Following up my initial response to Lane Kenworthy, I decided to approach the question from a different direction and ask “Would we be better off without corporations?”. That is, I’d like to consider a society in which all large enterprises were publicly owned. To be clear, I’m talking about corporations in the ordinary sense of the term, with large numbers of shareholders and employees, not about the (relatively recent) use of company structures to produce tax benefits and limited liability for small businesses. There would still be room for owner-operated private businesses, worker-controlled co-operatives, partnerships and perhaps some other forms of business I haven’t thought about.

I won’t get into disputes about whether this would constitute socialism, except to say that it would be radically different from any version of capitalism we’ve seen so far.I’m also going to reverse the burden of proof implicit in Kenworthy’s approach. I start from the assumption that the expansion of corporate power under the neoliberal (or market liberal) policy package of privatisation, financialisation and deunionisation that has prevailed since the 1970s has been bad for most of us.

Given that neoliberalism is a term that’s often used loosely, I’ll try to be more specific about the adverse effects that can be tied specifically to the resurgence of corporate power.

The most obvious is the growth in inequality that has coincided with the rise of neoliberalism and corporate power. Virtually every aspect of neoliberal policy reform from increasing capital mobility to union-busting to flattening of tax scales has contributed to increased inequality. Moreover, they all reinforce each other.
?So, if we can do without for-profit corporations without incurring significant economic costs, we should.

I started looking at this on a sector-by-sector basis but then realised I would need to write a whole book in reply. So, over the fold, some disorganized thoughts
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Settling in for the long haul

by Maria on July 5, 2022

A couple of tweets flicked across my screen in the past week or so from people I don’t know asking how, perhaps a year or two in, the knowledge settles across your shoulders that you’re not recovering from long covid and may not ever fully recover, you, well, deal? No surprise; I have thoughts and feelings about this. But, surprise (to me anyway); the series of moments when it seeps into your bones that no one and nothing is coming to rescue you are emotionally just really fucking hard, and I’ve shied away from thinking too much about this period of my life. Partly because I read the tweets from these people who may have this and far worse ahead of them, and I don’t want to make any of it the tiniest, least perceptible bit harder. But also because that time for me was a long interstitial of brain fog and denial, hopes raised and dashed, chasing after a doctor or a programme or sure fire cure of some kind and just being repeatedly floored by disappointment while slowly realising I was no longer, really, a person in the world, a person with friends and fun and any kind of over-arching telos in my life, and partly because I HATE stories that resolve with ‘I just had to get used to it and when I did, things didn’t get better but I felt slightly better about them.’

Reader, I just had to get used to it.

This will be a digressive piece. I come at these things and flit away, a bit like the tweets that flash up from people saying stuff like ‘my parents are starting to believe the doctors and are telling me it’s psychological, I just don’t want to be well, I have literally nowhere else to go.’ I mean, what do you do with that? You can say, well, this is a mass disabling event, there are so many more of you now that even doctors are staying sick and occasionally even saying ‘ok it’s real now even I get it’, so there’s more chance you’ll be believed and hundreds of times more money going into real research than did for the last couple of decades. But that’s not going to help the college student who’s returned home to a stalled life and a support system that seemed encompassing at first, but which is now coldly, methodically, pulling its arms away when the kid doesn’t recover in a socially acceptable period of time. (And that scenario, to be fair, is still the Cadillac of long covid support systems.)
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Would Democratic Socialism be Better?

by John Quiggin on July 5, 2022

(Reposted, as I previously forgot to open comments)

I’ve just received a copy of Lane Kenworthy’s latest back Would Democratic Socialism be Better (Shorter LK: “capitalism, and particularly social democratic capitalism, is better
than many democratic socialists seem to think”).

The book is a follow-up to his Social Democratic Capitalism, which made the case that the USA would be better off moving to a Nordic model of social democracy.

I’m hoping to make a longer response soon, but I thought I’d begin by summing up the argument as I see it, and the reasons I’m unconvinced.

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