MACMILLAN Capitalism, Socialism, and Political Economy: Volumes I, II, and III

Capitalism, Socialism, and Political Economy, is a three‑volume examination of the ideological, historical, and economic forces shaping global politics in the early twenty‑first century. Throughout the volumes, Kui‑Wai Li argues that many political dynamics commonly associated with the alt‑right have roots in the geopolitical and institutional arrangements formed at the end of World War II. Integrating political trends into economic analysis, these books provide an analytical framework for understanding how competing ideological systems continue to influence global development, institutional behavior, and public sentiment. Volume I presents the conceptual groundwork, clarifying the distinctions between capitalism and socialism/communism. It provides particular attention to the historical contexts that shaped these ideologies after 1945. The volume explores their respective strengths, weaknesses, and core principles while emphasizing the need to differentiate “difference” from “inequality” and to draw clear boundaries between economic and political claims. Building on this foundation, Volume IIapplies the framework to contemporary global trends across advanced economies, socialist states, emerging economies, Middle Eastern regions, and newer blocs such as BRICS. Through these cases, the volume analyzes phenomena including Brexit, Trumponomics, cancel culture, and the strategic development models adopted by authoritarian or socialist governments. Volume III extends the analysis to the politics of fear and sympathy—two themes the author identifies as shaping current debates around climate change, COVID‑19, welfare systems, and unauthorized immigration. It further examines how concepts such as freedom, choice, privacy, trade, and investment function within different political‑economic systems, including the growing influence of AI on perceptions of autonomy and national strategy. The concluding chapters synthesize insights across the series, offering a comprehensive account of how ideological tensions and institutional constraints continue to structure global political economy.