Colin Leys

Commodification: the essence of our time

The dominant process underlying the transformation of life in all societies, since at least the mid-nineteenth century, is the conversion of things and activities into commodities, or commodification. In advanced capitalist countries this process is now outstripping our political and social capacity to adjust to it. Any useful economic analysis needs to foreground this process. Mainstream economics does not do this.

April 2, 2012

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