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- W2562367644 abstract "We identify three underlying lines of fracture embedded in the core structures of global capitalism as practised today. The first concerns the impact of dogmatic neoliberal policies in a globalized world—‘there is no alternative’—and the various ways they are propelling economic life into a downward spiral: stagnant wages for most people, rising inequality, falling tax revenues and consequently a deficiency of effective demand across the global economy accompanied by the increased dependence of consumers and governments on debt. The failure of governments since 2008 to institute regulatory reforms capable of avoiding further financial turbulence only intensifies these uncertainties and divisions. Second, the virtually unquestioned emphasis on shrinking the state and privatizing public services and enterprises often worsens inequality, exposes workers to further job and income insecurity, and creates lucrative and guaranteed profit streams for favoured companies without increasing the quality of public services. Moreover, the evocation that ‘public’ equals ‘waste’ while ‘private’ means ‘efficiency’ ignores the reality that state funding and the collective nature of scientific research have together been critical factors in the development of many key advances including the Internet, bio-technology, space and other technologies. Third, the chapter critiques the assumption that economic growth and competition constitute entirely ‘rational’ and legitimate actions for modern people to pursue in perpetuity. It also questions the argument that these offer the only solution to overcoming poverty, coping with ageing societies, countering the destructive effects of inequality and dealing with environmental crises." @default.
- W2562367644 created "2017-01-06" @default.
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- W2562367644 date "2016-12-27" @default.
- W2562367644 modified "2023-09-23" @default.
- W2562367644 title "Living with Twenty-First-Century Capitalism" @default.
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- W2562367644 doi "https://doi.org/10.1057/978-1-137-55266-2_4" @default.
- W2562367644 hasPublicationYear "2016" @default.
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