Too much stuff: capitalism in crisis

Intro -- TOO MUCH STUFF -- Contents -- Preface and acknowledgements -- 1. A new perspective on capitalism's "sickness" -- Introduction -- Capitalist economies: the realities -- We need a systemic change -- About this book -- 2. Inspiration in the Kaufhaus des Westens -- The Kaufhaus des Westens -- "Necessary luxuries" -- Persistent lack of demand -- Conclusion -- 3. Unreal tax rates -- Introduction -- The US -- Japan -- Germany -- The downward trend in interest rates -- Liberal politicians and conservative fiscal policy -- Conclusion -- 4. Printing money -- Introduction -- Ultra-easy monetary policy -- The lack of a common macroeconomic theory -- Neoclassical economic theory -- The ineffectiveness of ultra-easy monetary theory -- Conclusion -- 5. Inequality and discontent -- Introduction -- The Occupy Movement -- Thomas Piketty and Capital in the 21st Century -- Disparity in income and wealth distribution -- Conclusion -- 6. Buckling bridges and crumbling mountains -- Introduction -- Social safety nets and infrastructural investment -- The crumbling Eiger -- Conclusion -- 7. The United States: stagnation and gridlock -- From Ronald Reagan to George W. Bush, 1981-2009 -- The Obama years, 2009-16 -- Conclusion -- 8. Japan: bubbles, "lost years" and Abenomics -- Introduction -- The bubble and the "lost" years, 1980-2008 -- Government since 2009: from incompetent to delusional -- Conclusion -- 9. Unified Germany: a divided nation -- Introduction -- 1980-2008: German politics move to the Right -- From 2009 to the present: the high cost of Merkel's policies -- Conclusion -- 10. Four European economies -- Introduction -- From the 1980s to 2008 -- From 2009 to the present -- Conclusion -- 11. Reform to the rescue -- Great Britain1 -- The United States2 -- 12. Adapting capitalism and changing politics -- Introduction -- Increasing tax revenues.

Where has capitalism gone wrong? Why are advanced capitalist economies so sick, and why do conventional policy solutions such as reduced taxes and increased money supply produce only wider income disparity and inequality? We are now living in a new world in which a majority of people enjoys the highest living standard in history, acquiring more and more goods and services as necessary luxuries. But as Kozo Yamamura shows, despite our apparent lust for gourmet food and designer clothes, for larger homes, the latest gadgets, and exotic vacations, demand for these goods actually grows slowly, so relying on them to reinvigorate our economies will not succeed. With Too Much Stuff, Yamamura upends conventional capitalist wisdom to provide a new approach. He calls for increased tax-funded demand to address a range of societal needs such as environmental concerns, social safety nets, infrastructure, and better education and housing for all. By addressing these needs, argues Yamamura, we can also take huge steps toward reducing the growing wealth gap that threatens global democracy. Both solutions-oriented and accessibly written, this book draws on fascinating case studies from the United States, Japan, and Germany, as well as convincing evidence from across the Western world, to suggest practical steps forward that we can all understand and support. Too Much Stuff boldly challenges the economic orthodoxy and, in so doing, challenges us to think outside the box for the betterment of all. --