ben schiller

Today, the main contradiction in modern capitalism is between the possibility of free, abundant socially produced goods, and a system of monopolies, banks, and governments struggling to maintain control over power and information. Everything is pervaded by a fight between network and hierarchy.

Paul Mason, Postcapitalism

Yes, the postnormal era also involves the collapse of capitalism, or at least the hypercapitalism that defines the late industrial. We are living through its descent into something worse, and then perhaps the start of something better.

Ben Schiller’s review of Postcapitalism is very solid, including this nugget [emphasis mine]:

Mason says we need to move towards a “postcapitalist” economy, where working for money loses its centrality, where goods, information, and intellectual property are shared, and where economic actors collaborate in new ways, whether it’s credit union-type financial institutions or co-operative-type retailers. Importantly, Mason also shows how current economic orthodoxy—based around “free markets,” globalization and an oversized role for the financial services industry—isn’t some historical end-state, perfecting everything that went before. Rather, it’s the result of a particular set of choices, starting in the 1980s, that advantage some people over others.

And those policies are subject to change, and today, probably radical change.