Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
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Capitalist markets are not simply a set of opportunities or neutral mechanisms — they are fundamentally modes of coercion.
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Retaining the market and the price mechanism as an economic regulator, whatever redistributive embellishments might be added on, would imply an “irreducible requirement, the commodification of labour and its subjection to the same imperatives of competition” that exists under capitalism
✏️ Any socialist system that retains the market and pricing mechanism as the economic regulator would still maintain the competitive nature of capitalism. 🔗 View Highlight
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Exploitation, disequilibrium, and crisis would endure, and democratic deliberation would remain deeply restrained
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Market discipline and competition would continue to foster individualistic survival strategies, which are generated by the need of workers to compete for jobs and of capitalists to compete for profits. This would rule out any Kantian cooperative ethos.
✏️ Competition will breed individual survival strategies.. workers compete for jobs and capitalists compete for profits. No cooperation can be induced, encouraged or enforced in the face of commodification of labor and imperatives of competition. 🔗 View Highlight
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Socialism, Wood suggests, would imply reconceiving democracy “not simply as a political category but as an economic one.”
✏️ The novel approach to socialism here is to consider democracy as not just a political thing, but an economic one as well. What if democracy was applied to how people produced and subsisted, and not just how they were led and governed? 🔗 View Highlight
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the replacement of the market by “democracy as an economic regulator, the driving mechanism of the economy” as a whole. Against capitalism, socialism would thus imply democracy as “a new rationality, a new economic logic” anchored “in the interest and objectives of the self-active workers.”
✏️ In contrast to what we saw earlier, of the market and the price mechanism acting as the economic regulator. 🔗 View Highlight