GREAT BOOK.
So….
Critical analysis of capitalism is back.
And….
Now it’s being integrated with green ecology, feminism, queer theory and anti-racism.
And…
We’re having a little moment with it.
It’s feeling VERY 90’s (in this regard).
The kids are digging theory and burning cop cars again.
Now if y’all can PLEASE MAKE SOME GOOD MUSIC.
Anyway.
Anticapitalism is a thing again.
And…
Here ya go!
THE CRISIS:
- ecological collapse
- financial boom and bust
- patriarchy
- racism
- LGBTQ-phobia
- addiction
- global pandemic
- for profit healthcare
- affordable housing crisis
- inflation
- unlivable wages in the gig economy
- student debt
THE GAME:
- get on top
- let wealth generate passive profit
- let China make all the stuff with essentially salve labor
- borrow all the money from China
- don’t pay it back
- buy all the oil from the Middle East
- save ours for later
- let BIPOC and LGBTQ have live action role play (LARP) with MAGA whites on CNN and FOX while the rich get richer.
- exploit cheap (care) labor.
- build a wall.
- let the rest of the world become a desert
- duke it out with Russia in the end of time
In other words, LATE CAPITALISM.
So what (precisely is) late capitalism.
POWER, PRIVILEGE AND POLLUTION:
According to my interpretation of Fraser’s argument, late capitalism is at essence a LAND, CARE and NATURE guzzling LEVIATHAN.
Essentially one big MLM PYRAMID SCAM, with a (Vegas odds) stacked deck, and WHITE, upper class heterosexual men as the house, and everyone else (BIPOC, women and LGBTQ gambling with their lives e.g. TIME, ENERGY CREATIVITY and CARE, hoping to hit a jackpot, or at least a livable wage, a home, and some security in old age. But probably (in the literal/statistical sense of the word) won’t.
In the meantime the ENTIRE GLOBE dries, warms and BURNS. As all of the earths resources (including HUMAN) are CONSUMED and CONVERTED to WEATLH of a FEW.
Hens the addition CANNIBAL to CAPITALISM and the image or the OUROBOROS, the oft recycled archetypal image of the SANKE EATING IT OWN TAIL.
Fraser asserts, quite convincingly, that there is no reforming capitalism into a GREEN, SOCIALLY JUST, RACIALLY EQUITABLE, QUEER AFFIRMATIVE RAINBOW.
If you remove ecological, and human exploitation from the mix.
Than capitalism disappears.
NEW WORLD ORDER:
Fraser RESISTS the notion that capitalism is simply an ECONOMIC model.
Fraser reconceives capitalism as an institutionalized SOCIAL ORDER that includes: COLONIALISM, RACISM, SEXISM, HOMOPHOBIA, EXPLOITATION OF NATURE, MASS INCARCERATION, BOOM AND BUST and BIG MONEY BAILOUTS as non-economic conditions for a capitalist economy to exist.
THE FOUR HORSEMEN:
Fraser lists the 4 “non-economic preconditions of capitalism as follows:
CONDITION 1: COLONIALISM & RACISM
Fraser states that the first non-economic precondition for capitalism “is a large fund of wealth expropriated from subjugated peoples, especially from racialized peoples, consisting above all in land, natural resources, and dependent unwaged or under-waged labor. Effectively stolen, this wealth serves as an ongoing stream of free or cheap productive inputs for which capital pays little or nothing.”
Capitalism converts stolen LAND and stolen (or underwater) PEOPLE into PROFITS.
In other words: capitalism needs stolen/colonized land, and subjugated/enslaved or otherwise disempowered people (BIPOC and poor whites) for free or cheep labor.
CONDITION 2: SUBJUGATION OF WOMEN
Fraser states that the second non-economic precondition for capitalism “a sizeable fund of unwaged and labor devoted to social reproduction, labor that is mostly performed by women. This carework, which “makes” human beings, is indispensable to what the system calls production, which makes things in order to make profits.”
Capitalism GUZZLES care.
In other words: capitalism also needs caretakers (mostly women) to make babies, raise children, and take care of men… for free or for cheep if you hire “help”.
CONDITION 3: EXPLOITATION OF NATURE
Fraser states that capitalism needs “a large fund of free or very cheap inputs from nonhuman nature. These supply the indispensable material substratum of capitalist production: the raw materials that labor transforms; the energy that powers machines; the foodstuffs that power bodies; and a host of general environmental prerequisites such as arable land, breathable air, potable water, and the carbon-carrying capacities of the earth’s atmosphere.”
Capitalism CONSUMES nature.
In other words: capitalism also needs natural resources to exploit and consume.
CONDITION 4: JAILS AND BAILOUTS
Fraser states that capitalism needs “a large body of public goods supplied by states and other public powers. include legal orders, repressive forces, infrastructures, money supplies, and mechanisms for managing systemic crises.”
In other words: capitalism needs police and prisons, a military industrial complex, big banks and fat bailouts for when they tank.
Capitalism imprisons BIPOC and poor people, TAXES the FUCK out of the middle class, and BAILS OUT rich the white men at the TOP when the BUBBLES POP and the BANKS TANK.
Fraser asserts that by identifying these background conditions for capitalism, we arrive at a definition of Capitalism that is not simply an economic model , but a type of social order, with colonialism, exploitation of nature, racism, and subjugation of women at its foundation.
As such, Fraser further asserts that there is no way to reform capitalism to be green, socially just, and racially equitable. That’s like trying to reform a house by eliminating the possibility of having a floor, walls, doors and a roof. You take all that away, and you’re left with nothing but a FAT MORTGAGE AND PROPERTY TAXES.
THE SOLUTION:
Fraser is the first to admit, that there probably isn’t one. But if there was. Then it would probably look an awful lot like SOCIALISM.
But not your grandma’s SOCIALISM.
And hopefully not Hitter, Stalin or Mao’s either.
What Fraser is envisioning is something like the following.
Trans-socialism: is an intersectional mode of socialist politics, economy, sexuality, and ecology.
Eco-socialism: is an egalitarian economic, political, and social structure that aims to harmonize human society with non-human ecology and meet human needs. Eco-socialists believe that eco-socialism is the only sufficient solution to the current ecological crisis.
Global trans-ecological-socialism: is a smash up of the two.
Put simply.
We need:
- a socially just
- queer affirmative
- feminist
- antiracist
- sustainable
- definancialized
- anticapitalist social order
- with growth in tech, goods and services
- without passive wealth accumulation
And it HAS to be GLOBAL.
Or we’re ALL (or most of us) GOING TO DIE.
If any of this seems interesting.
I URGE you to give this one a go.
It’s not an easy read.
It’s got a post modernist academic, Marxist (dis-mat) queer theory (Frankfort school) linguistic flare. But it’s TOTALLY doable.
And TOTALLY worth it.
Good fun.
5/5 stars ⭐️