Whither Capitalism?: Internalizing the Market and Free Investment

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Posted on 2019-12-13, by rizentrop.

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Whither Capitalism?: Internalizing the Market and Free Investment This book is the first to clarify the essential meaning and serious impact of globalization at the most abstract level from the point of view of Polanyi's three socioeconomic principles of exchange, reciprocity and redistribution. It also provides a theoretically coherent explanation of the evolution of the market and capitalist economies with respect to the advancement of commodification through Marx's internalization of the market into the community and state. Globalization is the long-term tendency of the market to extensively expand and deepen, and of the community and state to contract and become shallower. The ultimate goal of globalization is free investment capitalism for all people – not only capitalists and speculators, but workers, students, and housewives as well. The book also examines Hayek's criticism of a centrally planned economy and Lange's proposal of market socialism in the “Socialist Calculation” debate, which has been ongoing since the 1920s, and acknowledge
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