Stolen: How to Save the World from Financialisation - Grace Blakely

 Grace Blakeley’s Stolen: How to Save the World from Financialisation is a Marxist critique of modern capitalism, specifically the dominance of finance over productive industry. She argues that neoliberalism has enabled a small elite to extract wealth from the economy through financial speculation rather than wealth creation, leaving ordinary workers worse off. Blakeley’s solution is a radical transformation of the economic system, including nationalizing banks, imposing capital controls, and shifting towards democratic socialism.

Strengths:

• Clear Explanation of Financialisation: Blakeley does a good job of explaining how financialisation has led to instability, inequality, and a lack of investment in productive industry.
• Historical Context: She traces the shift from post-war Keynesian economics to the rise of neoliberalism under Thatcher and Reagan.
• Bold Policy Proposals: Unlike many left-wing critics who focus only on problems, Blakeley offers solutions, even if they are radical.

Weaknesses:

• Over-Simplification of Capitalism’s Evolution: The book often presents financialisation as a deliberate conspiracy rather than an unintended consequence of policy choices.
• Lack of Engagement with Alternative Views: It largely ignores counterarguments from classical liberals, conservatives, or even more moderate left-wing economists.
• Idealistic Solutions: The proposed policies—like nationalizing the financial system—are politically and economically unrealistic in the current climate.

Verdict:

Stolen is a passionate and readable critique of financial capitalism, but it falls short in providing a balanced or pragmatic approach to reform. It’s a useful book for understanding left-wing economic arguments but lacks engagement with broader perspectives.