This morning I was tipped off by Perverse Egalitarianism (again) about a 40-minute video lecture. The lecture is given by Dr. Richard Wolf, of University of Massachusetts at Amherst, and is called “Capitalism Hits the Fan A Marxian View.” The google-video description reads: “Richard Wolff a professor of economics at UMass Amherst talks on the current “financial” crisis and capitialism in general. A form of socialism is presented as a possible alternative. This talk was presented by the Asociation for Economic and Social Analysis and the journal Rethinking Marxism.” For about the first half-hour of it I was impressed with his smart yet accessible overview of the last 100 years of Capitalism, leading up to the last 30 or so years of wage stagnation, over-production, and the replacement of wage increases with credit-lines. As the above description indicates, he offers “a form of socialism as a possible alternative.” This is where I became less impressed, and I’d like to say a little about why.
I found Wolff’s socialist alternative lacking. That’s not to say I didn’t like the way he positioned it contra both a conservative and liberal view about the crisis and the response to it. I thought that and the talk up to that point was brilliant. The bad taste his socialist alternative leaves in my mouth has two parts.
1) Wolff assumes a lot is going on around these worker-owned companies that make them possible. He and a lot of other people before him have done the work to re-think how a company (any company) can re-organize itself according to principles worker-ownership and management. This approach, more syndicalist than socialist, doesn’t address the way such companies interface with the wider society that depends on them nor the wider socio-economic conditions on which they themselves depends. That leads me to the second aspect of this bad taste.
2) His proposal does not address the capitalist mode of production so much as the relations of production, and not even those so much. In fact, what he’s talking about depends on the profit-motive and the productive arrangements that make it possible, if not necessary as in otherwise top-down ran Capitalism. This has two unpleasant blind-spots in-itself.
On the one hand, when a company depends on private profits for what it does, it is still at odds with government regulation, which cuts into profits. Wolff might argue that the enlightened working-class folks running their own company know that the regulations and taxes (he said nothing of taxes though) are for the workers’ own benefit, so they would not have a problem with them. What’s the point of making a profit then, particularly a profit destined to decline according to the very same processes Wolff elaborated earlier in his talk? The only conceivable point is that profit is never merely a means nor an end, but always both. In light of that, the self-consuming logic of Capital will explode these like all other relations of production, lest it simply be run into the ground.
On the other hand, “democratizing” the work-place in this syndicalist fashion does not over-come the essential privatization of an otherwise social(ist) movement. The workers depend upon their company as an engine of profit and not the State as the guarantor of social equity, which competes with the profitability of these worker-owned/managed companies. It’s only a partial socialization, both of losses and profits. While better than the current arrangements, the fundamental problem of the Capitalist mode of production is not properly addressed and will undo any relatively equitable relations of productions when they endanger profits, as it did in the mid-20th Century with trade unions and New Deal regulations.
In short, from Dr. Wolff’s talk, his “socialism” is not much better, if all that different, from what Marx critiqued in the Communist Manifesto as “petty-bourgeois socialism.”