We need a revolution to cast off monopolies and restore entrepreneurial freedom. First of two excerpts from “The Myth of Capitalism.”
Cognitive Capitalism - Public Seminar
There are broadly three ways of thinking historically about capitalism. One draws on Marx’s value theory and pretty much treats...Read More
Le nouveau capitalisme (1/3)
Traduction de "New capitalism in America. Richest capitalists and richest workers are increasingly the same people" de Branko Milanovic
Denizen
What are some of the fundamental flaws of capitalism? How might we instantiate a market-based economy that is growth agnostic?
Hype, financial narratives, and self-fulfilling prophecies in surveillance capitalism
The rise of platforms has transformed our understanding of contemporary capitalism, with the critical literature describing how these firms leverage unprecedented digital powers to extract monopoly rents – perhaps even heralding a new form of Feudalism. This paper draws on the literature on financial narratives to examine the role that such stories play within the form of capitalism that they describe, and what this suggests for the role of “hype” in contemporary capitalism. The same stories that for critical scholars appear as menacing threats of “technofeudalism” or “surveillance capitalism” for investors appear as optimistic stories of promising future returns. By driving financial investments, narratives afford platforms very real social and political powers, enabling them to function as a form of self-fulfilling prophecies. The paper argues for a cultural inflection to the political economy of Big Tech – viewing capitalism as neither mechanistic nor rational, but as an expression of a complex interplay between narrative, technology, and economic power. This suggests the need for a critical hype studies, geared at deconstructing the narratives undergirding the technological waves of capitalist pursuits, and examining the broader role of hype in coordinating and directing flows of capital within contemporary financialized capitalism.
Will capitalism end capitalism? | Steve Loftus | The Critic Magazine
Imagine waking up one morning to discover your job still exists, but your services are no longer required. The work is being done, just not by you, not by anybody. Somewhere, a machine is doing it…
The end of capitalism has begun
Without us noticing, we are entering the postcapitalist era. At the heart of further change to come is information technology, new ways of working and the sharing economy. The old ways will take a long while to disappear, but it’s time to be utopian
1% for the People
Capitalism is the undisputed powerplant of global prosperity. Since Adam Smith first described the “invisible hand” that allows economies to be efficiently self-organizing and self-renewing, every attempt to supplant it with a competing system has failed spectacularly.
Le capitalisme d’enclaves et la fin de la démocratie
À propos de : Quinn Slobodian, Crack-Up Capitalism. Market Radicals and the Dream of a World Without Democracy, Metropolitan Books
Le capitalisme de la finitude : pessimisme et bellicisme
Traduction française de « Capitalism of finitude: pessimism and bellicosity. Review of Arnaud Orain’s "Le Monde Confisqué" » de Branko Milanovic
Muskism, capitalism according to Elon Musk
Preface | The World After Capital
Since publishing the previous version of The World After Capital, I have met with people across the political spectrum to discuss the ideas from the book. When I present these in person, I emphasize that the ideas are neither left nor right but forward (credit to Scott Santens who first used this phrase about Universal Basic Income). My writing, however, at times has alienated readers who identify as being more on the right. In this new edition, I am therefore making an extra effort to emphasize how both my diagnosis of where we are at and my suggestions for how to move forward do not map onto the existing political divides. Instead this is a new way of understanding our challenges and opportunities that can be the basis for movements and parties that are not trapped in Industrial Age ideology.
Capitalism Without Humans
As new technologies (not immigrants) replace human labor, "machine breaking" as a tactic of rebellion is taking on a renewed vitality.
