Download After Capitalism (New Critical Theory) by David Schweickart PDF

By David Schweickart

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In After Capitalism, David Schweickart strikes past the universal arguments opposed to globalizing capitalism to give a contribution whatever totally invaluable and lengthy overdue—a coherent imaginative and prescient of a conceivable, fascinating substitute to capitalism. He names the program financial Democracy, a successor-system to capitalism which preserves the potency strengths of a marketplace financial system whereas extending democracy to the place of work and to the buildings of funding finance. Drawing on either theoretical and empirical study, Schweickart exhibits how and why this version is effective, dynamic, and enhanced to capitalism alongside a variety of values.

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Notice, this question moves us from the noncomparative justification to the comparative one. We see that it is not risk per se that justifies a capital­ ist's income, but the assumption that there is no better mechanism for gen­ erating sufficient entrepreneurial energy than capitalist positive-sum Reverse-Lotto. The comparative case for Economic Democracy will chal­ lenge this assumption. To avoid a possible misunderstanding: I have not argued that investing in the stock market is immoral. Financial markets under capitalism fulfill a vital function.

Trepreneurial activity on my part. 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.

If this is so, then the investment fund ought to be distributed to regions in proportion to the size of their workforces, that is, (essentially) on a per capita basis. Or, if one prefers a non-Marxian justification, allocating in­ vestment funds to' regions may be regarded as prOviding a public seroice. used Hence, the allocation of investment funds should follow the principle in the allocation of such public services as education and health care (at least in those parts of the world where education and health care are publicly funded and rationally distributed}-namely, per capita share.

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