Brancaccio, E and Passarella, MV orcid.org/0000-0001-7652-5952 (2022) Catastrophe or Revolution. Rethinking Marxism, 34 (3). pp. 317-337. ISSN 0893-5696
Abstract
This essay critically examines a statement made by former chief economist of the International Monetary Fund, Olivier Blanchard, before and during a debate with one of the authors. Blanchard argued that a Keynesian “revolution” is needed to avert a future “catastrophe.” But analyzing the historical process this essay names the law of capital’s reproduction and tendency toward centralization leads to a grim prediction: the tendency of free capital to centralize and thereby jeopardize all other freedoms threatens today’s liberal-democratic hegemonic institutions. In the face of this prospect, neither Keynesian policy nor a universal basic income seem adequate. The only revolution able to avert catastrophe is the redefinition of the most powerful tool in the history of political struggles: collective planning, subversively regarded as a factor for developing free social individuality and a newly liberated human being.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2022 Association for Economic and Social Analysis. This is an author produced version of an article published in Rethinking Marxism. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Capital Centralization; Catastrophe; Collective Planning; Karl Marx; Revolution |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 16 Mar 2022 15:48 |
Last Modified: | 07 Aug 2023 00:13 |
Status: | Published |
Publisher: | Routledge |
Identification Number: | 10.1080/08935696.2022.2031030 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:184771 |