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The Economic Logic of Late Capitalism and the Inevitable Triumph of Socialism

  • Book
  • © 2020

Overview

Authors:
  1. Simon Glynn

    1. Philosophy, Florida Atlantic University, Boca Raton, USA

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  • Provides a critique of political economy
  • Presents an economic and moral critique of capitalism, and an argument for both the inevitability and moral superiority of socialism
  • Written in a clear, accessible style

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Table of contents (21 chapters)

  1. Front Matter

    Pages i-ix
    Download chapter PDF

  2. Introduction

    • Simon Glynn
    Pages 1-16

  3. The Great Recession, Its Immediate Cause and Government Intervention: The Purportedly Free Market Designed by the “Invisible” or “Hidden Hand” of the Economic Elite, Conformity to the Market Therefore as Conformity to Their Interests, and the Survival of the “Fittest” Being the Survival of Those Who Can Have the Market Best Fit Them

    • Simon Glynn
    Pages 17-21

  4. Inverted Socialism: Robbing from the Poor to Give to the Rich, by the Best Politicians Money Can Buy

    • Simon Glynn
    Pages 23-30

  5. Capitalism’s Two Major Justifications Dismissed, and the Incentivized Complicity of the Bought and Paid for Politicians to Ignore, and Even Encourage, the Risky/Costly Behavior of the Economic Oligarchs

    • Simon Glynn
    Pages 31-35

  6. Supply Side Stimulus: The Bailing Out of the Finance Industry, and It’s Ensuing Self-Dealing Slowing Down Recovery

    • Simon Glynn
    Pages 37-42

  7. The Disaster of Austerity as a Road to Recovery; “Democracy,” Understood as a Source of Legitimation to be Suspended by the Financial Oligarchs in the Name of Austerity

    • Simon Glynn
    Pages 43-47

  8. Demand Side Stimulus: The Democratic Socialist Alternative

    • Simon Glynn
    Pages 49-53

  9. Capitalism’s Moral and Ontological Dilemmas: Competition, the Inevitably Exploitative Response, and the Crisis of Overproduction

    • Simon Glynn
    Pages 55-58

  10. The Crisis of Overproduction Deferred by Credit, the Consequent Growth of the Finance Industry and the Housing Bubble, and Its Bursting

    • Simon Glynn
    Pages 59-64

  11. Overleveraging, the Cascading Debt Crisis, and the Necessary Inadequacy of Increased Regulation in the Face of the Inevitable Crisis of Overproduction

    • Simon Glynn
    Pages 65-68

  12. The Counter Narrative of the Long-Term Upward Trajectory of Capitalism, and Its Costs Critically Explicated: From Colonialism to Economic Neo-Colonialization

    • Simon Glynn
    Pages 69-73

  13. The Transnational Capitalist Pyramid of Production or Supposed “Rising Tide That Lifts all Boats,” Revealed, as an Inevitably Failing Ponzi Scheme

    • Simon Glynn
    Pages 75-81

  14. Overt Abandonment of the Free Market: Government Geostrategic (Military) and Economic, International and National Intervention

    • Simon Glynn
    Pages 83-88

  15. From Crony Capitalism to Strategic Research and Development Investment, and Back Again

    • Simon Glynn
    Pages 89-93

  16. The Moral Limitations and Pragmatic Dangers to the Environment, Health, and the Economy of Technological Innovation, Under Capitalism

    • Simon Glynn
    Pages 95-98

  17. The Regulatory Response to Globalized Free-Market Capitalist Competition, and the Free Rider Strategy as Antithetical to Technological Innovation and Education

    • Simon Glynn
    Pages 99-103

  18. The Alternative: The Pragmatic and Moral Advantages of Globalized Socialist Cooperation

    • Simon Glynn
    Pages 105-112

  19. International Cooperation and the Interaction of Socialist and Capitalist Economies

    • Simon Glynn
    Pages 113-117

  20. Political Regulation of the Formerly “Free Market” and the Greater Efficiency and Social Utility of Technological Development Under Socialism

    • Simon Glynn
    Pages 119-127
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Keywords

About this book

Beginning with the economic meltdown of 2007/8, this book shows that the predatory mortgage lending and overleveraging—which is to say, the overextension of credit—which precipitated The Great Recession was a response to a crisis of overproduction reflective of an unavoidable contradiction at the heart of competitive capitalism. This contradiction, in addition to portending capitalism’s inevitable ultimate demise, invites both a pragmatic and moral comparison of (US) capitalism with (Chinese) socialism. Simon V. Glynn provides a critique of political economy and an analysis of the economic logic of capitalism, pointing to the inevitable triumph of socialism.


Authors and Affiliations

  • Philosophy, Florida Atlantic University, Boca Raton, USA

    Simon Glynn

About the author

Simon Glynn is Professor of Philosophy at Florida Atlantic University, USA.


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