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Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma
A Guide to Our Future
In "PostCapitalism," Paul Mason argues that capitalism is unsustainable and has entered a crisis phase. He offers a vision for a new economic system based on technology and collaborative production, aiming to eliminate the need for wage labor. #PostCapitalism #PaulMason
The modern form of capitalism in place throughout the Western world is called neoliberal capitalism, or neoliberalism. According to neoliberalism, the best way for a society to grow and be prosperous is for it to allow its individual citizens to pursue their self-interests in a free market.
However, neoliberalism is failing. According to the Organization for Economic Co-operation and Development, or OECD, economic growth will slow over the next 50 years, while inequality will rise by 40 percent in Western countries. Why?
One major contributing factor is the increased use of fiat money. Fiat money is currency that isn’t backed by gold or silver: it derives its value solely from the state that issues its notes.
Neoliberal economies use fiat money to counter financial crises. For example, the European Central Bank printed €1.6 trillion during the 2015 crisis, which itself originated in 2009 when certain member states in the Eurozone, such as Greece and Spain, weren’t able to repay their debts.
The neoliberal practice of countering financial crises with fiat money can cause follow-up crises years later, because fiat money allows governments to take on more debt, even if they’re unlikely to be able to repay it later on.
Financialization, which began in the 1980s, is another major cause of neoliberalism’s downfall. Financialization is the process by which stagnant incomes in the workforce are compensated with credit given by banks.
Credit cards, overdrafts, mortgages, student loans and automobile loans are now a regular part of everyday life in the neoliberal world. Over time, this bank credit means that more and more of a society’s money is imaginary, since the money is generated purely by the interest owed upon these loans and credits.
Postcapitalism (2015) offers a close examination of the failures of current economic systems. The 2008 financial crisis showed us that neoliberal capitalism is falling apart, and these blinks outline the reasons why we’re at the start of capitalism’s downfall, while giving an idea of what our transition into postcapitalism will be like.
PostCapitalism (2015) by Paul Mason is a thought-provoking exploration of the future of capitalism and the potential for a post-capitalist society. Here's why this book is worth reading:
Capitalism is an organism: it has a lifecycle – a beginning, a middle and an end.
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Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma
What is the main message of PostCapitalism?
The main message of PostCapitalism is that capitalism is unstable and that a new economic system is emerging.
How long does it take to read PostCapitalism?
The reading time for PostCapitalism varies, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is PostCapitalism a good book? Is it worth reading?
PostCapitalism is an insightful read, offering a fresh perspective on the future of the economic system. It's definitely worth reading.
Who is the author of PostCapitalism?
PostCapitalism is written by Paul Mason.