The Culture of the New Capitalism

The distinguished sociologist Richard Sennett surveys major differences between earlier forms of industrial capitalism and the more global, more febrile, ever more mutable version of capitalism that is taking its place. He shows how these changes affect everyday life—how the work ethic is changing; how new beliefs about merit and talent displace old values of craftsmanship and achievement; how what Sennett calls "the specter of uselessness" haunts professionals as well as manual workers; how the boundary between consumption and politics is dissolving.In recent years, reformers of both private and public institutions have preached that flexible, global corporations provide a model of freedom for individuals, unlike the experience of fixed and static bureaucracies Max Weber once called an "iron cage." Sennett argues that, in banishing old ills, the new-economy model has created new social and emotional traumas. Only a certain kind of human being can prosper in unstable, fragmentary institutions: the culture of the new capitalism demands an ideal self oriented to the short term, focused on potential ability rather than accomplishment, willing to discount or abandon past experience. In a concluding section, Sennett examines a more durable form of self hood, and what practical initiatives could counter the pernicious effects of "reform."

How is a classic book to be defined? How much time must elapse before a work may be judged a 'classic'? And among all the works of American literature, which deserve the designation? In this provocative new book Denis Donoghue essays to answer these questions. He presents his own short list of 'relative' classics - works whose appeal may not be universal but which nonetheless have occupied an important place in our culture for more than a century. These books have survived the abuses of time - neglect, contempt, indifference, willful readings, excesses of praise and hyperbole. Donoghue bestows the term classic on just five American works: Melville's Moby-Dick, Hawthorne's The Scarlet Letter, Thoreau's Walden, Whitman's Leaves of Grass, and Twain's Adventures of Huckleberry Finn. Examining each in a separate chapter, he discusses how the writings have been received and interpreted, and he offers his own contemporary radings, suggesting, for example, that in the post-9/11 era, Moby-Dick may be rewardingly read as a revenge tragedy. Donoghue extends an irresistible invitation to open the pages of these American classics again, demonstrating with wit and acuity how very much they have to say to us now. Also available by Denis Donoghue: Speaking of Beauty, A New York Times Notable Book for 2003

The distinguished sociologist Richard Sennett surveys major differences between earlier forms of industrial capitalism and the more global, more febrile, ever more mutable version of capitalism that is taking its place. He shows how these changes affect everyday life-how the work ethic is changing; how new beliefs about merit and talent displace old values of craftsmanship and achievement; how what Sennett calls "the specter of uselessness" haunts professionals as well as manual workers; how the boundary between consumption and politics is dissolving.In recent years, reformers of both private and public institutions have preached that flexible, global corporations provide a model of freedom for individuals, unlike the experience of fixed and static bureaucracies Max Weber once called an "iron cage." Sennett argues that, in banishing old ills, the new-economy model has created new social and emotional traumas. Only a certain kind of human being can prosper in unstable, fragmentary institutions: the culture of the new capitalism demands an ideal self oriented to the short term, focused on potential ability rather than accomplishment, willing to discount or abandon past experience. In a concluding section, Sennett examines a more durable form of self hood, and what practical initiatives could counter the pernicious effects of "reform."