Capitalism And Capitalism Essay

Satisfactory Essays
Imagining Post-Capitalism
Will Revolution get it there?

“Does Capitalism Have A Future?” is a scholarly book written by five scholars in an attempt to explore the possibility of a future collapse of global capitalism and proposes a hypothesis for the possibility of post-capitalism. Wallerstein, who is one of the scholars who wrote the book, argues that certain social movements of our contemporaneous days will create a transition to a post-capitalist world. He adds that the world’s contemporary struggle is an indication of the forthcoming new mode of production in the human history, which will most likely be a non-capitalist mode of production. “Does Capitalism Have A Future?” clearly states that there will be a struggle to determine the structure of a post-capitalist system and it also states that this change will happen soon, specifically in the next 3 or 4 decades. “What we need to analyze are the probable organizational strategies on each side in this struggle that started more or less in the 1970s and will continue in all probability to circa 2040 or 2050” .

Wallerstein dedicates a large part of his analysis to specify what he thinks are signs of the transformative stage that societies will endure. He states that the world’s scarce resources will eventually limit the capitalist system to few to none options for expansion. There are simply no large new resources to exploit. Secondly, Wallerstein explains the concept of “hegemonic cycles” which he claims is the reason behind the difficultly of establishing a central power in the world to endure capitalism. “What is meant by hegemony in a world-economy is the ability of one state to impose a set of rules in the operation f...

... middle of paper ...

...ion, taxation, and the limiting of the flows of capital and labor across international borders. Without such limits to trade, however, competition will continue to undermine profits and crisis will continue because small monopolies will be impossible to establish.

Ideally, we all want a system that puts workers before profits, that protects the earth and reverses the depleted resources. It is easy to say that in order for humanity to survive, capitalism must be abolished but what is the next stage in the human existence? It is also very easy to start a revolution in the name of dealing “capitalist inequality” but does the world need more chaos? Can our decomposing economic systems endure the revolutionary outcomes? If capitalism is doomed then how can we imagine new a mode of production that will fix what 500 years of capitalist legacy have created?
Get Access