By David Schweickart
Pdf: two-page experiment, ocr/fully searchable, no longer bookmarked
In After Capitalism, David Schweickart strikes past the usual arguments opposed to globalizing capitalism to give a contribution anything completely valuable and lengthy overdue—a coherent imaginative and prescient of a manageable, fascinating substitute to capitalism. He names the program financial Democracy, a successor-system to capitalism which preserves the potency strengths of a marketplace financial system whereas extending democracy to the place of work and to the buildings of funding finance. Drawing on either theoretical and empirical study, Schweickart exhibits how and why this version is effective, dynamic, and enhanced to capitalism alongside a variety of values.
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Additional info for After Capitalism (New Critical Theory)
Ple from putting their money at risk if they so desire. These points are well taken. Small investors (who are, after all, well enough off to have something to invest) would hardly seem to be in need of pater nalistic protection. Moreover, the capitalist investment game is a positive-sum game. The small investor, although perhaps disadvantaged vis-a-vis the large investor, is still likely to make money on his investment, particularly if he is But how is this possible? How is massively positive.
The bank's own income, to be distributed among its workforce, comes from general tax revenues (since these are public employees) according to a formula linking income to the bank's success in making profit-enhancing grants and creating employment.
Since this guarantee en hances regional and community stability without encroaching on an individ ual's freedom, it should be part of the investment-allocation mechanism. (If large efficiency gains can be had by pressuring people to relocate, then the argument for per capita allocation of investment funds is less compelling although the case would have to be made that the efficiency gains are suffi cient to offset the real costs of labor migrations. In a truly democratic soci ety, investment allocations would be subject to democratic control.