Articles & Blogs, Category = Capitalism & socialism

Category: Capitalism & socialism

Black Markets Reveal the Power of Economic Laws

“In contrast to the common perception, socialism has been unable to kill the market economy. The market went underground and turned into a black market. Black markets existed in capitalist countries as well, but they worked underground because they dealt in illegal commodities and services. The black market under socialism served the same purpose, but the list of commodities and services included mostly items of everyday and innocent consumption that people under capitalism could easily purchase in stores.”

The Moral of the Story

Oliver Wiseman, Editor of CapX, argues: “Part of what we have done at CapX is the unfashionable work of sticking up for the world as it is. That means countering a pessimistic narrative peddled by capitalism’s opponents. It means pointing out that, beyond the alarming headlines, there has never been a better time to be alive – and that this remarkable state of affairs is thanks to, not in spite of, the innovative, liberating power of the market.”

Explainer: What Is Surveillance Capitalism and How Does It Shape Our Economy?

Want to know what ‘surveillance capitalism’ is? This article explains!
“Surveillance capitalism describes a market driven process where the commodity for sale is your personal data, and the capture and production of this data relies on mass surveillance of the internet. This activity is often carried out by companies that provide us with free online services, such as search engines (Google) and social media platforms (Facebook).”

Safeguarding Technology’s Beneficial Aspects While Preventing Its Covert Use By Surveillance Capitalists

“Shoshana Zuboff coined the term “surveillance capitalism” to describe the new way companies claim private human experience as products. [In this podcast] Shoshana joins Azeem Azhar to discuss the emergence of surveillance capitalism, its pernicious and beneficial aspects, and the future for human autonomy and agency.”

View Zuboff’s book on the Moral Market bookshelf

What Lehman Brothers Tells Us About American Capitalism

” Lehman Brothers played a pivotal role in the 2008 financial crisis, but long before that it was at the center of an American economy that moved from slavery to industry to finance. In his English-language adaptation of Stefano Massini’s play The Lehman Trilogy—which just opened on London’s West End—Ben Power explores how an immigrant family’s tales of fortune and greed reveal the rot in our economic system. He talks about the play with our Economics Editor, Aaron Freedman.”

Sharing Profits and Ownership with Workers not only Make Them Happier, It Benefits the Bottom Line Too

“Near-record low unemployment has companies fumbling to find the best ways to recruit and retain workers. Our research suggests a sure-fire way to do just that: give them a real stake. By that we simply mean sharing some of the profits and even ownership with the men and women who are fundamental to their companies’ success. […] After conducting a massive, multi-year study of shared capitalism, we found that not only is it good for workers, it’s good for the bottom line too.”

Socialism in Our Time?

“Bhaskar Sunkara […] has released a new book just in time for the 2020 presidential election season called The Socialist Manifesto: The Case for Radical Politics in an Era of Extreme Inequality (Basic Books, 2019). In the book, Sunkara makes the case for why a socialist economy, government, and society is necessary, and what it might look like. He also provides an in-depth historical look at the development of socialist intellectual thought over the past 150 years. Our Economics Editor Aaron Freedman speaks with him about the past, present, and future of socialist economics.”

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