increase in funding for an improvement in the quality of public schools; and ‘Strictly limited and exclusively public funding of political campaigns. Blakeley’s starting point is that capitalism has evolved from its previous productive form into ‘financialised capitalism’, that this creates inequality and environmental and economic crises, and that the capitalist system itself needs to be replaced by socialism.
