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New Spirits of Capitalism?Crises, Justifications, and Dynamics$
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Paul du Gay and Glenn Morgan

Print publication date: 2013

Print ISBN-13: 9780199595341

Published to Oxford Scholarship Online: January 2013

DOI: 10.1093/acprof:oso/9780199595341.001.0001

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Capitalism and Its Criticisms

Capitalism and Its Criticisms

(p.60) Chapter 3 Capitalism and Its Criticisms
New Spirits of Capitalism?

Eve Chiapello

Oxford University Press

The history of capitalism cannot be separated from history of its criticisms. Transformation of the economic system has always partly arisen through recuperation of critical ideas, often in a time of crisis when the search for alternatives intensifies because the usual remedies are no longer working. The current unprecedented crisis of capitalism, at once social, ecological, moral, economic and financial triggers an increasing number of initiatives trying to diagnose the ills afflicting us and making change proposals. Capitalism seems thus to be embarking on a new cycle of recuperation, during which a criticism will be assimilated. This chapter suggests that a new form of criticism — ecological criticism — which was very much present in the 1970s unrest, but not to a point where it could reorient capitalism, has now become a central element in the recuperation and restructuring of capitalism. What are the differences between this cycle of recuperation and its predecessors? To answer this question, the chapter gives first a more detailed presentation of the framework of analysis, then it provides a detailed review of the history and propositions of the different criticisms of capitalism, ending by identifying the "third ways" currently under discussion to reform capitalism.

Keywords:   criticisms of capitalism, ecology, crisis

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