Democratizing finance contrasts sharply with the panicked stimuluses states keep injecting into their zombified economies. Finance should serve a global public mandate, not a nationalistic private one, that throws its power behind productive projects that can help empower global workers and pull them back from the brink. At its heart, democratizing finance aims to reallocate flows of credit and investment away from the casino of non-productive financial assets into the production of things the people and the planet need.
The pandemic and its economic effects have accelerated many of the changing dynamics that I outline in 'Monopsony Capitalism: Power and Production in the Twilight of the Sweatshop Age'. Indeed, the COVID-19 crisis lays bare the consequences of years of overreach by global brands as well as the growth, consolidation and organisation of suppliers in the apparel industry.
By Ashok Kumar|2020-06-24T10:00:25-04:00Jun 24, 2020|Categories: Blog article, New book|Comments Off on Monopsony Capitalism and Worker Power in the Global Garment Industry
There is probably no better example of why “it is much easier to imagine the end of the world than the end of capitalism” than governments’ responses to the ongoing Covid-19 pandemic. The problem is not so much that the structural and ideological hegemony of capital accumulation prevents us from imagining alternative forms of organizing the economy, society, and politics. It is that, short of a global revolution that replaces the current world order with an alternative, endless accumulation of capital seems to be speeding up the coming of the end of the world at a much faster pace than contributing to its own demise. “Socialism or barbarism” was an appropriate slogan for the global left in the early 20thcentury, but it no longer is. Considering the deep interlinked crises that are on the eve of destroying the planet, the slogan that reflects the reality of the 21st century is “Socialism or apocalypse.”
Capital, Labor, and the State during the Coronavirus Lockdown
The capitalist world-system we are living in has proven to be completely incapable of dealing with such a pandemic, which is unfortunately the least of our problems, considering the environmental, social, and geopolitical crises that are waiting at our […]
There will be a long political struggle to build an equitable Somalia, it will be complicated and frustrating, and it will require cultivating new social imaginaries that link political, economic, and cultural domains of life in a way that challenges the present era of depressing capitalist realism.
Between 1963 and 1972, there were more than 750 Black-led urban revolts in the United States in 525 cities. How did sociologists react? A number of prominent scholars dismissed these uprisings as irrational, violent outbursts, going so far as to exclude all “collective acts of violence” from protest datasets.
This reactionary position within social movement scholarship contributed to the mythology of the Civil Rights Movement as purely nonviolent, stripping political agency from the tens of thousands of Black working-class people taking to the streets across the country. Their actions, sociologists insisted, were not “political.”
Sociologists cannot make this mistake again. As Black-led revolts have emerged in all fifty states in response to the murder of George Floyd by the Minneapolis Police Department, it is our responsibility to use whatever institutional legitimacy we may have as academics to bolster the image of these struggles.
For decades, Black Americans organized peacefully to demand an end to police brutality. They were mocked, dismissed, ignored, and ever so occasionally, concessions were made in the form of ineffective reforms.
Chokeholds were already banned in New York City when the cops murdered Eric Garner. More body cameras won’t do a thing when cops turn them off prior […]
By The Editors|2020-06-13T08:42:46-04:00Jun 12, 2020|Categories: Blog article, Commentary|Comments Off on Statement of Support for Black Lives Matter and Defund the Police