Capitalism

The Effect of Class Consciousness on Political Preferences

Political preferences are often discussed through a one-size-fits-all middle-class lens. But empirical data shows that class significantly influences voting patterns, with growing class consciousness driving dissatisfaction with established parties. Karl Marx’s most profound insight was recognizing how commodity fetishism — the fixation on simple commodities themselves — obscures the ways that workers’ labor shapes most

Capitalism

Friedrich August von Hayek Was an Enemy of Freedom

Of all the enemies of democracy and freedom, Friedrich August von Hayek was probably the smartest. At least, he was the most influential: the structures of today’s global economy — the European Economic and Monetary Union, central banks, “balanced budget amendments” to national constitutions, and “free” trade agreements guaranteeing capital’s future profits — are essentially

Capitalism

Freedom Under Capitalism Isn’t All It’s Cracked Up to…

Libertarians argue that capitalism is superior to socialism because in capitalism anyone is free to do anything — including start a worker cooperative. In truth, capitalism constrains our options, while socialism can liberate us to live as we please. Capitalism is a system under which the means of production can be bought and sold by

Capitalism

Welcome to a Brave New World of Price Gouging

Sellers have always had access to more information than buyers, and “dynamic pricing,” which harnesses the power of algorithms and big data, is supercharging this asymmetry. If you weren’t already convinced the future of capitalism will involve an endless optimization of extractive capacity and the ensuing enshitification of every last bit of consumer life, well, get ready

Capitalism

Ayn Rand Had a Fragile Ego, Incoherent Ideas, and…

Ayn Rand believed that the path to social harmony ran through the inferior masses’ acceptance of brutal rule by their natural superiors. Her perspective was wrong, and its implications were just as grim and nasty as her atrocious personality. Those of us familiar with Ayn Rand’s ardent pro-capitalism and renowned meanspiritedness may be disinclined to