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Conceptualizing CapitalismInstitutions, Evolution, Future$
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Geoffrey M. Hodgson

Print publication date: 2015

Print ISBN-13: 9780226168005

Published to Chicago Scholarship Online: January 2016

DOI: 10.7208/chicago/9780226168142.001.0001

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After Capitalism?

After Capitalism?

Chapter:
(p.366) Chapter Sixteen After Capitalism?
Source:
Conceptualizing Capitalism
Author(s):

Geoffrey M. Hodgson

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226168142.003.0016

The final chapter considers various post-capitalist possibilities (other than traditional socialism, which was discussed critically in chapter 12). The definition of capitalism as developed in the book is crucial to this task. It is argued that among the six points used to define capitalism the one concerning widespread employment relations is most likely to be surpassed in the foreseeable future. But unlike some authors, it is not argued that the abolition of the employment relationship is a priority. Instead it is argued that growing knowledge intensity and increasing specialization within capitalism may help to transform employment into something very different. The traditional employment relationship could be displaced by self-employment or worker cooperatives. Reform of the capitalist corporation and the role of the welfare state are also considered. These issues open up policy perspectives that do not fit easily into the familiar categories of “left” and “right.”

Keywords:   post-capitalist, employment, knowledge intensive production, specialization, self employment, worker cooperatives, corporate law reform, welfare state

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