Slouching Towards Utopia audiobook cover - An Economic History of the Twentieth Century

Slouching Towards Utopia

An Economic History of the Twentieth Century

J. Bradford DeLong

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Slouching Towards Utopia
The Long Century (1870-2010)+
Globalization & Imperialism+
Crises & Ideological Wars+
Post-WWII Social Democracy+
Persistent Inequality+
Neoliberal Turn & Collapse+

Quiz — Test Your Understanding

Question 1 of 8
According to the book, what fundamental shift occurred around 1870 that allowed humanity to escape the 'Malthusian devil'?
  • A. The invention of the industrial research lab, allowing technological progress to systematically outpace population growth.
  • B. The widespread adoption of the steam engine, which immediately stabilized global population growth.
  • C. The colonization of the Global South, which provided infinite resources to feed the Global North.
  • D. The introduction of global free trade agreements that eliminated all international tariffs.
Question 2 of 8
How does the book contrast the economic philosophies of Friedrich Hayek and Karl Polanyi?
  • A. Hayek believed the market should serve society's rights, while Polanyi argued the market should be strictly regulated by property rights.
  • B. Hayek believed the market solves its own problems without interference, while Polanyi believed the economy should be governed to serve society and respect human rights.
  • C. Hayek advocated for central command economies, while Polanyi championed absolute free-market capitalism.
  • D. Hayek focused on global trade expansion, while Polanyi focused exclusively on domestic agricultural production.
Question 3 of 8
What was the primary reason the economies of the Global South failed to prosper alongside the Global North during the late 19th and early 20th centuries?
  • A. They lacked natural resources like rubber, coffee, and sugar, which were highly demanded by the North.
  • B. They voluntarily chose isolationist policies to preserve their traditional agricultural practices.
  • C. Northern imperialists restricted them to producing low-value goods and failed to help them establish modern manufacturing industries.
  • D. Their populations grew too slowly to provide the necessary labor force for an industrial revolution.
Question 4 of 8
What commonality does the author highlight between twentieth-century fascism and 'really-existing' socialism?
  • A. Both ideologies successfully established long-term economic equality before collapsing due to external wars.
  • B. Both ideologies operated on a laissez-faire approach to the economy but strictly controlled social behaviors.
  • C. Both provided utopian visions for organizing society but ultimately produced disastrous, murderous dystopias.
  • D. Both were heavily influenced by Keynesian economics but failed to implement progressive taxation.
Question 5 of 8
Which economic approach characterized the prosperous 'Thirty Glorious Years' in the US and Europe following World War II?
  • A. A return to strict laissez-faire capitalism and the elimination of the income tax.
  • B. The implementation of a centrally organized, top-down command economy modeled after the Soviet Union.
  • C. A mixed economy guided by Keynesian principles, featuring high public spending, social security, and progressive taxation.
  • D. An era of extreme austerity measures designed to rapidly pay off massive war debts.
Question 6 of 8
What was the principal outcome of the 'neoliberal turn' that began in the 1970s?
  • A. A massive reduction in wealth inequality and a strengthening of the middle class.
  • B. A successful shift toward high-paying domestic manufacturing jobs in the Global North.
  • C. A return to Keynesian spending that permanently eliminated economic recessions.
  • D. The curbing of inflation, but at the cost of tax cuts for the rich, stagnant median incomes, and deepening inequality.
Question 7 of 8
According to the author, how did the US and European governments mishandle the 2008 financial crisis?
  • A. By pumping too much cash into the economy, which immediately triggered hyperinflation.
  • B. By applying Keynesian principles too aggressively instead of allowing the market to naturally correct itself.
  • C. By resorting to austerity measures and letting financial institutions fail, rather than boosting purchases and employment.
  • D. By nationalizing all major banks and permanently taking over the housing market.
Question 8 of 8
What timeframe does DeLong define as the 'long century' of unprecedented, yet uneven, economic and technological progress?
  • A. 1770 to 1914
  • B. 1870 to 2010
  • C. 1914 to 1989
  • D. 1945 to 2008

Slouching Towards Utopia — Full Chapter Overview

Slouching Towards Utopia Summary & Overview

Slouching Towards Utopia (2022) examines the “long century” between 1870 and 2010, during which technological progress, globalization, and the advent of social democracy opened a new horizon of human progress. Barring the horror years of World Wars I and II, humanity seemed to be on a slow, uneven crawl toward utopia. But in 2010, the tables turned. Economic progress in the Global North ground to a halt. 

Who Should Listen to Slouching Towards Utopia?

  • History buffs
  • John Maynard Keynes fans
  • Anyone wondering how the world became so unequal

About the Author: J. Bradford DeLong

James Bradford DeLong is a professor of economics at UC Berkeley. Under the Clinton Administration, he was deputy assistant secretary of the US Treasury, working on the federal budget as well as trade agreements such as the Uruguay Round and NAFTA. His previous books include The End of Influence and Concrete Economics.

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