We make a living by what we get, but we make a life by what we give. The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. The whole history of the world is summed up in the fact that, when nations are strong, they are not always just, and when they wish to be just, they are no longer strong.
First of all, we've never had capitalism, so it can't end. We have some variety of state capitalism. If you fly on an airplane, you're basically flying in a modified bomber. If you buy drugs, the basic research was done under public funding and support. The high-tech system is permeated with internal controls, government subsidies. And if you look at what are supposed to be the growing alternatives, China is another form of state capitalism...The question is whether these systems, whatever they are, can be adapted to current problems and circumstances. For example, there's no justification, economic or other, for the enormous and growing role of financial institutions since the 1970s. Even some of the most respected economists pint out that they're just a drag on the economy. Martin Wolf of the Financial Times says straight out that the financial institutions shouldn't be allowed to have anything like the power they do. There's plenty of leeway for modification and change. Worker-owned industries can take over. There's interesting work on this topic by Gar Alperovitz, who has been right at the center of a lot of organizing around worker control. It's not a revolution, but it's the germ of another type of capitalism, capitalism in the sense that markets and profit are involved.
Power Systems: Conversations on Global Democratic Uprisings and the New Challenges to U.S. Empire
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First of all, we've never had capitalism, so it can't end. We have some variety of state capitalism. If you fly on an airplane, you're basically flying in a modified bomber. If you buy drugs, the basic research was done under public funding and support. The high-tech system is permeated with internal controls, government subsidies. And if you look at what are supposed to be the growing alternatives, China is another form of state capitalism...The question is whether these systems, whatever they are, can be adapted to current problems and circumstances. For example, there's no justification, economic or other, for the enormous and growing role of financial institutions since the 1970s. Even some of the most respected economists pint out that they're just a drag on the economy. Martin Wolf of the Financial Times says straight out that the financial institutions shouldn't be allowed to have anything like the power they do. There's plenty of leeway for modification and change. Worker-owned industries can take over. There's interesting work on this topic by Gar Alperovitz, who has been right at the center of a lot of organizing around worker control. It's not a revolution, but it's the germ of another type of capitalism, capitalism in the sense that markets and profit are involved.
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