Wolin and Saul, echoing Karl Marx, view unfettered and unregulated capitalism as a revolutionary force that has within it the seeds of its own self-annihilation. It is and always has been deeply antagonistic to participatory democracy, they said. Democratic states must heavily regulate and control capitalism, for once capitalism is freed from outside restraint it seeks to snuff out democratic institutions and abolish democratic rights that are seen—often correctly—as an impediment to maximizing profit. The more ruthless and pronounced global corporate capitalism becomes, the greater the loss of democratic space. “Capitalism is destructive because it has to eliminate customs, mores, political values, even institutions that present any kind of credible threat to the autonomy of the economy,” Wolin said. “That is where the battle lies. Capitalism wants an autonomous economy. It wants a political order subservient to the needs of the economy. The [capitalist’s] notion of an economy, while broadly based in the sense of a relatively free entrance and property that is relatively widely dispersed, is as elitist as any aristocratic system.”
Posted on: Mon, 20 Oct 2014 12:25:25 +0000
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