Capitalist Realism: Is There No Alternative?

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.

Capitalism by Sven Beckert: 9780735220836 | PenguinRandomHouse.com: Books

Buy Capitalism by Sven Beckert from Penguin Random House

Capitalism and Its Critics: A History

A Financial Times Most Anticipated Book of 2025A sweeping, dramatic history of capitalism as seen through the eyes of its fiercest critics. At a time when artificial intelligence, climate change, and inequality are raising fundamental questions about the economic system, Capitalism and Its Critics provides a kaleidoscopic history of global capitalism, from the East India Company and Industrial Revolution to the di...

J. K. Gibson-Graham

J. K. Gibson-Graham is a pen name shared by feminist economic geographers Julie Graham and Katherine Gibson. The two professors' landmark first book The End of Capitalism (As We Knew It) was first published in 1996 (a second edition with a new Introduction was published in 2006), followed by A Postcapitalist Politics in 2006. The two scholars also founded the Community Economies Collective (CEC), the Community Economies Research Network (CERN) and the Community Economies Institute (CEI), all "international collaborative networks of researchers who share an interest in theorizing, discussing, representing and ultimately enacting new visions of economy."[1] Gibson-Graham's works focus on untying the economy from capitalism and the possibility of transforming economic relations within existing conditions.

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…

Deaths of Despair and the Future of Capitalism

A New York Times BestsellerA Wall Street Journal BestsellerA New York Times Notable Book of 2020A New York Times Book Review Editors' ChoiceShortlisted for the Financial Times and McKinsey Business Book of the YearA New Statesman Book to ReadFrom economist Anne Case and Nobel Prize winner Angus Deaton, a groundbreaking account of how the flaws in capitalism are fatal for America's working class

danmcquillan (@danmcquillan@kolektiva.social) on Twitter / X

Fisher/Jameson said "It's easier to imagine the end of the world than the end of capitalism". And yet, that act of imagining alternatives is urgent; if AI tells us nothing else, it tells us that capitalism is actively imagining the end of us.— danmcquillan (@danmcquillan@kolektiva.social) (@danmcquillan) August 30, 2026

npj on Twitter / X

Schumpeter in a nut shell:— Capitalism forces “rationalization” and the rationalist worldview, which just ends in an almost nihilistic skepticism that corrodes everything traditional that it touches: in particular “family life” and the aristocracy.— The traditional… pic.twitter.com/hThnUJ6jNE— npj (@TiltingatM3) May 28, 2026

The Triumph of Broken Promises — Harvard University Press

A powerful case that the economic shocks of the 1970s hastened both the end of the Cold War and the rise of neoliberalism by forcing governments to impose austerity on their own people.Why did the Cold War come to a peaceful end? And why did neoliberal economics sweep across the world in the late twentieth century? In this pathbreaking study, Fritz Bartel argues that the answer to these questions is one and the same. The Cold War began as a competition between capitalist and communist governments to expand their social contracts as they raced to deliver their people a better life. But the economic shocks of the 1970s made promises of better living untenable on both sides of the Iron Curtain. Energy and financial markets placed immense pressure on governments to discipline their social contracts. Rather than make promises, political leaders were forced to break them.In a sweeping narrative, The Triumph of Broken Promises tells the story of how the pressure to break promises spurred the end of the Cold War. In the West, neoliberalism provided Western leaders like Ronald Reagan and Margaret Thatcher with the political and ideological tools to shut down industries, impose austerity, and favor the interests of capital over labor. But in Eastern Europe, revolutionaries like Lech Walesa in Poland resisted any attempt at imposing market discipline. Mikhail Gorbachev tried in vain to reform the Soviet system, but the necessary changes ultimately presented too great a challenge.Faced with imposing economic discipline antithetical to communist ideals, Soviet-style governments found their legitimacy irreparably damaged. But in the West, politicians could promote austerity as an antidote to the excesses of ideological opponents, setting the stage for the rise of the neoliberal global economy.

Exocapitalism: economies with absolutely no limits

There is a touch of destiny with this one. We have real…

Denizen

What are some of the fundamental flaws of capitalism? How might we instantiate a market-based economy that is growth agnostic?

Myopic memory: Capitalism's new continuity in the age of AI

This article is a commentary on the relationship between artificial intelligence (AI), capitalism, and memory. The political policies of neoliberalism have reduced the capacity of individuals and groups to reflect on and change the social world, meanwhile applications of AI and algorithmic technologies, rooted in the profit-seeking objectives of global capitalism, deepen this deficit. In these conditions, memory in individuals and across society is at risk of becoming myopic. In this article, I develop the concept of myopic memory with two core claims. Firstly, I argue that AI is a technological development that cannot be divorced from the capitalist conditions from which it comes from and is implemented in service of. To this end, I reveal capitalism and colonialism's historical and contemporary use of surveillance as a way to control the populations it oppresses, imagining their pasts to determine their futures, disempowering them in the process. My second core claim emphasises that this process of disempowerment is undergoing an acute realisation four decades into the period of neoliberalism. Neoliberal policies have restructured society on the basis of being an individual consumer, leaving little time, space, and institutional capacity for citizens to reflect on their impact or challenge their dominance. As a result, with the growing role of AI and algorithmic technologies in shaping our engagement with society along similar lines of individualism, it is my conclusion that the scope of memory is being reduced and constrained within the prism of capitalism, reducing its potential, and rendering it myopic.

Fast Capitalism | Mavs Open Press Open Access Journals | University of Texas at Arlington

Fast Capitalism is an academic journal aimed at describing the current moment of capitalism. We publish peer reviewed scholarship and essays about the impact of rapid information and communication technologies on self, society and culture in the 21st century. Our authors examine how heretofore distinct social institutions, such as work and family, education and entertainment, have blurred to the point of near identity in an accelerated, post-Fordist stage of capitalism. This makes it difficult for people to shield themselves from subordination and surveillance. The working day has expanded; there is little down time anymore. People can 'office' anywhere, using laptops and cells to stay in touch. But these invasive technologies that tether us to capital and control can also help us resist these tendencies. People use the Internet as a public sphere in which they express and enlighten themselves and organize others; information technologies afford connection, mitigate isolation, and even make way for social movements. We are convinced that the best way to study an accelerated media culture and its various political economies and existential meanings is dialectically, with nuance, avoiding sheer condemnation and ebullient celebration. We seek to shape these new technologies and social structures in democratic ways. We look at technology, Artificial Intelligence (AI), global flows, political economy, culture and cultural studies, social theory, political theory, intersectionality, and the envionrment.

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