- Series: The Future of World Capitalism
From Capitalist Inefficiency to Economic Democracy
The dominant schools of neoclassical and neoliberal economics tell us that material scarcity is an inevitable product of an insatiable human nature. Against this, Costas Panayotakis argues that scarcity is in fact a result of the social and economic processes of the capitalist system. The overriding importance of the logic of capital accumulation accounts for the fact that capitalism is not able to make a rational use of scarce resources and the productive potential at the disposal of human society. Instead, capitalism produces grotesque inequalities and unnecessary human suffering, a toxic consumerist culture that fails to satisfy, and a deepening ecological crisis. Remaking Scarcity is a powerful challenge to the current economic orthodoxy. It asserts the core principle of economic democracy, that all human beings should have an equal say over the priorities of the economic system, as the ultimate solution to scarcity and ecological crisis.
A Twenty-First-Century Perspective
In the light of the deepening crisis of capitalism and continued non-Western capitalist accumulation, Henry Heller re-examines the debates surrounding the transition from feudalism to capitalism in Europe and elsewhere. Focusing on arguments about the origin, nature and sustainability of capitalism, Heller offers a new reading of the historical evidence and a critical interrogation of the transition debate. He advances the idea that capitalism must be understood as a political as well as an economic entity. This book breathes new life into the scholarship, taking issue with the excessively economistic approach of Robert Brenner, which has gained increasing support over the last ten years. It concludes that the future of capitalism is more threatened than ever before. The new insights in this book make it essential reading for engaged students and scholars of political economy and history.