By Robin Hahnel, Erik Olin Wright
Publish 12 months note: First released in 2014 via New Left Project
What could a potential unfastened and democratic society seem like? Poverty, exploitation, instability, hierarchy, subordination, environmental exhaustion, radical inequalities of wealth and gear it's not tough to record capitalism s myriad injustices. yet is there a ultimate and conceivable replacement?
Alternatives to Capitalism: Proposals for a Democratic Economy offers a debate among such percentages: Robin Hahnel s participatory economics and Erik Olin Wright s actual utopian socialism. it's a distinctive and profitable dialogue that illuminates more than a few matters and dilemmas of an important significance to any critical attempt to construct a greater world."
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Extra resources for Alternatives to Capitalism: Proposals for a Democratic Economy
Had he stayed with capital as money for investment or money invested in an income-generating enterprise and had theorised its actual and symbolic nature to command humans and natural resources, he might have come up with a different theory. 3 56 | two For Marx, capitalism is both a mode of production and a social relation of power between owners of the means of production and workers who have no other choice but to rent their labour power for a certain amount of time in order to gain access to food, shelter and other necessaries of life.
We can thank the French historian Fernand Braudel for 54 | two inquiring into the matter during his studies. Braudel found that the term ‘capital’ derives from ‘capitale’, a Latin word based on the expression for a head: ‘caput’. It emerged in the twelfth to thirteenth centuries and it meant ‘funds, stock of merchandise, sum of money, or money carrying interest’ (Braudel 1983: 232ff). According to Cannan’s research, when applied to business, the concept originally meant ‘money to invest or … money which had been invested’ (Cannan 1921: 478).
And divisible by time. This numerical system was adopted in Europe from the Hindu-Arabic system in the late fifteenth century. The term ‘income tax’ originated as a war tax in Great Britain in 1799. The tax became permanent after 1842. 2 Last, the term ‘national income’ does not appear in the English language until 1878. Adam Smith’s Wealth of Nations makes no mention of national income but he does speak about the ‘general stock’ of a country or society. We will discuss Smith’s work at greater length in Chapter 3.