Activity

Marx was aware that one reason why British workers were able to get the Factory Act passed was that employers themselves were concerned about the ongoing destruction of labour in the ‘satanic mills’ of their factories. Exposed to competition, however, and only weakly organized, they could not act o…

[...] Whereas the rights of the state people are grounded in national political status, or citizenship, the market people of international finance derive their claim on public policy from commercial contracts, which in an encompassing global market, where lenders have alternatives, tend to take pre…

[...] As capital and capitalist markets began to outgrow national borders, with the help of international trade agreements and assisted by new transportation and communication technologies, the power of labour, inevitably locally based, weakened, and capital was able to press for a shift to a new g…

For the decline of capitalism to continue, that is to say, no revolutionary alternative is required, and certainly no masterplan of a better society displacing capitalism. Contemporary capitalism is vanishing on its own, collapsing from internal contradictions, and not least as a result of having v…

[...] Following in Marx’s footsteps, he lists five ‘escapes’ that have hitherto saved capitalism from self-destruction, and then proceeds to show why they won’t save it any more. They include the growth of new jobs and entire sectors compensating for employment losses caused by technological progre…