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Capitalism - The Future of an Illusion | California Scholarship Online
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Capitalism: The Future of an Illusion

Fred L. Block

Abstract

Since the 1980s, a particular definition of the United States and the global economy as being “capitalist” has become hegemonic. In this view, a capitalist economy is autonomous and coherent, and it needs to be regulated by its own internal laws. This view is an illusion. The reality is that economies organized around the pursuit of private profit are contradictory, incoherent, and heavily intertwined with politics and governmental action. But the illusion remains hugely consequential, because it has been embraced by political and economic elites who are convinced that they are powerless to ch ... More

Keywords: capitalism, profit, market economy, illusion, reform, restructuring

Bibliographic Information

Print publication date: 2018 Print ISBN-13: 9780520283220
Published to California Scholarship Online: January 2019 DOI:10.1525/california/9780520283220.001.0001

Authors

Affiliations are at time of print publication.

Fred L. Block, author
University of California, Davis