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Understanding Capitalism 4.0 will be critical to the continued recovery of our global economies. In this book, the author describes the emerging features of this new capitalist model, explains how it differs from the previous versions - and how it will change politics, finance, international relations and economic thinking in the next decade.

"Anatole Kaletsky sometimes seems like the Stephen Hawking of economics. No problem, however deep, can faze him. No situation he finds is beyond solution. He goes – wisely, lucidly, above all confidently – where no experts have gone before. You know you're in the presence of a master. But the trouble is you can't always quite understand what he's saying.
In a way, that shouldn't be the difficulty with Capitalism 4.0 because Kaletsky keeps stopping to explain in very simple terms. Look, he says, capitalism isn't dead. Crunch and recession have merely changed it yet again. Capitalism 1.0, up to the end of the first world war, kept economics and democratic politics utterly separate. Politicians didn't meddle much, because that wasn't their role. Capitalism 2.0 – the John Maynard Keynes-cum-FDR stage – turned all that on its head. Now the politicians were bound to get involved because only the state, its elected leaders and their academic advisers, could provide the conditions for business recovery.
Capitalism 3.0, of course, headed in a completely opposite direction as Mrs Thatcher and Ronald Reagan skipped to the sidelines, leaving monetarism and market forces to do the job. God bless the markets! They were a law unto themselves. Until – whoops! – Northern Rock sank like a stone and Lehman Brothers went bump overnight. Now we need version 4.0, in which we must all be more pragmatic, more watchful, more engaged, less didactic, less blinkered, less wedded to theories that can't always work.
How do we do that, though? By following the creed of the Great Kaletsky, obviously enough. Except that along this path there is no set of laws, no neat package of theories, that can do the job for us. Success in key stage 4.0 demands brains constantly engaged, logic relentlessly applied. And if something, by mischance, should go wrong (as, of course, it will)? Well, just pick yourself up, dust yourself down and move straight onto stage 5.0." – Peter Preston, The Observer

Anatole Kaletsky

Anatole Kaletsky is one of Britain’s leading economic commentators. Formerly Economics Editor at The Times, he is now their Editor-at-Large and writes for The Times Comment pages on Thursdays. He was educated at King’s College, Cambridge as a Kennedy Memorial Scholar and graduated with a Master’s degree in economics. He has also worked at the Financial Times, where he served as New York Bureau Chief, Washington Correspondent, International Economics Correspondent and Moscow Correspondent.
Kaletsky has won several awards for his writing, twice receiving the Specialist Writer of the Year award at British Press Awards, and also receiving the Institute of Economic Affairs’ Wincott Award for Economic Journalism prize, the Cernobbio-Europe award, and the BBC’s What the Papers Say award for 1996. His most recent book Capitalism 4.0: The Birth of a New Economy, was published in May 2010.