In their recent work, Lisa Adkins, Melinda Cooper and Martijn Konings challenge traditional employment-based class models, arguing that asset ownership, particularly housing, is now central to understanding class dynamics in the present conjuncture, which some critics characterize as rentier capitalism. This paper examines the historical antecedents of their analysis, especially its relationship to the work of Peter Saunders in the 1990s. It also provides commentary on some of the criticisms of their approach and reflects on the analytic utility, (...) or otherwise, of their asset-based class schema considering these criticisms. (shrink)

‘Rentier capitalism’ is the term increasingly used to describe economies dominated by rentiers, rents, and rent-generating assets. A growing body of scholarship considers how the ownership of such assets by individuals and households is reshaping patterns of class and inequality and accordingly requires the reconceptualisation of the latter phenomena. The significance of company-owned assets and corporate rents for class, inequality and their conceptualisation has not been considered, however. This article offers an exploratory investigation along these lines, highlighting the (...) importance of employees’ working relationship to company-owned, rent-generating assets for their class position. The article further reflects on how developments in this regard might be approached from the perspective of Marx’s writing on value, labour and class, and the challenges that those developments potentially pose to Marxian concepts. (shrink)

This paper compares and contrasts the basic income proposal with the alternative policy proposal of the state acting as employer of last resort. Two versions of the UBI proposal are distinguished: one is hard to differentiate from expanded welfare state provision. Van Parijs’s proposal is radical enough to qualify as major egalitarian revision to capitalism. However, while it removes from a capitalist class the power to determine the terms on which others labour, it leaves this class in place and (...) able to exert other powers that distort the macro-economy. These include pecuniary emulation, demand pull inflation, and political resistance to full employment so that the rentier class does not have to contend with entrepreneurs *and* the working class over the distribution of the productive surplus. The state as employer of last resort proposal addresses these deeper issues while also claiming that inflationary pressure will undermine the UBI alternative. (shrink)

The current crisis is one outcome of the financialisation of contemporary capitalism. It arose in the USA because of the enormous expansion of mortgage-lending, including to the poorest layers of the working class. It became general because of the trading of debt by financial institutions. These phenomena are integral to financialisation. During the last three decades, large enterprises have turned to open markets to obtain finance, forcing banks to seek alternative sources of profit. One avenue has been provision of (...) financial services to individual workers. This trend has been facilitated by the retreat of public provision from housing, pensions, education, and so on. A further avenue has been to adopt investment-banking practices in open financial markets. The extraction of financial profits directly out of personal income constitutes financial expropriation. Combined with investment-banking, it has catalysed the current gigantic crisis. More broadly, financialisation has sustained the emergence of new layers of rentiers, defined primarily through their relation to the financial system rather than ownership of loanable capital. Finally, financialisation has posed important questions regarding finance-capital and imperialism. (shrink)

Using a case study of Alberta, Canada, this paper demonstrates how a geographic critique of fossil capitalism helps elucidate the tensions shaping tar sands development. Conflicts over pipelines and Indigenous territorial claims are challenging development trajectories, as tar sands companies need to expand access to markets in order to expand production. While these conflicts are now well recognised, there are also broader dynamics shaping development. States face a rentier’s dilemma, relying on capital investments to realise resource value. Political (...) responses to the emerging climate crisis undercut the profitability of hydrocarbon extraction. The automation of production undermines the industrial compromise between hydrocarbon labour and capital. Ultimately, the crises of fossil capitalism require a radical transformation within or beyond capital relations. To mobilise against the tar sands, organisers must recognise the tensions underpinning it, developing strategies that address ecological concerns and the economic plight of those dispossessed and abandoned by carbon extraction. (shrink)

In a larger context of an egalitarian project which aims to reformulate capitalism a job guarantee program in the form of a State as an Employer of Last Resort is considered superior to Unconditional Basic Income by many, namely Alan Thomas. This article claims that most of the arguments used to assert the superiority of SELR fail their objective, for the following reasons: first, SELR falls short in its reformulation of capitalism because neither SELR nor UBI alone can (...) euthanize the rentier class. Second, most accounts are based on a flawed assumption that UBI leads to rampage inflation. Third, if macroeconomic considerations are not enough to justify implementing SELR over UBI, then insisting on the superiority of SELR can only stem from two types of moral reasons: on one hand from a perfectionist view of empowering the worst-off through labor and on the other from demands and obligations of reciprocity. We argue that these two moral-based reasons fall short of providing a justification for the superiority of SELR over UBI. We conclude our paper defending the possibility of conciliating the two policies. (shrink)

This article examines the political economy of French imperialism from a critical Marxist perspective. It demonstrates how France has maintained a major role on the international scene, especially militarily, despite experiencing a relative decline in world economic power since the 1990s. In this regard, three features have marked the French imperial project: (1) the core role of state institutions and corporate elites in making French capitalism, and the protracted closeness of the state-capital nexus; (2) the strength of militarism in (...) economic, political, and social realms; and (3) the consolidation of rentier interests not only in the corporate power bloc, but also at a political level. Over the past century, these three dynamics have underpinned and reinforced a particular project of empire in France – one that bears relevance to current debates on globalisation and the ‘new imperialism’. By examining these issues, this paper seeks to further develop the Marxist theory of international political economy. (shrink)

