I am reading an article by Paul Mason, “The end of capitalism has begun”. This article can be placed in the context of several videos exploring the same theme by radical thinkers. There is, for instance, a video by Peter Hudis, “Alternatives to Capital”; and David Harvey gave a rambling lecture from 2013 along the same lines, “The End of Capitalism”.
The three pieces are all of a type: speculation regarding the end of capitalism and of what might replace capitalism if it is at its end.
According to Mason, the end of capitalism is driven by three forces: First, capitalism has reduced the need for work, blurred the edges between work and free time and loosened the relationship between work and wages. Second, information is corroding the market’s ability to form prices correctly because, while markets depend on scarcity, information is abundant. Third, Mason notes the…
View original post 1,731 more words