21st Century Capitalism: Predictions from a Noted Economist

Economics, often vilified as the ``dismal science'' offers, in Heilbroner's deft book, an exhilarating exploration of ideas. In this study, based on lectures from the fall of '92, he ponders the possibilities for 21st-century capitalism in a sweeping examination of the ``idea of progress,'' capitalism as a social and political system, class struggle, capital accumulation, the challenge of growth, the marketplace, the collapse of the Soviet Union and the unpredictability of human behavior. As for American capitalism, he maintains ``its success will hinge on the capacity to perceive the public sector, as did Adam Smith, in terms of an indispensable source of strength for a private economy.'' Heilbroner ( The Worldly Philosophers ) predicts that capitalism is likely to remain ``the dominant social order.'' But, he warns, we will probably have to confront ``a limit beyond which acquisitiveness no longer serves, and may well disserve.'' This study, written by one of the nation's preeminent and prolific economists, should generate exceptionally strong interest. (Sept.)