First Edition • April 1, 1996 • 408 pages
Capitalism is hegemonic today not because it is the best we fallible humans can do but because it supports, and is supported by, special interests of immense power. This book argues that Economic Democracy, a competitive economy of democratically run enterprises that replaces capitalist financial markets with more suitable institutions, will be more efficient than capitalism, more rational in its growth, more democratic, more egalitarian, and less alienating. Against Capitalism is an ambitious book, drawing on philosophical analysis, economic theory, and considerable empirical evidence to advance its controversial thesis. It examines both conservative and liberal forms of capitalism; it compares Economic Democracy to other models of socialism; and it considers the transition to Economic Democracy from advanced capitalist societies, from economies built on the Soviet model, and from conditions of underdevelopment. The book concludes with some unconventional reflections on historical materialism, ideal communism, and the future of Marxism.