First of all, we've never had capitalism, so it can't end…
““First of all, we've never had capitalism, so it can't end. We have some variety of state capitalism. If you fly on an airplane, you're basically flying in a modified bomber. If you buy drugs, the basic research was done under public funding and support. The high-tech system is permeated with internal controls, government subsidies. And if you look at what are supposed to be the growing alternatives, China is another form of state capitalism... The question is whether these systems, whatever they are, can be adapted to current problems and circumstances. For example, there's no justification, economic or other, for the enormous and growing role of financial institutions since the 1970s. Even some of the most respected economists pint out that they're just a drag on the economy. Martin Wolf of the Financial Times says straight out that the financial institutions shouldn't be allowed to have anything like the power they do. There's plenty of leeway for modification and change. Worker-owned industries can take over. There's interesting work on this topic by Gar Alperovitz, who has been right at the center of a lot of organizing around worker control. It's not a revolution, but it's the germ of another type of capitalism, capitalism in the sense that markets and profit are involved.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
The speaker argues that capitalism in its current form is heavily state‑influenced and that alternative models like worker‑owned enterprises could reshape markets while retaining profit motives.
In simple terms: Capitalism is mixed with state control; alternatives exist.
Explore worker‑owned models.
Themes
Mood
Type
When to use this quote
- policy debate
- academic discussion
- business strategy
- social movement
Key Concepts
Questions to Reflect On
- How can worker ownership scale?
- What limits does state control impose?
State influence may limit true market freedom.