Includes bibliographical references (p. [209]-225) and index.

This accessible and persuasive book challenges the notion of our capitalist destiny. It provides a clear and concise history of the problems facing the economies of Europe, Japan, and the US during the latter half of the twentieth century and questions whether capitalism has really brought thelevels of economic growth and prosperity that were hoped for. Andrew Glyn then looks at the impact that the rapidly developing economies of China and the South are likely to have on the older economies of the North. As the race is on to maintain growth and protect competitive advantage, Glyn asks:is the "race-to-the bottom" inevitable as the anti-globalizers predict, with welfare states being dismantled to meet competitive demands? Or is there an alternative model, which sees a strong commitment to welfare provision as essential to economic growth? Can we afford not to tackle inequality athome as well as abroad?