The future of capitalism: trends, scenarios and prospects for the future

Delanty, Gerard (2019) The future of capitalism: trends, scenarios and prospects for the future. Journal of Classical Sociology, 19 (1). pp. 10-26. ISSN 1468-795X

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Abstract

The article provides a framework for thinking about how the question of the future of capitalism might be addressed. One of the problems resides in the very definition of capitalism and of what its defining features consist of and whether we should be talking about ‘capitalist society’ or the ‘capitalist economy’ or some kind of post-capitalist condition. Following Polanyi, Castoriadis and Habermas, it is argued that capitalism and democracy together constitute the defining dynamics of modernity and that the resulting tensions will provide momentum for the main circuits of potential change. Five scenarios for looking at the future are discussed. These will form the main substance of the article: varieties of capitalism, systemic crises of capitalism, catastrophic collapse, low growth capitalism and post-capitalism. In conclusion, it is argued that there are various possibilities that can be understood in terms of transitions, breakdown or transformation, but a likely future trend will be less the end of capitalism than the harnessing of ‘super-capitalism’ and that there are limits to the accumulation of capital.

Item Type: Article
Keywords: Capitalism, democracy, Marx, modernity, neo-liberalism, Polanyi, Schumpeter, Varieties of Capitalism, Weber,
Schools and Departments: Professional Services > Set for harvesting test Oct 19
Research Centres and Groups: Centre for Social and Political Thought
Sussex European Institute
Depositing User: Gerard Delanty
Date Deposited: 09 Oct 2018 14:32
Last Modified: 04 Nov 2019 16:55
URI: http://srodev.sussex.ac.uk/id/eprint/79296

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