For Erik Olin Wright, our greatest chance at developing non-capitalist economic institutions may be in periods of class compromise initiated from below. The question is what it would take – or even whether or not it is possible – to rebuild such conditions in the present.
The financial crisis of 2008-9 was the largest and most devastating crisis since the Great Depression. What started on Wall Street soon spread to the rest of world and into the balance sheets of nation states. The cycle of austerity and recession in the subsequent decade is still effecting households and the real economy to this day. But what caused the crisis in the first place? In this now classic essay, Robert Brenner traces the origins of the crisis to the long downturn since the mid '70s, and offers what is still one of the best analyses of the financial system.
For much of the 20th century there was a general trend towards greater wealth equality. That is now set in reverse, with wealth much more unequally distributed than incomes. How we can solve his crisis of wealth? This article, by Duncan McCann and Stewart Lansley, argues that the time is right for Citizens' Wealth Funds.
On the latest episode of Who Makes Cents: A History of Capitalism Podcast, Raj Patel and Jason Moore trace the relationship between capital and the environment through seven cheap things: nature, money, work, care, food, energy, and lives.