The Coming Revolution: Capitalism in the 21st Century
Ben Reynolds has produced a book, The Coming Revolution: Capitalism in the 21st Century, published by Verso, that is welcome antidote to the meaningless scribblings of writers like Piketty, Mason and Harvey. Basing his work on the labor theory of value, Reynolds provides an overview of the problems facing capitalist accumulation in 2018.
Among other measures, Reynolds calls for a radical reduction of hours of labor:
“Labor is dying. As a system of distribution and a way of life, wage labor is being steadily eroded by today’s technological developments. Capitalist society is so dependent on the social construct of labor that panic is the normal response to this trend. Virtually every day we see frantic new schemes for creating jobs: offering wages for housework or Facebook posts, paying citizens to perform community service and so on. Watching these attempts to save labor is like watching a child on the beach trying to save his sandcastle by stopping the tide. It is time to stop clinging to the past and start adapting to reality. We can adapt to this process with a simple but powerful tool: reducing the amount of time that workers are required to work without a reduction in pay.”
This passage alone is enough to recommend it, but the book goes well beyond this to examine the forces driving capitalism to collapse within this century.
I will be reviewing the book. I am excited to begin.