This volume analyses contemporary capitalism and its crises based on a theory of capitalist evolution known as the social structure of accumulation theory. It applies this theory to explain the severe financial and economic crisis that broke out in 2008 and the kind of changes required to resolve it. The editors and contributors make available new work within this school of thought on such issues as the rise and persistence of the 'neoliberal' or 'free-market' form of capitalism (...) since 1980 and the growing globalization and financialization of the world economy. The collection includes analyses of the US economy as well as that of several parts of the developing world. (shrink)

Scholars of social science have increasingly been describing advanced capitalist societies as knowledge societies, based on a series of key assumptions about ‘post-industrialism’. My contribution challenges this new ‘conventional wisdom’ (John K. Galbraith) on several points. I first argue that it veils the ‘dark sides’ of capitalism, i.e. worker alienation, class relationships and class struggle. I then show how knowledge society experts all too often contribute to the individualization of social problems. Further on, I challenge the assumption according to (...) which contemporary human resources management creates a new kind of work relationship based on mutual respect, objectivity and justice. Finally, I try to understand the very success of the new ‘conventional wisdom’. The relative autonomy of science and education might be the most important reason why so many social science scholars as well as ordinary people today believe they are living in a knowledge society. (shrink)

What does the development of a truly robust contemporary theory of domination require? Ashley J. Bohrer argues that it is only by considering all of the dimensions of race, gender, sexuality, and class within the structures of capitalism and imperialism that we can understand power relations as we find them nowadays. Bohrer explains how many of the purported incompatibilities between Marxism and intersectionality arise more from miscommunication rather than a fundamental conceptual antagonism. As the first monograph entirely devoted (...) to this issue, »Marxism and Intersectionality« serves as a tool to activists and academics working against multiple systems of domination, exploitation, and oppression. (shrink)

The aim of this article is twofold. On the one hand, it is an attempt at systematizing a series of reflections elaborated by a number of studies appeared in the last decade. This research comes from scholars in different disciplines, but who identify, even in their internal differences, with a method of analysis rooted in the Italian Workerist thought of the 1960s. On the other hand, it tries to clarify an issue that has provoked much debate in the last few (...) years, especially in the field of heretic and heterodox thought, that is to say, the analysis of the salient characteristics of the current state of capitalism. In the last two decades, innovations in the fields of transportation, language and communication started to gather around a new single paradigm of accumulation and valorization. The new capitalist configuration tends to identify in “knowledge” and “space” as commodities a new foundation for dynamic skills of accumulation. We advance that the contemporary form of capitalism is defined in a univocal way as cognitive biocapitalism. Independently of the dominant convention, contemporary capitalism is always in search of new social and vital circles to absorb and commodify, involving more and more the bare vital faculties of human beings. (shrink)

In Marx’s analysis of capitalism, time and motion are central to the dynamics of the system. In the twenty-first century, capital deployed new forms of technology and logistical planning to increase profits and reduce the circulation phase of the turnover time of capital. The introduction of fibre optic cable, data centres, the transformation of the warehouse into a site of movement, the rise of third-party logistics (3PL) firms, and improvements in infrastructure all promoted ‘the annihilation of space by time’ (...) in the effort to increase profitability. As increased velocity of value became central to capital, the system in turn became more vulnerable to disruption by labour. (shrink)

This paper presents a theoretical elaboration of the ethical framework of classical capitalism as formulated by Adam Smith in reaction to the dominant mercantilism of his day. It is seen that Smith's project was profoundly ethical and designed to emancipate the consumer from a producer and state dominated economy. Over time, however, the various dysfunctions of a capitalist economy — e.g., concentration of wealth, market power — became manifest and the utilitarian ethical basis of the system eroded. Contemporary (...) capitalism, dominated as it is by large corporations, entrenched political interests and persistent social pathologies, bears little resemblance to the system which Smith envisioned would serve the common man. Most critiques of capitalism are launched from a Marxian-based perspective. We find, however, that by illustrating the wide gap between the reality of contemporary capitalism and the model of amoral political economy developed by Smith, the father of capitalism proves to be the most trenchant critic of the current order. (shrink)

Ashley J. Bohrer argues that it is only by considering race, gender, sexuality, and ability within the structures of capitalism and imperialism that we can understand power relations. Bohrer explains how the purported incompatibilities between Marxism and intersectionality arise more from miscommunication than a fundamental conceptual antagonism.

Business Ethics, the Environment & Responsibility, Volume 31, Issue 2, Page 346-362, April 2022.

