The Critique Of Capitalism Democracy

Historian and political thinker Ellen Meiksins Wood argues that theories of "postmodern" fragmentation, "difference", and contingency can barely accommodate the idea of capitalism, let alone subject it to critique. In this book she sets out to renew the critical programme of historical materialism by redefining its basic concepts and its theory of history in original and imaginative ways, using them to identify the specificity of capitalism as a system of social relations and political power. She goes on to explore the concept of democracy in both the ancient and modern world, examining its relation to capitalism, and raising questions about how democracy might go beyond the limits imposed on it.

While there are signs of recovery from recent economic collapses, relatively few protective measures are in place in the United States to prevent future crises and widespread destruction of livelihoods around the globe. This book, a follow-up and further development of Martin’s and Torres’ ideas in their acclaimed Savage State: Welfare Capitalism and Inequality, contains a synthesis and critique of economic theory with historical case studies and new discourse on American globalism and its failures to provide for the economic security of millions of people. Since the original publication over ten years ago, there has been a resurgence in radical political economy and critical theory. Instead of "demonizing" the market, Capitalism and Critique draws lessons from the new directions in social theory and seeks clear solutions for future modes of capitalism.

This book critically analyzes the current historical conjuncture of neoliberal capitalism with an eye to its emergent alternatives. Can democracy and capitalism thrive together? Is socialism a viable and a desirable alternative? What are the forms of emancipatory action and critical thought that can effectively chart a way forward? Focusing on nine “critical debates” it provides a uniquely comprehensive overview of the tensions, contradictions, and latent emancipatory potential of contemporary global capitalism. The specific debates are as follows: capitalism’s relationship with democracy; privatization and governance of the commons; the financialization of capitalism; technology and the future of work; varieties of neoliberal capitalism; cosmopolitanism, international development, and human rights; feminist theory and social solidarity; sustainability and climate change; and theories of capitalist crisis.

An anthology of long-read book reviews by one of the European left’s foremost political economists From the acclaimed author of How Will Capitalism End? comes an omnibus of long-form critical essays engaging with leading economists and thinkers. Critical Encounters draws on Wolfgang Streeck’s inimitable writing for the London Review of Books and New Left Review, among other publications. It opens with treatments of two contrasting historical eras—factory capitalism and financialization—and three of the world’s major economies: the United States, France and Germany. A middle section surveys the hollowing out of Western democracies and reviews Yanis Varoufakis’s “strange but indispensable” memoir of the eurozone crisis. Delving into the world of ideas, Streeck discusses the work of Quinn Slobodian, Mark Blyth, Jürgen Habermas and Perry Anderson. Finally, he zooms out to compare his home discipline of sociology to natural history, giving a remarkable and non-deterministic reading of Charles Darwin. In the preface, Streeck reflects on the art (or craft) of book reviewing and the continuing merits of the book form. Critical Encounters also includes a series of “Letters from Europe,” penned as the coronavirus descended upon the Continent.

What, and who, are we working for? A thoughtful assessment on our current society from “probably America’s most prominent Marxist economist” (The New York Times). Capitalism as a system has spawned deepening economic crisis alongside its bought-and-paid-for political establishment. Neither serves the needs of our society. Whether it is secure, well-paid, and meaningful jobs or a sustainable relationship with the natural environment that we depend on, our society is not delivering the results people need and deserve. One key cause for this intolerable state of affairs is the lack of genuine democracy in our economy as well as in our politics. The solution requires the institution of genuine economic democracy, starting with workers managing their own workplaces, as the basis for a genuine political democracy. Here Richard D. Wolff lays out a hopeful and concrete vision of how to make that possible, addressing the many people who have concluded economic inequality and politics as usual can no longer be tolerated and are looking for a concrete program of action. “Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.” —Noam Chomsky, leading public intellectual and author of Hope and Prospects

This book examines one of the key issues in the analysis of the capitalist state: its relationship with democracy. To what extent can a capitalist state be democratised? Where and how do democratic institutions intervene in the management and control of capitalism? These questions and more are the subject of this book.