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Posts tagged with ‘capitalism’

Whole Foods CEO’s Capitalist Revival

John Mackey sees crony capitalism as an enemy of free markets, and tells Steve Forbes how his book “Conscious Capitalism” is a roadmap for social consciousness in business.

A Brief History of Doing Well by Doing Good

Nancy Koehn, Harvard Business School professor and historian, explains how socially responsible business dates back to modern capitalism’s founding era.

The Revolt of the Salaried Bourgeoisie | Slavoj Žižek

“How did Bill Gates become the richest man in America? His wealth has nothing to do with the production costs of what Microsoft is selling: i.e. it is not the result of his producing good software at lower prices than his competitors, or of ‘exploiting’ his workers more successfully (Microsoft pays its intellectual workers a relatively high salary). If that had been the case, Microsoft would have gone bankrupt long ago: people would have chosen free systems like Linux which are as good as or better than Microsoft products. Millions of people are still buying Microsoft software because Microsoft has imposed itself as an almost universal standard, practically monopolizing the field, as one embodiment of what Marx called the ‘general intellect’, meaning collective knowledge in all its forms, from science to practical know-how. Gates effectively privatised part of the general intellect and became rich by appropriating the rent that followed from that. The possibility of the privatization of the general intellect was something Marx never envisaged in his writings about capitalism (largely because he overlooked its social dimension). Yet this is at the core of today’s struggles over intellectual property: as the role of the general intellect – based on collective knowledge and social co-operation – has increased in post-industrial capitalism, so wealth accumulates out of all proportion to the labor expended in its production. The result is not, as Marx seems to have expected, the self-dissolution of capitalism, but the gradual transformation of the profit generated by the exploitation of labor into rent appropriated through the privatization of knowledge.”

Read the entire article on London Review of Books.

(Source: infoneer-pulse)

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