This volume explores whether the concept of the common good might be retrieved and become central in contemporary religious social thought. Contributors include: Charles C. West, John J. Collins, Ralph McInerny; J. Philip Wogaman, Charles E. Curran, Richard John Neuhaus, Dennis P. McCann, Ernest Bartell, Michael Novak, Charles K. Wilber, John W. Cooper, Gar Alperovitz, Richard T. DeGeorge, Gerald Cavanagh, William J. Cunningham, Peter Mann, Bette Jean Bullert and David Vogel. Co-published with the Notre Dame Center for Ethics and Religious (...) Values in Business. (shrink)

Marxism is a materialist theory that centers economic life in its analysis of the human social world. This materialist orientation manifests in explanations that take economic class to play a fundamental causal role in determining the emergence, character, and development of race-and sex-based oppression—indeed, of all forms of identity-based oppression within class societies. To say that labor is mediated by class in a class-based society is to say that, in such societies, the class-based division of that activity which produces and (...) reproduces the human species is the definite form in which labor appears, and that the human life which is the product of that self-making activity bears its stamp. Marxism’s emphasis on economic factors as central in the constitution and development of human life has been seized upon as evidence of its alleged “class reductionism”—its supposed tendency to think of all aspects of human life as direct and simple expressions of a class relation. No such thing follows; quite the opposite, a correct understanding of the relationships among capitalism, racism, and sexism only further highlights how central the struggle against each is to the struggles against any of the others. (shrink)

Some years ago Ed Freeman and William Evan wrote an article offering a Kantian stakeholder theory of corporate responsibility. Ed was kind enough to allow Tom Beauchamp and me to publish that previously unpublished piece in the second edition of Ethical Theory and Business. That article has appeared in every subsequent edition. But a Kantian theory of stakeholder relationships is not, I believe, a complete Kantian theory of the modem corporation. I believe Ed originally intended to expand that paper into (...) a larger project but Ed’s philosophical interest in pragmatism has distanced him from Kantianism and his writings in stakeholder theory have gone in a different direction. Indeed in this postmodem feminist anti-foundationalist age, Kant is very much out of fashion. Since I am always out of fashion I had no trouble promising Ed I would complete the Kantian piece of the project. This essay is the condensed version and a partial fulfillment of my promise. A Kantian always keeps his promises. (shrink)

In this article, we explore how digital marketers think about marketing in the age of Big Data surveillance, automatic computational analyses, and algorithmic shaping of choice contexts. Our starting point is a contradiction at the heart of digital marketing namely that digital marketing brings about unprecedented levels of consumer empowerment and autonomy and total control over and manipulation of consumer decision-making. We argue that this contradiction of digital marketing is resolved via the notion of relevance, which represents what Fredric Jameson (...) calls a symbolic act. The notion of the symbolic act lets us see the centering of relevance as a creative act of digital marketers who undertake to symbolically resolve a contradiction that cannot otherwise be resolved. Specifically, we suggest that relevance allows marketers to believe that in the age of surveillance capitalism, the manipulation of choice contexts and decision-making is the same as consumer empowerment. Put differently, relevance is the moment when marketing manipulation disappears and all that is left is the empowered consumer. To create relevant manipulations that are experienced as empowering by the consumer requires always-on surveillance, massive analyses of consumer data and hyper-targeted responses, in short, a persistent marketing presence. The vision of digital marketing is therefore a fascinating one: marketing disappears at precisely the moment when it extends throughout the life without limit. (shrink)

Samson Liberman ABSTRACT: The aim of this paper is a socio-philosophical analysis of attention deficit phenomenon, which is being detected at the intersection of several subject areas. The main methodological instrument of the study is a Marxist principle of alienation. Alienation of attention, which, on the one hand, is being ….

Volume 25, Issue 4, June 2020, Page 493-494.

A collection of classical and contemporary sources highlighting the radical potential of the individualist anarchist tradition.

ABSTRACT Reflecting on the North/south dialogue, I consider questions of global justice. I argue that questions of global justice are just as genuine as questions of domestic justice. A too narrow construal of the circumstances of justice leads to an arbitrary forestalling of questions of global justice. It isn't that we stand in conditions of reciprocal advantage that is crucial but that we stand in conditions of moral reciprocity. I first set out concerning the situation in the North and the (...) South and the relations between them something of the facts in the case coupled with some interpretative sociology. Such investigations show massive disparities of wealth and condition between North and South and further show that these disparities have been exacerbated by the interventionist policies of the West. I then, while remaining mindful of the strains of commitment, argue that justice requires extensive redistribution between North and South but that this can be done without at all impoverishing the North, though to do so would indeed involve a radical re‐ordering of the socio‐economic system of the North. (shrink)