Insight and inspiration in turbulent times.
The common goal of both the private and public sectors is rapid, sustained GDP growth, so the only climate actions that companies or governments are willing to take are those that will not risk slowing wealth accumulation.
During Turkey’s illegitimate invasion and annexation of Afrin, Turkish bombs pulverized ancient archaeological sites including the 3000-year-old Ain Dara temple. It’s an example of what imprisoned representative of the Kurdish movement Abdullah Öcalan calls capitalist modernity’s special warfare, severing people from their land and their history with one stroke.
A flood of recent analysis discusses the abuse of personal information by internet giants such as Facebook and Google. Some of these articles zero in on the basic business models of Facebook, and occasionally Google, as inherently deceptive and unethical. But I have yet to see a proposal for any type of regulation that seems proportional to the social problem created by these new enterprises.
Patel and Moore present a provocative and highly readable guide to the early centuries of capitalism, showing how its then radically new way of relating to Nature remains at the root of world political economy today. As for a guide to the future, however, the authors do little beyond posing a few big questions.
Today’s human activity isn’t exterminating mammoths through centuries of overhunting. Some humans are currently killing everything, from megafauna to microbiota, at speeds one hundred times higher than the background rate. We argue that what changed is capitalism, that modern history has, since the 1400s, unfolded in what is better termed the Capitalocene.
So overpopulation is a real problem. But if we don’t overthrow capitalism, Mother Nature is going to solve the overpopulation problem in a hurry, but in a most unpleasant manner. That’s why I don’t concern myself much with the population problem. I don’t mean to ignore it. But I think its very much a secondary driver compared to capitalism.
Guy Standing’s The Corruption of Capitalism (Biteback Publishing 2017) is a powerful attack on rentier capitalism and, very explicitly, a call to revolt. It is very informative and the detailed factual descriptions that Standing puts before his readers are intended to make them angry. He succeeded with me and probably will with most readers.
The problem is, we live in an economy built on perpetual growth but we live on a finite planet with limited resources and sinks. To date, all efforts to “green” capitalism have foundered on this fundamental contradiction: maximizing profit and saving the planet are inherently in conflict and cannot be systematically aligned even if, here and there, they might coincide for a moment. That’s because under capitalism, CEOs and corporate boards are not responsible to society, they’re responsible to private shareholders.
Britain’s housing crisis is complicated mess. Fixing it requires a long-term plan and a bold new approach to policy. But in the meantime let’s start calling it what it really is: the largest transfer of wealth in living memory.
The basic point is that despite our contemporary post-socialist tendency to counterpose ‘the market’ of the capitalist economy with ‘the state’, capitalist development has always been a state project, albeit in partnership with private actors. Without the state, there’d certainly be no capitalism, and probably not even all that much of a ‘market’ in the sense of places where people come together to buy and sell goods.
So, back to the main thread of my story: in weighing up capitalism’s historical record, it’s also necessary to reckon with the fact that capitalism has never confined itself to single national economies.
The stage is now set for the next scene in our whistle-stop tour – the emergence of capitalism. But first a quick aside. Enmeshed in a contemporary global capitalist economy as we are, it’s easy to read it back into history as some kind of inevitable culmination of past processes. But there’s no reason to think that our present was foreordained.
