Article1997

Capitalism and its future: remarks on regulation, government and governance

539 citations0/0 files storedReview of International Political Economy

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Political Economy and Marxism Globalization and political ideologies Economic and Social Issues

Abstract

The article relates capitalism's distinctive dynamic to the nature of the wage relation and self-valorization of capital. Capitalism has no final telos: its future remains open in the face of structural changes and social struggles. This source of capitalist dynamism also opens it to external influence. Some key changes in the 'government and governance' of economics and politics are also discussed. These include: the denationalization of statehood, a partial de-statization of politics, and the internationalization of policy regimes. Among counter-trends are the survival of the national state as an instance of meta-governance.

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References

2002The Great Transformation 1982The Limits of Capital 1989Economics and institutions: a manifesto for a modern institutional economics 1995Time, Labor and Social Domination: A Reinterpretation of Marx's Critical Theory.1977Post-Industrial Society

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