Subscribe
Share
Share
Embed
Should we be giving thanks today for our capitalist system? Maybe. But we should certainly be thankful for a 1100-page book about the history of capitalism published this week by the Harvard historian Sven Beckert. Entitled Capitalism: A Global History, this magisterial history, which took Beckert 8 years to write, covers the last thousand years of our increasingly dominant capitalist world. In fact, Beckert suggests, capitalism has become so ubiquitous that most of us can’t imagine an alternative economic system. If we are fish, then it’s our water. So what, exactly, were the origins of capitalism? And is there really an alternative economic system? What, if anything, will come after capitalism? A happy (capitalist) Thanksgiving everyone.
1. Capitalism Isn’t Natural—It’s Historical Capitalism is a radical departure from previous forms of economic life, not the default state of human exchange. Because it’s historical, it had a beginning—and anything with a beginning can have an end.
2. The Death of Capitalism Has Been Wrongly Predicted for 200 Years From Marx onward, critics have forecast capitalism’s imminent collapse. Beckert is skeptical of these predictions—most of capitalism’s history came after someone declared it finished.
3. There’s No Going Back to the Pre-Capitalist Village The nostalgic alternative—returning to some pre-modern arrangement—is both impossible and undesirable. Feudal lords extracting surplus from peasants, subsistence farming at the margins of survival: there’s nothing romantic about scarcity and exploitation.
4. We Have the Means to Solve Our Problems—We Lack the Political Will The capitalist revolution has given us unprecedented productive capacity. We could feed everyone, educate everyone, provide universal healthcare. The obstacles aren’t material—they’re political choices.
5. AI Could Liberate Us or Concentrate Wealth Further—It’s a Political Decision If artificial intelligence delivers massive productivity gains, those gains could go to a tiny elite or be distributed broadly through shorter work weeks, better wages, expanded education. The technology doesn’t determine the outcome. We do.
Keen On America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Nobody asks sharper or more impertinent questions than Andrew Keen. In KEEN ON, Andrew cross-examines the world’s smartest people on politics, economics, history, the environment, and tech. If you want to make sense of our complex world, check out the daily questions and the answers on KEEN ON.
Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best-known technology and politics broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running show How To Fix Democracy and the author of four critically acclaimed books about the future, including the international bestselling CULT OF THE AMATEUR.
Keen On is free to listen to and will remain so. If you want to stay up-to-date on new episodes and support the show, please subscribe to Andrew Keen’s Substack. Paid subscribers will soon be able to access exclusive content from our new series Keen On America – keenon.substack.com