e-flux Conversations has been closed to new contributions and will remain online as an archive. Check out our new platform for short-form writing, e-flux Notes.

e-flux conversations

Is a postcapitalist future any closer today that it was in the aftermath of the 2008 economic crisis?

Or is it even further away?

The postcapitalist future is already here. The 2008 ‘crisis’ was a very clear demonstration of this fact. The American federal reserve transferring hundreds of billions to banks is the opposite of Adam Smith style free markets. What we have now is oligopoly, wich of course has a media wing that reframes everything under the Foundational Myths. Just as postmodernism doesn’t mean there are no longer any modernist buildings or paintings hanging around, postcapitalism can still accommodate many classically capitalist transactions. However the macro economic shift of the latest stages of globalism has been a re-emergence of the ‘state’ apparatus as a coercive market force. Cross reference all the current mega-trade deals for more evidence.

Relevant link posted by @morgan in the topic: Does Accelerationism lack an economic theory?

So, in conclusion, deindustrialisation is necessary for post-capitalism – it is something to be applauded and not nostalgically lamented. The future must be oriented towards a post-work society, but getting there will involve acknowledging class has changed, and that political power must be rethought.

2 Likes