The Economic Studies Shelf

Mass Capitalism: A Blueprint for Economic Revival
Apek Mulay
Book Publishers Network
9781940598482, $20.00, PB, 242pp,

Synopsis: Thanks corporate outsourcing and overseas relocation of the past thirty years, and to the Great Recession of 2008, job security is no longer a given. As much of our economy follows jobs to other countries, especially China, Americans must wonder what we will be left holding. Can we retrieve what we have lost? In “Mass Capitalism: A Blueprint for Economic Revival”, Apek Mulay (Business and Technology Consultant with Mulay’s Consultancy Services and a senior analyst and Macroeconomist in US Semiconductor Industry) presents solutions to the economic problems threatening the survival of the US and global economies. “Mass Capitalism” covers such issues as the establishment of a balanced economy; the elimination of unemployment; the reduction and elimination of deficits and the nation debt; the revival of the US economy; and the establishment of a true free-market economy with minimal government intervention and lower taxes on individuals. “Mass Capitalism” also calls for the majority shares of Fortune 500 companies to be owned by their employees, rather than outside investors. “Mass Capitalism” provides clear, simple explanations make the economic concepts discussed accessible to all readers.

Critique: Informed and informative, thoughtful and thought-provoking, “In” Mass Capitalism: A Blueprint for Economic Revival” will prove to be of immense interest to academia and non-specialist general readers with an interest in the nation’s (and their own) economic well being. Very highly recommended for both community library and academic library Economics reference collections and supplemental studies reading lists, it should be noted that “Mass Capitalism” is also available in a Kindle edition ($8.99).

18. Book Review by Mr. Rajaram Patwardhan published in The Maharashtra Times, Saturday, 4th June, 2016 


19. Book Review by Mr. Jayraj Salgaonkar, Founder of Kalnirnay and well-known economist and author [here]

The founder of Kalnirnay and a well known economist and an author based in Mumbai, India recently provided a review for my first volume ‘MASS CAPITALISM: A BLUEPRINT FOR ECONOMIC REVIVAL‘. Mr. Salgaonkar has made use of inputs from Mr. Koustubh Joshi in his review.

Recent developments in global economic world essentially post subprime crisis require attention towards revised approach and viewpoint of capitalism and market structure. Apek Mulay’s recently published book Mass Capitalism: A Blueprint for Economic Revival  can be good reading exercise to understand the changing scenario in the United States with respect to productivity, job creation and sustainable business outlook for future.

Apek has experienced the ups and downs in semiconductor industry and it clearly can be noticed by examples and cases considered in book. His argument is to have a holistic approach of policy planning by government, planning authorities that supports the government efforts, central banker and market regulator ( facilitator to be better ) so that mid and longer term objectives can be achieved.

He has used electronics and semiconductor industry to explain the importance of innovation and its impact on core economic progress. This gives theoretical understanding of the issue of changing economic pattern. In India we don’t have a strong culture of technical knowhow and curios behavior amongst masses if one considers the engineering or gismos for that matter! It should be noted that iphone has around 7000 semiconductor or similar parts. It is the innovation that can change the fortune of economy, and idea of capitalism should be connected to innovation so that it can prove useful for masses.

India’s story is little different as compared to the USA. We have more contribution of service sector in GDP (gross domestic product or national income) so as to make India more proactive in innovation with respect to tertiary sector we have to push reforms in both financial markets and manufacturing segment also.

UK’s exit from EU is somewhat an opportunity for India. Indian companies will have more marketability and scope of expanding business in long run. I don’t hesitate to accept some negatives too but, in the long run gain is sure.

According to Apek, Free Market Mass Capitalism can generate better results for the US economy.

Title of this book is something I found really interesting! Why so? It is not so easy to consider Capitalism and Mass in one plane. Mass cannot be tagged easily with capitalists, so little dichotomy in the title. Though I recommend this book for readers as it envisages a different outlook for an elementary reader in economics.

20. Book Review by Mr. Kumar Ketkar published in The Sakal Times, Saturday, 25th September, 2016 


As a preface, I have personally met and interviewed Dr. Ravi Batra, a well known economist from the United States, whose ideas have been cited by the author of Mass Capitalism, Apek Mulay. I remember interviewing Dr. Ravi Batra when I was working with The Economic Times and Batra made a headlines on The New York Times for his best selling book ‘The Great Depression of 1990’. When I was introduced to Apek Mulay during his visit to India, I was curious to meet somebody whose work has received some good reviews from economist Ravi Batra himself.
I liked the thesis of his book as well as found the title of book very intriguing. I was curious what exactly did Mulay mean by Mass Capitalism. Another interesting thing that I learnt during out first meeting was that he is essentially from an engineering background. I have not met anybody with such a unique background and hence his book is pretty unique in that regard.

In Mass Capitalism, Mulay, provides a macroeconomic analysis and provides microelectronics industry as model for his thesis. Besides, He focuses on several important aspects of economy providing a holistic solution to the problems of economy with Hi-Tech industry as a model for his analysis. He covers international trade, business models, supply chains, monetary policy, fiscal policy, geopolitics, socio-economics, macro-finance as well as democratic reforms making is a blueprint for economic revival.

His ideas have an essentially important role to play for not only a developed economy like the United States but also for a developing country like India. His focus on the importance of robust semiconductor industry is critical for a country like India which has no domestic electronics manufacturing capabilities and have a huge problem of trade deficits due to imported electronics. Having realized the usefulness of his ideas for Indian economy, I also helped him get his ideas out through Television interviews during his visit to India. Mulay has been able to correlate very well what has happened in the United States leading to a sub-prime crisis in 2008 and how present Indian government is repeating the same mistakes like the US.

What I find important to mention is that Mulay stresses about a productive use of technology to eliminate poverty, unemployment and raise the standard of living of citizens. He is opposed to an unproductive use of technology that increases unemployment in a nation’s economy. I would highly recommend this book for its unique approach towards solving the economic problems of a nations economy through a productive use of technology. I wish Mulay the best in making it happen for global economy.

21. Book Review by Dr. Raghunath K Shevgaonkar, Professor at Department of Electrical Engineering IIT Bombay

Mass Capitalism is an interesting analysis from technological Perspective. The author has argued that eventual demise of Moore’s Law will be due to Physics but the present slowdown is due to lack of free Market economy. He has uniquely and logically demonstrated the importance of technological advancement for progress of knowledge based economy. Reading his thesis, I enjoyed it and I am glad that Mass Capitalism will now be available for Marathi readers through this volume. I wish him best in his Endeavors.

22. Book Review by Aditya V. Phatak, Senior Researcher at Gateway House: Indian Council of Global Relations

Mass capitalism is a very readable primer on state of US economy, its ailments and possible cures by bringing workers into equity holdings of the firm they work for.

For a national security analyst, however, the book is a warning to keep in mind the weak quality assurances that have pervaded US military industrial complex.

Apek showcases this through a chapter on how outsourcing of manufacturing by US firms to China in search of higher profits has facilitated entry of counterfeit electronic parts into US military supply chain. This is a dangerous trend for India national security as Delhi Washington defense ties draw closer.

Mass capitalism is also a must read for parents who will be or are ready to pay a fortune for their child’s US college degree as an assured pass to better life. Those old days are long gone.