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Kevin Carson's avatar

The problem with this is all the unexamined assumptions involved in treating "markets," "liberalism," "capitalism," and "neoliberalism" as interchangeable. Markets are at least as old as the riverine civilizations.

Capitalism and the wage system were created in early modern times in close alliance with the absolute state, and relied heavily on land enclosure and state-imposed labor discipline for their creation.

Neoliberalism is a project just a few generations old, and relies heavily on states to create artificial comparative advantage via protectionist enclosure by draconian IP accords and massive subsidies to extended logistic chains.

A market economy simply requires allowing market-clearing prices to form without hindrance, regardle of the prior definition of property rules. Capitalism, as a system of rent-extraction -- and even more so neoliberalism -- requires a specific form of property rules, centered on what Polanyi called "fictitious commodities." In particular, it requires property rules that create artificial abundance of land and resource inputs, and artificial scarcity of information and technique.

Ken Kovar's avatar

Good review of a book every person who identifies as a liberal should read. I feel like a big part the technology revolution that has allowed remote work needs to be an integral part of the economy and not necessarily treated as optional. But these workers need to have the same benefits as the people in the so called drudge jobs. And also we need to have strong communities in real life and affordable housing with affordable commutes because especially given the job displacements from AI, automation and outsourcing to other countries which is still ongoing. This book seems targeted to roughly the same audience as Klein and Thompsons Abundance but seems to have a more skeptical attitude toward growth per se. 🤨

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