What does the future hold for capitalism?
“Since the financial crisis in 2008 there has been both a growing sense of hope and despair amongst progressive civil society that global neoliberal capitalism is finally unravelling. The atmosphere is somewhat like the late 1980s/early 1990s … There is serious concern around a changing geopolitical order—not only the rise of China, India, Brazil on the global economic stage but also the experiences of Ecuador and Bolivia in Latin America, the Arab revolutions and the rise of the Occupy movements. There is a questioning of systemic faults in economic thinking and practice in the wake of the interlocked crises of food, climate and finance, as well as the equally intertwined though far less visible global crisis of care work. There is a search for new value systems responding to today’s realities that current global political and economic institutions are failing to understand and govern.”
“The future of capitalism: a consideration of alternatives”, recently published in Cambridge Journal of Economics, looks at alternative visions for a different world order based on the values of ecological, gender, and social justice. These alternatives to neoliberal capitalism are based on the experiences of networks of people in different places around the world seeking to imagine how to move to a more sustainable, harmonious, liveable, and just world order. The paper is included in the special issue, “Contemporary capitalism and progressive political economics”, and is free to read online until March, 2015.
Image: ‘We are the 99%’ by lindscars via iStock Photo.