The paper offers an analysis of ongoing disputes on freedom, democracy, justice and ecological sustainability of contemporary capitalism, which became even more topical due to the global financial and economical crisis of the latter. The author’s focus is on several methodological aspects of these disputes. He shows how freedom and democracy are reduced to mere political freedom and democracy, while the distributive justice is reduced to mere redistribution of pre-distributed revenues. If social sciences are to resolve the theoretical (...) problems of the 21st century society, these reductions have inevitably to be eliminated. (shrink)

Both Adam Smith and Herbert spencer, albeit in quite different ways, have been enormously influential in what we today take to be philosophies of modern capitalism. Surprisingly it is Spencer, not Smith, who is the individualist, perhaps an egoist, and supports a "night watchman" theory of the state. Smith's concept of political economy is a notion that needs to be revisited, and Spencer's theory of democratic workplace management offers a refreshing twist on contemporary libertarianism.

ABSTRACTOver recent years, an increasing body of research in social and cultural studies has investigated the contemporary processes of social change from the point of view of affective capitalism....

The political life of the lands of developed capitalism currently presents a highly complex picture. The acute sociopolitical crises that seized one leading capitalist country after another in the latter half of the 1960s and the beginning of the 1970s testifies to the increasing political instability of capitalism. Nevertheless, the growth of social and political conflicts is not yet leading to radical shifts in the correlation of the major political forces. Capitalism is still successful in preventing the (...) transformation of political crises into an immediate threat to the existing system. (shrink)

According to the main theories of the knowledge-based economy (KBE), the recent transformations of capitalism are the origins of a general societal change. Managerial theories consider KBE to be a series of win-win mechanisms that simultaneously favour firms, workers and consumers. The cognitive capitalism theory perceives in the development of cognitive capitalism signs of the formation of a post-capitalist economy. This article discusses the main features of these two theoretical orientations and identifies some core ambivalences in KBE. (...) The relationship between the market and society in KBE is marked by a dialectical process. The former incorporates mechanisms of potential economic valorization generated by informal social relationships. To this end, it must internalize actors, practices and cultures that are partially in conflict with it, given that it must make ever greater attempts to bring the overall process back within the ownership regime. One thus witnesses a reduction of the barriers between firms and society, that can simultaneously engender a more subtle dominance of the former over the latter, or the growth of autonomy, self-organization and peer cooperation among social actors. This second possibility relies entirely upon politics and collective action. (shrink)

Taboo, as a space where the prohibited resides, delimits the form of the thinkable in a society. Freud, in Totem and Taboo, attempted to trace an explanation beyond the ‘categorical imperative’ of morality and custom. A century later the YouTuber PrankInvasion (Chris Monroe) seems to continue Freud’s account to his advantage. Through ‘Kissing my actual sister prank’, one of his most controversial videos, he challenged his own followers to fulfil an especially controversial challenge: kiss his own stepsister. It is through (...) these contacts with the limits of the moral, of the acceptable, that capitalism expands the colonized territory, absorbing the profane under its new exposure value. The unthinkable, the purported profanation of dogma (in this case, taboo of incest), disappears under the standardization of all rites as standardized consumable objects. But as Agamben warns about the nature of desecration it can not be related, in its new use, with the consumption realm. And that is not the case with PrankInvasion. Through the apparent absence of ordinary moral limits, Chris Monroe expresses his heartfelt attachment to the most extraordinary limit of capitalism: economic growth. (shrink)

"In this edited collection, an international ensemble of scholars examine what contemporary cinema tells us about neoliberal capitalism and cinema, exploring whether filmmakers are able to imagine progressive alternatives under capitalist conditions. Individual contributions discuss filmmaking practices, film distribution, textual characteristics and the reception of films made in different parts of the world. They engage with topics such as class struggle, debt, multiculturalism and the effect of neoliberalism on love and sexual behaviour. Written in accessible, jargon-free language, (...) class='Hi'>Contemporary Cinema and Neoliberal Ideology is an essential text for those interested in political filmmaking and the political meanings of films."--Provided by publisher. (shrink)

Discussion surrounding Marx's distinction between productive and unproductive labor too often fails to distinguish between the various forms that unproductive labor may assume and is too hasty to subsume the income of workers "unproductively" employed by capital as a non-profit component of social surplus-value. Against this, it may be argued that many forms of unproductive labor are socially necessary to the social capital and are therefore properly viewed as systemic overhead costs. As such, they should be treated, in value-theoretical terms, (...) as elements of the constant capital flow. The implications of this approach are explored for crisis theory and the evolution of the class structure with particular reference to the Canadian experience in this century. (shrink)

