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Remaking Scarcity: From Capitalist Inefficiency to Economic Democracy [Paperback]

Costas Panayotakis

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Book Description

Sept. 15 2011 0745330991 978-0745330990
The dominant schools of neoclassical and neoliberal economics tell us that material scarcity is an inevitable product of an insatiable human nature. Against this, Costas Panayotakis argues that scarcity is in fact a result of the social and economic processes of the capitalist system.
 
The overriding importance of the logic of capital accumulation accounts for the fact that capitalism is not able to make a rational use of scarce resources and the productive potential at the disposal of human society. Instead, capitalism produces grotesque inequalities and unnecessary human suffering, a toxic consumerist culture that fails to satisfy, and a deepening ecological crisis.
 
Remaking Scarcity is a powerful challenge to the current economic orthodoxy. It asserts the core principle of economic democracy, that all human beings should have an equal say over the priorities of the economic system, as the ultimate solution to scarcity and ecological crisis.

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Review

"This book combines theoretical boldness and the determination to extend Marxian theory. It deserves to be read as another impressive product of the global rethinkings of Marxism now engaged in building a Marxism for the twenty-first century." -- Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst

"Capitalist-produced scarcity proves to be an extraordinarily enlightening vantage point from which to analyze both capitalism and its socialist alternatives. Panayotakis's book provides an extremely scholarly, insightful and well-argued contribution – with ecology and feminism given the attention often denied them – to this crucially important literature. Highly Recommended!" -- Bertell Ollman, Department of Politics, New York University, author of Dance of the Dialectic: Marx's Method

"Extremely timely ... Panayotakis develops a critical approach to an issue that is central to neo-classical economics but rarely the subject of critical analysis." -- Molly Scott Cato, Reader in Green Economics, Cardiff University

About the Author

Costas Panayotakis teaches Sociology at New York City College of Technology. He has published on political economy, ecology, and social movements and has been interviewed by numerous radio and TV programs in the United States and abroad. He is the Book Review Editor of the international journal Capitalism Nature Socialism.

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