published in Catalyst
Kotz argues that the current conditions of capitalism in the United States, including the growing inequality of recent years and the onset of the global pandemic, open the door for progressive policies. He cites the theory that capitalism is divided into social structures of accumulation (SSA) relative to the "form" of capitalism during that period. The neoliberal SSA is coming to an end: smaller and smaller economic growth simultaneously leads to increased inequality, which leads to more radical forms of politics to overhaul the broken system. Kotz believes the Biden administration has the ability to push for progressive change and open up a new era.
759 days ago