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 standard arguments opposed to globalizing capitalism to give a contribution anything totally helpful and lengthy overdue—a coherent imaginative and prescient of a possible, fascinating replacement to capitalism. He names the program monetary Democracy, a successor-system to capitalism which preserves the potency strengths of a industry economic system whereas extending democracy to the office and to the constructions of funding finance. Drawing on either theoretical and empirical study, Schweickart exhibits how and why this version is effective, dynamic, and stronger to capitalism alongside a number of values.

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In any society that wants to remain technologically and economically dy­ namic, a certain portion of society's labor and natural resources must be de­ voted each year to developing and implementing new technologies and to expanding the production of the goods and services in high demand. In a modern society, this allocation of resources is effected through monetary in­ vestment. From where do investment funds come? In a capitalist society, they come largely from private savings, either the direct savings of private indi­ viduals or the retained earnings of corporations, that is, the indirect savings of stockholders.

Cashing in his share. Not a nickel of your money goes to the company itself. your stock purchase. new issue of stock, to This dilutes the value of the existing stock, so It is true that once in a while a company will offer a be sold to the public for cash. stockholders aren't enthusiastic about new issues, but sometimes new funds are acquired this way. But even here, there's a problem. The stock purchaser 38 Justifying Capitalism Cbapter 2 39 keeps getting "repaid" long after the value of his contribution has been re­ Perhaps people need Noble Lies-that the Land-God must be appeased, imbursed.

5 These justifications do not give the per capita principle absolute force. The right of a region or community to its per capita share of the investment fund is a prima facie right only, which can be overridden by other ethical or economic re­ than its per capita share for a period of a larger than per capita share to an un­ considerations. The modernization of an outmoded industry in a particular gion might require that it receive more time. It might be desirable to allocate derdeveloped region or community for a number of years, to aid it in catching up.

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