After Capitalism (New Critical Theory) by David Schweickart

By David Schweickart

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In After Capitalism, David Schweickart strikes past the established arguments opposed to globalizing capitalism to give a contribution anything totally beneficial and lengthy overdue—a coherent imaginative and prescient of a conceivable, fascinating replacement to capitalism. He names the program fiscal Democracy, a successor-system to capitalism which preserves the potency strengths of a industry economic climate whereas extending democracy to the place of work and to the constructions of funding finance. Drawing on either theoretical and empirical study, Schweickart indicates how and why this version is effective, dynamic, and improved to capitalism alongside more than a few values.

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The capitalist qua capitalist does none of these things. As an individual, he might also be an entrepreneur or a manager, but these productive functions are quite distinct from "providing capital"-the function that, in a capitalist econ­ omy, legally entitles him to his (often huge) slice of the economic pie. In short, not all entrepreneurs are capitalists; not all capitalists are entrepre­ neurs. You can't justify the income of one by appealing to the function of the other. The entrepreneurial justification for capitalist income is a wash.

Such is the with the economic function of saving connection between savings and under capitalism. economic growth. ,q One pound grows to be a hundred thousand. "9 They failed to realize, we tell our­ this possible? Population growth is easy enough to understand. If every cou­ selves, how interest can function as a mechanism for enhancing production, ple has four children who live to adulthood, the population will double so that in the long run, every generation. That's easy to understand. Parents were fruitful and they a sideshow.

It would hardly be fair to base present capital al­ location on past history. Doing so would give a disproportionate share to the regions that are already more capital intensive, thus exacerbating, rather than mitigating, regional inequalities. This, of course, is precisely what happens under capitalism. ) New invest­ ment tends to flow to where the capital base is already large. Cities attract more capital than rural areas. Industrial centers suck investment funds from the rest of a country. Capital tends to move to where capital is already plen­ tiful, because that is where new investment opportunities are easiest to find.

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