There is a historical fact going against the common sense that the only virtues for capitalism are the pursuit of profit and competition…! Taming Capitalism: The History of Capital and Non-capital is a fascinating history book that, through scenes of Italy in the early 20th century, provocatively presents the claim that the fairness and morality inherent in capitalism can amply be restored.
Jang Moon Seok argues that, since its birth in 17th-century Europe, capitalism has secured its own efficiency and validity, protecting “non-capital” such as the family, state, and religion. In particular, the entrepreneurs of Italy, which were latecomers in industrialized Europe, wished to catch up with advanced countries’ industrial development but also sought to avoid or detour existing social conflict or class struggle. In other words, they sought simultaneously to catch the two birds of catching up with (economic development) and taming capitalism (social control). To achieve these goals, the Italians actively embraced non-capitalistic elements such as the family, community, and state and values of bygone eras such as paternalism and royalism.
Presenting diverse cases where non-capitalistic elements have been mobilized and used in the developmental process of Italian capitalism, this book persuasively demonstrates that the economy has coexisted with the non-economical and capitalism has coexisted with the non-capitalistic, intertwined in a complex manner..