Read e-book online After Capitalism (New Critical Theory) PDF

By David Schweickart

ISBN-10: 0742513009

ISBN-13: 9780742513006

Pdf: two-page test, ocr/fully searchable, no longer bookmarked

In After Capitalism, David Schweickart strikes past the regular arguments opposed to globalizing capitalism to give a contribution anything completely helpful and lengthy overdue—a coherent imaginative and prescient of a conceivable, fascinating substitute to capitalism. He names the program fiscal Democracy, a successor-system to capitalism which preserves the potency strengths of a marketplace financial system whereas extending democracy to the office and to the constructions of funding finance. Drawing on either theoretical and empirical examine, Schweickart indicates how and why this version is effective, dynamic, and better to capitalism alongside more than a few values.

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Extra info for After Capitalism (New Critical Theory)

Sample text

I have not the slightest idea what the bank 40 Justifying Capitalism Cbapter 2 does with my money. All I know is, so long as I leave my money in the bank , However, this sort of saving and lending is ing that forms the cornerstone of capitalism. " 41 not the sort of saving and lend­ This sort of saving and lending Interest may seem to be a simple thing, but interest, particularly when com­ redistributes income, but it has no direct effect on production. I can Consume pounded, is remarkable. John Maynard Keynes, somewhat whimsically, cal­ $60 more a year from now than I otherwise could, but you can consume $60 culated that the entire foreign investment of Britain, some £4 billion in 1928, less.

Here the situation is less transparent. Some part of your capital gain may be due simply to speculation. If enough investors think that a stock will rise in value, their buying it will cause it to rise, thus fulfilling their expectations. If you happen to have purchased a share of that stock prior to the speculative surge, and you sell it while the price is high, you realize a "magic" profit. But the real basis for stock appreciation lies not in investor psychology but elsewhere. Part of a company's net profit is paid out to the stockholders in the form of dividends, but the remainder is reinvested in the company.

Suppose we chases can be part of a well-<>rganized the next chapter. of waiting for a frugal saver to accumulate the funds to finance it, the gov­ ernment simply prints the money and lends it to her. She can now do exactly socialist society-as we shall see in have an enterprising entrepreneur with a project in mind. Suppose, instead 42 Justifying Capitalism Cbapter 2 what she would have done, had there been a frugal saver willing to lend her money-hire workers, increase production, repay the loan with interest, make a profit.

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After Capitalism (New Critical Theory) by David Schweickart


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