capitalism

Book review: Does Capitalism Have A Future?

Book review: Wallerstein, Immanuel et al. Does Capitalism Have A Future? Oxford: Oxford UP, 2013.

(crossposted to Firedoglake and to DailyKos.com)

This book is a "response" anthology, with the lead author being Immanuel Wallerstein, prominent world-systems theorist, laying out his hypothesis for postcapitalism. Even though I am sympathetic to Wallerstein's hypothesis, I find its logic a bit brief. Wallerstein argues that a number of trends in present-day world-society will converge and produce a transition to a postcapitalist world-society, and that what is going on now is the struggle to define what the world after capitalism will be like.

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Let's see some optimism around here, eh?

This diary is of course a response to a previous diary, which was on the Rec List at Kos when I woke up Thursday morning. "What happened to the energy of hope here at DailyKos?" AntonBursch said Thursday morning. Of course, there was the follow-up diary on Saturday -- but that one didn't seem to add much to the first one.

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What do the Important People think of the (possible) end of capitalism?

(crossposted at Firedoglake)

A lot of what I'm getting over the Internet these days is an attitude that, because I'm asking questions, this means that I have some sort of attitude that they don't like. Let me suggest an alternative option, one more suitable to Internet dialogue. Maybe I just don't know the answer, and you can educate me with your opinions?

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From the weblog of Harry Shutt: Capitalism's Terminal Debauch

Capitalism's terminal debauch

(republished with permission of the author)

As the Global Financial Crisis (GFC) drags on, the inability or unwillingness of the ruling global elite to recognise or address its true causes appears ever more surreal, not to say terrifying. The sense of impotence and ideological bankruptcy among political leaders is manifested almost daily – as in President Hollande's attempt on 9 June to convince his Japanese hosts that the Eurozone crisis is “over” and in Britain's opposition Labour party simultaneously embracing the governing Coalition's policy of austerity and welfare cuts even as the independent Institute for Fiscal Studies projects that this strategy will preclude any relief from public spending cuts and tax rises until at least 2020.

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