theme-capitalism

These days people generally think of Detroit — with its vast expanses of abandoned real estate that have given rise to the photographic genre known as ruins porn — as the place where modernity went to die. But for a good chunk of the twentieth century, Detroit was the boomingest of boom towns. In the ten years after the introduction in 1913 of the modern moving assembly line in the automobile industry, Detroit’s population doubled to nearly 1 million. In the 30 years following that, it doubled again to become the nation’s fourth-largest city and one of its most affluent, especially for the working class. An important chapter in that story was the turning of the Motor City’s manufacturing might to arms production during the Second World War when Detroit came to embody the slogan “Arsenal of Democracy.” …

In her groundbreaking book about emotional labor, The Managed Heart, Arlie Russell Hochshild suggests that emotions are not simply stored in us waiting to be expressed: they are also produced and managed. The notion and practice of affects management, both privately and socially, are not specific to capitalism. Hellenistic philosophers made up a new word to convey this very idea: metriopatheia, from pathos, affect, and metrios, a word that conveys both the notion of measure and that of moderation. As Foucault correctly noted, the management or negotiation of pathē in Greek and Roman philosophers, and in particular in the Stoics, is constitutive part of a process of subject formation, utilizing what Foucault calls techniques of the self, through which a specific and historically determined subject constitutes himself as capable of self-determination and self-mastery through a process that was social and individual at the same time. …

“As best we can tell, the politics of the venture capital elite boils down to fending off higher taxes, keeping labor costs low and reducing the ‘burden’ of government regulation. … Silicon Valley could start by putting a stop to pretending that the sharing economy is about anything other than making a killing.” – Andrew Leonard

If you’ve heard about companies like Airbnb, Zipcar, Skype, Uber, Getaround, and Lyft, and you know a bit about crypto-currencies, you get the picture. The “sharing economy” is just as exhilarating and vexing as the Web 2.0 meme was nine years ago.

I am all there with Arun Sundararajan, professor at Stern School of Business at NYU, who describes walking down the street in New York City, musing on all the parked cars that remain unused …

University reform in the UK can be understood in light of the following dilemma: the system must expand if it is to meet the demand for skill in the labour market, but the more it expands the less it fulfills its other major function of reproducing social division.

This is crucial because the transformation of higher education being implemented under the rubric of austerity indicates that austerity is not in the first instance about cutting spending. The evidence of past austerity projects demonstrates that cuts are a means rather than the primary objective, which is social engineering. In the case of higher education, a coalition government has cut state funding for universities while raising fees, on the pretext of debt consolidation. However, the major effects will be firstly to reorganise the system along market lines, re-pivoting the relationship between the student and the institution as a consumer-enterprise one …

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 series of posts, Jeff Goldfarb and I [Iddo Tavory] have been sketching an outline for the study of the social condition — the predictable dilemmas that haunt social life. We argue that one of the core intellectual missions of sociology is to account for the ways in which social patterns set up these dilemmas that actors experience as crucial for their lives and how they define themselves.”

I have been following this inquiry into the social condition for a while, and I suggest that it will help to further understanding this condition if we take seriously the daily dramas of consumption, both as comedy and tragedy. “Say Yes to the Dress” is one of these social dramas, based on the very premise that buying a wedding dress really matters, that people do not make their consumption decisions lightly. …

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. …