The principle of limited liability is one of the defining characteristics of modern corporate capitalism. It is also, we argue in this article, a powerful structural source of moral hazard. Engaging in a double conceptual genealogy, we investigate how the concepts of moral hazard and limited liability have evolved and diffused over time. We highlight two parallel but unconnected paths of construction, diffusion, moral contestation, and eventual institutionalization. We bring to the fore clear elective affinities between both concepts and (...) their respective evolution. Going one step further, we suggest that both concepts have come to be connected through time. In the context of contemporary capitalism, limited liability has to be understood, we argue, as a powerful structural source of moral hazard. In conclusion, we propose that this structural link between limited liability and moral hazard is an important explanatory factor of the systemic instability of contemporary capitalism and, as a consequence, of a pattern of recurrent crises that are regularly disrupting our economies and societies. (shrink)

Review: Max Koch, Roads to Post-Fordism: Labour Markets and Social Structures in Europe ; Christian Joerges, Bo Strath and Peter Wagner, The Economy as a Polity: The Political Constitution of Contemporary Capitalism.

Should the Western democracies, contrary to their prevailing self-image as "planned" and "managed," be seen as highly disorganized systems of social power and political authority? If so, what are the symptoms, consequences of, and possible remedies for these disorganizing tendencies?In these ten essays, Claus Offe seeks to answer such questions. Moving beyond the boundaries of both Marxism and established forms of political sociology, he focuses on the growth of serious divisions within the work force, the importance of the "informal" sector, (...) the severe difficulties faced by trade unions in coping with the present economic crisis, the vulnerability of neocorporatist mechanisms, and the failures of state policymaking based on either majority rule or bureaucratic administration.In examining these and other fundamental problems of advanced capitalist democracies, Offe also contests some widely held assumptions of contemporary social science. He calls into question the neutrality of liberal democratic mechanisms of participation and representation, the centrality of the category of work and the division between labor and capital, and the feasibility and desirability of full employment.Claus Offe is the author of numerous books and essays, including Contradictions of the Welfare State. He is currently Professor of Political Science and Sociology in the Faculty of Sociology, University of Bielefeld, West Germany. John Keane is Senior Lecturer in Political Theory and Sociology at the Polytechnic of Central London. Disorganized Capitalism is included in the series, Studies in Contemporary German Social Thought, edited by Thomas McCarthy. (shrink)

At the center of contemporary discourse on technology — or the digital discourse — is the assertion that network technology ushers in a new phase of capitalism which is more democratic, participatory, and de-alienating for individuals. Rather than viewing this discourse as a transparent description of the new realities of techno-capitalism and judging its claims as true (as the hegemonic view sees it) or false (a view expressed by few critical voices), this article offers a new framework (...) which sees the digital discourse as signaling a historical shift in the technological legitimation of capitalism, concurrent with the emergence of the post-Fordist phase of capitalism. Technology discourse legitimated the Fordist phase of capitalism by stressing the ability of technology and technique to mitigate exploitation. It hence legitimated the interventionist welfare state, the central planning in businesses and the economy, the hierarchized corporation, and the tenured worker. In contrast, contemporary technology discourse legitimates the post-Fordist phase of capitalism by stressing the ability of technology to mitigate alienation. It hence legitimates the withdrawal of the state from markets, the dehierarchization and decentralization of businesses, and the flexibilization of production and the labor process. (shrink)

This book is a collection of essays written by various authors including the editors of the collection, Phoebe V. Moore, Martin Upchurch, and Xanthe Whittaker. These essays deal with the current topics of monitoring of workers in the new gig economy, digitalization of the work, and use of big data for the restructuring of the workforce. This book examines how new forms of surveillance are being adopted into contemporary work. It draws from original empirical research engaging with existing and (...) emerging fields of social inquiry and discusses the occurrence of surveillance and new forms of measurement of work in a range of industries. (shrink)

This book is a collection of essays written by various authors including the editors of the collection, Phoebe V. Moore, Martin Upchurch, and Xanthe Whittaker. These essays deal with the current topics of monitoring of workers in the new gig economy, digitalization of the work, and use of big data for the restructuring of the workforce. This book examines how new forms of surveillance are being adopted into contemporary work. It draws from original empirical research engaging with existing and (...) emerging fields of social inquiry and discusses the occurrence of surveillance and new forms of measurement of work in a range of industries. (shrink)

