Capitalism and its Critics: Capitalism in Social and Political Theory

Description

Capitalism and its Critics offers an accessible account of major theories of capitalism from the industrial revolution to the present day. The book provides a comprehensive account of the economic and social thought of key theorists from Adam Smith and Karl Marx to David Harvey and Thomas Piketty. Capitalism has long been the subject of passionate debate, and today such contestations are perhaps more timely than ever. For its advocates, capitalism brings democracy and freedom and is the cornerstone of modernity and of progress. For its critics, capitalism is based on the exploitation of labour and is responsible for the destruction of the environment as well as colonialism. Whether capitalism survives the century, or whether an alternative social system emerges, may very well determine the fate of humanity. Capitalism and its Critics gives a comprehensive critical analysis of the most important theorists of capitalism, including Adam Smith, Karl Marx, Max Weber, Joseph Schumpeter, Karl Polanyi, F.A. Hayek, J.M. Keynes, David Harvey, and Thomas Piketty. The book discusses some of the main debates about capitalism and considers alternatives in the twenty-first century. The 12 chapters are loosely chronologically organised around the main approaches and historical phases in the history of capitalism. Central themes of the book are the ideas of capitalist crisis and of tensions between democracy and capitalism in the making of modernity. A highly readable, informative and engaging text, Capitalism and its Critics is essential reading for anyone interested in understanding capitalism and its alternatives. Cover Endorsement Half Title Title Page Copyright Page Table of Contents Preface Introduction: Capitalism, Crisis and Critique Notes References 1 From Smith to Marx: Marx’s Critique of Capitalism The Ambivalent Legacy of Adam Smith From Smith to Marx Marx’s Critique of Political Economy The End of Capitalism: The Logic of Revolution and Its Economic Preconditions Marx and Capitalism Today Notes References 2 Weber and the Iron Cage of Modern Capitalism Marx After Weber: Weberian Marxism Rationalization and Capitalism Why Did This All Happen? The Protestant Ethic and the Spirit of Capitalism Trapped in the Iron Cage? Notes References 3 Schumpeter and Capitalist Crisis Schumpeter: Between Weber and Marx Creative Destruction and Capitalist Crisis Was Schumpeter Right? Notes References 4 Karl Polanyi and the Moral Critique of Capitalism The Moral Critique of Capitalism The Great Transformation and Its Aftermath A Contemporary Reappraisal Notes References 5 F. A. Hayek and the Emergence of Neoliberalism The Road to Serfdom The Rise of Neoliberalism Hayek and His Contested Legacy Notes References 6 The Rise and Fall of Organized Capitalism: J. M. Keynes and Social Liberalism The Era of Organized Capitalism Saving Capitalism: Social Liberalism John Maynard Keynes Disorganized Capitalism and End of the ‘Golden Age’ Notes References 7 The Frankfurt School: Capitalism, Reason, Desire Adorno and Horkheimer: Reification, Instrumental Rationality, the Culture Industry Marcuse and ‘One Dimensionality’ Fromm: Capitalism as ‘Pathological Normalcy’ The Limits and Contemporary Relevance of First-Generation Critical Theory Conclusion Notes References 8 Late Capitalism and Capitalist Crises The Inevitability of Crises in Late Capitalism: Ernest Mandel and Fred Hirsch Habermas and Legitimation Crises Post-structuralist and Post-Modern Critiques of Capitalism Daniel Bell: The Cultural Contradictions of Late Capitalism Conclusion Notes References 9 The Hidden Abodes of Capitalism: Environment, Gender, ‘Race’ Environmental Critiques of Capitalism Feminist Critiques of Capitalism Racial Capitalism Conclusion Notes References 10 Neoliberalism Triumphant: The New Spirit of Capitalism, Networks, Globalization The New Spirit of Capitalism Varieties of Capitalism The Information Age: Economy, Society, Culture Empire The Shock Doctrine Conclusion Notes References 11 The Financial Crisis and Austerity Capitalism: Responses From Thomas Piketty and David Harvey Capital in the Twenty-First Century David Harvey: The Enigma of Capital Precarity and Alienation Conclusion Notes References 12 The End of Capitalism: Contemporary Critiques of Capitalism Slavoj Žižek: The End Times of Capitalism Wolfgang Streeck: Capitalism’s Democratic Deficit Authoritarian Neoliberalism Shoshana Zuboff: Surveillance Capitalism McKenzie Wark: Capital Is Dead Paul Mason: Post-Capitalism and Post-Work Conclusion: What Is To Be Done? Notes References Index