Capitalism, Degrowth and the Steady State Economy: Debating Future Economic Models

This book examines the contemporary state of the capitalist economyand its future trajectory in a world characterized by multiple crises from population growth to ecological damage. Setting an understanding of modern capitalism in global historical context, chapters consider the uncertainty of capitalism’s future and argues that capitalism must adapt dramatically to survive.. The book examines the major problems that a capitalist system faces, including inequality, organized crime, uncontrolled technological development, polarizing geopolitics, food security and climate change. To address these multifaceted challenges andminimize the impact of capitalism in exacerbating them, the book discusses the potential viability of a ‘steady state’ economic model and a de-growth approach to the global economy. It also considers various alternative models for the future, including eco-socialism and participatory socialism. This book deftly weaves together perspectives on a wide variety of issues and will be a useful resource for scholars interested in Marxist economics and heterodox economics, political economy, economic development and economic thought. Prologue Captatio Benevolentiae Introduction Reference Contents List of Figures List of Tables 1 Some Methodological Issues 1 Capitalism Is Not a Human Being 2 The Question of Time 3 Exogenous and Endogenous Factors 4 Globalization 5 Polycrisis References 2 Which Capitalism? 1 The Basic Characteristics of Capitalism 2 The Motivations of Individuals 3 The Need for Continuous Development 4 Consumerism 5 Population 6 The State 7 Capitalist Countries Are Not All the Same 8 Imperialism, Globalization and Global Capitalism 9 What Capitalism References 3 Capitalism Has an End 1 Marx and Engels 2 Joseph Schumpeter 3 Paul Baran, Paul Sweezy and Eco-socialists 4 Conclusions References 4 The Future of Capitalism Is Unknown 1 The Future of Capitalism Is an Open Question 2 The Future of Capitalism Will Be Bleak 3 Capitalism Has a Future, but It Is Not Necessarily a Good One 4 Capitalism Is at Its End, but the Future Is Unknown 5 Capitalism Has Become Dangerous 6 The Role of Technological Development in the Decline of Capitalism 7 Capitalism Will Become Post-Capitalism 8 Conclusions References 5 Capitalism Has Problems but Will Survive 1 The Clash of Capitalisms 2 Markets Need the State 3 Capitalism Solves the Problems It Creates 4 Capitalism Needs Better Management 5 Keynes: Capitalism Will Survive and Bring Abundance 6 Conclusions References 6 Population and Environment 1 Overpopulation 2 The Environment 3 Labor, Land, Capital and Technology 4 The Maximum and the Optimal References 7 Problems of Modern Capitalism 1 Growth Rates of the Economy 2 GDP Per Capita 3 Distribution of World GDP by Country 4 Hunger and Poverty 5 Economic Inequality 6 Demonstrations (protests) and Armed Conflicts 7 Organized Crime, Tax Evasion, Corruption 8 Climate Change 9 Food Production 10 In Summary References 8 The Future of Capitalism 1 The Variables 2 Production and Distribution of the Product with Growing Population 3 The Prediction 4 The Time of Realization of the Prediction 5 How Will the Food Shortage Problem Be Solved? 6 Conclusion Appendix References 9 The Future of Capitalism Will Not Be Common (for All Countries) 1 Differences Between Countries Polity Economic Inequality Organization of Political Forces The Composition of the Population Available Resources Relative to Population Food Insecure Countries The History of Insurgencies and Conflicts Population Density in Large Cities Production of Basic Agricultural Products Wheat Corn Barley, Oats Rice 2 Possible Developments by Country 3 Conclusions References 10 The Future of Capitalism with a Steady-State Economy 1 The Capitalist Economy with a Fixed Population 2 Factors Contributing to Population Growth 3 The Optimal Population Size 4 The Role of the State to Protect the Environment 5 The Role of Technology 6 Steady-State Economy: Capitalist or Socialist? 7 Efficiency Versus Freedom 8 Conclusion Appendix A1. Calculation of Optimal Population Size A2. Graphical Presentation of the Steady-State Economy A3. Creating a Market for Human Reproduction Rights A4. The Central Idea of the Steady-State Economy A5. The I = PAT Equation References 11 After Capitalism? Some Suggested Models 1 The Model of De-growth 2 The Model of Eco-socialism 3 The Model of Participatory Socialism 4 Oskar Lange’s Model 5 China, Cuba and Vietnam 6 Comments References Synopsis Epilogue References Index