The structure of democratic firms within a socialist framework might clash with broader goals such as balanced growth and equitable income. We will need a model that can harmonize firm-level democracy with macroeconomic expansion and a solidaristic wage.
Mike Beggs is an editor at Jacobin and a lecturer in political economy at the University of Sydney.
Class struggle will shape how this crisis plays out, and the world that’s created in its wake.
For decades, multinational companies have used fraudulent accounting techniques to evade corporate taxes with impunity. Thanks to populist pressure and national rivalries, international talks are now underway to explore reforms. The risk now is that reform ideas will be watered down, and poor countries excluded from the benefits.
Here’s what you should read.
In 2008, Hyman Minsky finally had his moment. But he was miscast as a prophet of financial collapse. The real “Minsky moment” was the bailout, not the crash.
The definitive explanation of why Bitcoin is stupid.
What is it about capitalism that makes Keynesianism a horizon even would-be revolutionaries have trouble seeing past?
In an age of precarity, a left-wing demand for full employment could be massively popular. But liberalism can’t deliver it.
Has the decline of the mass party caused the decline of democracy itself?
Erik Olin Wright on class, socialism, and the meaning of Marxism.
For all Piketty’s mainstream respectability, it is only the radical left and the labor movement — not treasuries and central banks — that can push his program.
Thomas Piketty’s Capital in the Twenty-First Century has been covered ad nauseam. But how it will change the ideological landscape remains to be seen.
With a vacuous social vision, economics confronts the “return of the social question” woefully unprepared.
Money crosses the divide between states and markets. Capitalism.
Over the next couple of weeks we will run the inaugural Jacobin Book Club seminar on The Making of Global Capitalism.
We need more grand histories. But 5,000 years of anecdotes is no substitute for real political economy.
In the long run we are all dead, but not all at the same time.