Contemporary reflections on capitalism as a social-historical formation build on the legacy of classical theorists and comparative analysts. To clarify the main lines of this ongoing debate, it seems useful to distinguish three dichotomies that have been central to interpretations of capitalist development. The question of unity and diversity has been most prominent in the controversies of the past few decades; its ramifications range from micro-economic research on ‘varieties of capitalism’ to less sustained discussions about the place (...) and role of capitalism within the framework of multiple modernities. Another key distinction contrasts systemic perspectives on capitalism with historical ones. In this regard, Schumpeter’s work is particularly interesting, but as an illustration of the problematic rather than an answer to the basic questions. The notion of a spirit of capitalism is most frequently associated with Weber’s work, where the spirit appeared as the source of a dynamic to which it then fell victim. Reconsiderations of the issue have raised questions about more durable versions and more varied expressions of the spirit, less likely to be eliminated by a self-propelling dynamic. Finally, comments on the articles included in the special issue suggest that they all have something to say on all three aspects of the field, but that their most innovative content may consist in attempts to move beyond systemic models of unity. (shrink)

The problem advanced societies have tried to answer since the last part of the twentieth century can be ascribed to a fundamental question: how to go beyond the constitutive (and unsustainable) limit of nation-state capitalism, constrained by an excessively circumscribed and univocal idea of social organization, without losing the ability to govern? Or, expressed in other terms, how can you dismantle the center (the state) without losing the power to control? The answer to this (difficult) question has been sought (...) for along two main axes. The first has concerned the seizing of new opportunities distributed over a space larger than the national space. As historians have shown (Arrighi 1996), if global projection is a constant of capitalism only the disastrous politico-military vicissitudes of the first half of the twentieth century created the conditions according to which the nation-state capitalism model could be born, in the form that dominated the fifty years following the Second World War. But first the exhaustion of colonialism, then the urgency of the energy question, the signs of a possible demise of Anglo-Saxon hegemony and, subsequently, the collapse of the Soviet empire, have changed the rules of the game. Within a rapidly transforming international framework, the recovery of a global outlook promised the exploitation of important opportunities with the opening of new markets, the valorization of investment possibilities, the displacement and utilization of low-wage labor, financial speculation, the acquisition and control of energy resources and raw materials. It is a promise that Anglo-Saxon elites have contemplated since the early 1980s, the moment in which?to counter the increasingly worrying signs of decline of their hegemony?they abandoned the Keynesian doctrine to embrace the neoliberal doctrine. The second axis along which a new growth cycle has been developed has to do with the increased manipulation of meanings available individually and collectively. Such a process is formed from the combination of two rationales, the subjectivist imperative, which inscribes into social life some of the philosophical developments of the twentieth century, and the formation of De-territorialized Aesthetic Space, which makes technically possible, a degree of cultural mobility hitherto unthinkable. Both these factors facilitate the insertion of the immaterial dimension into the cycle of capitalist valorization, making it more readily available for exploitation by economic forces on a global scale. (shrink)

Three widely discussed contemporary theories about the place and prospects of workers in the U.S. political economy are criticized. The Regulation school erroneously extends the Fordist era of corporate industry past the 1920s. The work of Bowles, Gordon, Weisskopf obscures the development since then of a class structure of accumulation one-sidedly weighted against a corporate working class still only in process of formation. Bell's "post-industrial society" obscures the central role of service sector growth in the present-day emergence of a (...) majority corporate working class. These developments, paralleled in the other advanced capitalist countries, have created a working class which will soon, for the first time in its history, have the capacity to intervene decisively in the course of capitalist development. (shrink)

The paper is devoted to the issue of surveillance in capitalism (surveillance capitalism), a phenomenon which has spread in that socio-economic system since the beginning of the 21st century. We attempt to point out the harmfulness of information technologies developing in the wrong direction, carrying the ideas of dataism and post-truth, which increasingly colonize human living space. It turns out that the information (traces) that people leave while operating on the Internet is a source of predicting human behavior (...) in the future (behavioral futures markets). Thus, for the most developed Internet enterprises in the world, they become a motive for violating what seem to be basic political rights, mainly freedom, property and security. As a result, under the influence of the disinformation often present on the Internet, people’s behavior may take the most socially undesirable forms, but desirable in the virtual world. The considerations in the paper are primarily theoretical. The descriptive method was used with elements of the conceptual analysis of surveillance capitalism in the context of dataism and post-truth. (shrink)