Institutional redesign can eliminate capital and labour markets without banning them.
Evidence
The one-employee-one-share-one-vote system has revolutionary effects: it brings to an end share and labour markets and the Empire of Capital, it democratises workplaces and it organically diminishes the size of conglomerates. The reconfiguration of the central bank’s ledger as a common payment and savings systems has similarly revolutionary effects: without actually banning private banks, it pulls the rug from under their feet by liberating us all from our dependence on them to make payments or to store our savings. Moreover, the basic dividend provision revolutionises our way of thinking about work, time and value, liberating us from the oppressive moral equation of paid drudgery and virtue. — Yanis Varoufakis, Technofeudalism, 732
Categorization
- corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 732
- XREF: connects to: Capitalism is a singular economic-institutional ensemble that can be reinvented — Michel Foucault, The Birth of Biopolitics: Lectures at…, 904; The economy is a human creation and therefore can be transformed. — Clara E. Mattei, Escape from Capitalism, 41; Sustained capitalist mutation requires new institutional forms, not merely destruction — Shoshana Zuboff, The Age of Surveillance Capitalism, 156
Broader Connections
- Sustained capitalist mutation requires new institutional forms, not merely destruction
#expands(0.80) — Shoshana Zuboff, The Age of Surveillance Capitalism, 156 - Capitalism is a singular economic-institutional ensemble that can be reinvented
#corroborates(0.78) — Michel Foucault, The Birth of Biopolitics, 904 - The economy is a human creation and therefore can be transformed.
#corroborates(0.72) — Clara E. Mattei, Escape from Capitalism, 41