Escape from Capitalism: An Intervention

“The decisions of economic institutions, from the Fed to the Treasury in the US to the International Monetary Fund, are not neutral, scientific, or necessarily moral. They have long failed to serve the common good,” asserts economist Mattei (The Capital Order) in this precise and cutting condemnation of capitalism. The aim of her “intervention” is to convince readers that capitalism is not the only, best, or most “natural” path forward for humanity—that it is in fact a highly “political” system propped up to serve particular elite interests. Mattei concisely and elegantly runs through common claims in capitalism’s favor—the notion that it is the only viable economic system, that it promotes political and financial freedom, that it leads to social progress—and presents counterexamples, among them the international aid that has disproportionately flowed to and propped up the modern state of Israel and the Federal Reserve’s efforts to increase unemployment for the “health” of the economic system. While some readers may wish for more time spent on the promised methods for “escape from capitalism”—an intriguing but brief chapter spotlights economic decisions made by social democratic leaders in countries like Brazil and Mexico as a model for how to disconnect from capitalism’s agenda—it’s nevertheless a persuasive takedown. Readers will come away ready for change. (Jan.)