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I wrote a book about Starbucks a few years ago, so my email started to buzz with Google alerts when the company announced that it would help to provide free education for its employees. The New York Times, the Huffington Post, and Business Week, among others, jumped on the story. A day or so after the announcement, Starbucks CEO, Howard Schultz, appeared on the Daily Show with Jon Stewart, winning mad praise from the host for having “venti balls” to make such a bold move.

As Starbucks officials explained it, the deal offered to reimburse employees for a portion, not all, of their tuition, but only for online classes hosted by Arizona State University’s Web server. Starbucks publicists talked about the company’s “unique” and forward-looking mission to build a people-based corporation that valued individuals and communities as much as profit. …

In a few days, the eyes of millions of people around the world will be fixed on their TV screens, following a ball rolling in some shining green field in Brazil. They will be expecting to witness one of the most exciting World Cups in history; after all, we Brazilians live in the country of football. But probably very few of these spectators know that more than 250,000 Brazilians had their rights violated and their lives harshly disrupted in the process of making such a sport spectacle possible. Entire communities were evicted to build the facilities for the games and the infrastructure to receive the tourists. The slums and the peripheral neighborhoods of major cities were militarized in a process euphemistically referred to as “pacifying.” Workers were displaced and injured, and died building the new stadiums required by FIFA, while their labor rights remained unobserved. …

There is a widespread sense today that capitalism is in critical condition, and more so than ever since the end of the Second World War. Looking back, the crash of 2008 was only the latest in a long sequence of political and economic disorders that began with the end of postwar prosperity in the mid-1970s. Successive crises turned out to be ever more severe, spreading more widely and rapidly through an increasingly interconnected global economy. Global inflation in the 1970s was followed by rising public debt in the 1980s, and fiscal consolidation in the 1990s was accompanied by a steep increase in private sector indebtedness (Streeck 2011; 2013a). For four decades now, disequilibrium has more or less been the normal condition of OECD capitalism, both at the national and the global levels. In fact, with time, the crises of postwar capitalism have become so pervasive that they are increasingly perceived as more than just economic in nature, in a rediscovery of the older notion of a capitalist society: …

In our opinion, the document drafted by Julia Ott and Will Milberg for the new Robert L. Heilbroner Center for Capitalism Studies should be the beginning of a debate among NSSR faculty about the Center’s mission rather than a final manifesto. There are many claims in the document with which we wholeheartedly agree: the pressing necessity to return to discussing and analyzing large structures, long processes, and big questions; the idea that capitalism must be a central object of study and concern; the interpretation of capitalism as a social process; the identification of various power relations as critical determinants of economic outcomes; and the acknowledgment that economic theories operate as political ideologies. Further, we agree with Ott and Milberg that capitalism “should not be assumed.” However, we think that it should not be only “explained,” as the present document suggests, but also, by the same token, criticized. Critique, indeed, is a constitutive part of the explanation of social phenomena and processes, and explaining capitalism without criticizing it does amount to assuming it. …

It seems odd now to recall that up until a few years ago, the concept of capitalism largely had fallen out of favor as a subject of academic inquiry and critique. Most scholars in the humanities and social sciences regarded the term as too broad, too vague, too encumbered by associations with either Marxism or laissez-faire. Following the collapse of the Soviet Union, capitalism could be taken for granted, it seemed. No person or nation could escape the discipline of efficient, spontaneous, self-regulating, globalizing markets.

Economists cut economies loose from society, institutions, culture, and history. They repositioned their discipline upon models that assumed that rational, utility-maximizing individual parts represented and explained the behavior of the economy-as-a-whole. Many social scientists — especially in political science — embraced these rational-actor models. Others joined historians and humanities scholars in the “cultural turn.” …