Flawed Capitalism

“In Flawed Capitalism: The Anglo-American Condition and Its Resolution, David Coates draws on his vast experience of economy and society in both the US and the UK to examine the economic and social problems currently besetting each country.

Building an argument around the rise and fall of important social settlements, Flawed Capitalism traces the history of the two economies through their New Deal and then their Reaganite periods – ones labelled differently in the UK, but similarly marked by the development first of a Keynesian welfare state and then a Thatcherite neoliberal one.

It is with the weaknesses and downsides of the Reagan/Thatcher years that Flawed Capitalism is primarily concerned, showing how the underlying fragility of a settlement based on the weakening of organized labour and the extensive deregulation of business culminated in the financial crisis of 2008.

The legacies of that crisis haunt us still – a squeezed middle class, further embedded poverty, deepened racial divisions, an adverse work-life balance for two-income families, and a growing crisis of housing and employment for the young. Flawed Capitalism deals with each in turn, and makes the case for the transatlantic creation of a new social settlement – a less flawed capitalism – one based on greater degrees of income equality and social justice.”

Join us in the College Hub at Kellogg for a discussion with the author, David Coates, as he launches this new study of the Anglo-American condition.

This event is free and open to all. Book here. Refreshments will be served at 17:00, the talk will begin at 17:30.

Watch the author discussing his new book.


David Coates holds the Worrell Chair in Anglo-American Studies at Wake Forest University, North Carolina. Educated at the universities of York and Oxford, he took up his position at Wake Forest University in 1999, having previously held chairs at the universities of Leeds (in contemporary political economy) and Manchester (in labour studies). He has written extensively on UK labour politics, contemporary political economy and US public policy.