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Tag Archives: capitalism

The New Anti-Capitalism — Harold James

Interesting form the point of view of the changing nature of the mode of production from industrial to digital.  This suggests that an economic system more appropriate to emerging conditions is in the making — and in the interregnum it will be somewhat messy, especially given the accumulated challenges arising from negative externalities such as climate change  This further suggests a new phase on the historical dialectic where opposing forces hammer out the response to systemic...

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Behind Chile’s political crisis

More than one million people marched in Santiago on October 26 to protest the Government’s security response to Chile’s current political crisis and to demand structural economic reforms to reduce inequality and increase social services. In this post I analyze these grievances from a quantitative perspective and explore what it would take to translate them into policy. This is my fourth inequality-related post. I use the same sources of data and framework of analysis as in my initial...

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Behind Chile’s political crisis

More than one million people marched in Santiago on October 26 to protest the Government’s security response to Chile’s current political crisis and to demand structural economic reforms to reduce inequality and increase social services. In this post I analyze these grievances from a quantitative perspective and explore what it would take to translate them into policy. This is my fourth inequality-related post. I use the same sources of data and framework of analysis as in my initial...

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How to Rethink Capitalism — Simon Johnson

The 2008 financial crisis, together with failed efforts to combat climate change and sharply rising inequality, has frayed the neoliberal consensus that has prevailed in the United States and much of the West for more than two generations. Three issues must be considered in weighing what comes next.... Project SyndicateHow to Rethink CapitalismSimon Johnson

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Actually Existing Socialism In A Capitalist Setting? — Robert Vienneau

Elements of a post capitalist society are and have been developing in actually existing capitalism. This post points out a couple of examples.... This is what a transition from one dominant mode of production to another would look like in an evolutionary setting rather than a revolutionary one. In the gradual approach, different alternatives can be tested and developed based on learning instead of imposed. Thoughts On Economics Actually Existing Socialism In A Capitalist Setting? Robert...

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Capitalism–not so alone — Michael Roberts

Marxian economist Michael Roberts reviews Branco Milanovic's Global Inequality. And finds it wanting. It's the assumptions, stupid.In my view, the problem is the same as it is with almost economists with whom I am familiar. They don't read widely out of their field in relevant fields like sociology, political science, and history and anthropology. They look through an economic lens that is colored by their ill-informed assumptions regarding context. Used to mathematical modeling, they are...

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Why it is not the crisis of capitalism — Branko Milanovic

I don't think that Branco Milanovic has this quite right. First, he conflates capitalism with a market economy. Markets are ancient and can hardly be represented as evidence of capitalism.  Secondly, he notes, correctly, that capitalism as vastly extended marketization by commodifying as much as it can, thereby capitalizing it. But this is not necessarily the expansion of capitalism. It is more properly viewed as the expansion of privatization, which he notes.  Recalling the enclosure...

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Financialization as symptom — Chris Dillow

Which is where financialization comes in. The defining event on the road to financialization in the 80s was not big bang: at the time, this was seen as merely the ending of a restrictive practice rather than the start of the creation of global investment banks. Instead, it was the credit liberalization of the early 80s, which made mortgages and consumer credit much easier to get. This did not merely increase the activity and hence profits of lenders: note the big rise in financial profits...

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ON COMMODIFICATION — Chris Dillow

Commodification is of the essence of capital. It can be a force for good, as proponents of the price mechanism as the solution to all problems claim, or not, as Marx & Engels objected based on alienation. Chris Dillow comments.Stumbling and MumblingON COMMODIFICATIONChris Dillow | Investors Chronicle

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