Aleksander Buzgalin
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Andrey Kolganov
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The authors summarise their main propositions, showing the changes during the twenty-first century in the content and forms of the market, of money, of capital, and of the capitalist system as a whole. The conclusion is reached that during the stage of late capitalism, and in particular during the twenty-first century, two contradictory, mutually interconnected trends have been developing. On the one hand, transitional relationships are taking shape that are uneven in terms of space and time and that include features both of the capitalist system and of the post-capitalist realm of freedom. These transitional forms include the social delimitation and regulation of the market and capital, and the partial redistribution of profit to the advantage of society. On the other hand, new relations of alienation are taking shape and even more powerful than previously. These include the total market for simulacra; virtual fictitious financial capital, dominating the real sector and all of society; and the exploitation not just of industrial workers but also of creative workers, of world culture, and of nature. The final conclusion of the book is that late capitalism is the ‘sunset’ not only of the capitalist mode of production (or as Costas Panayotakis has observed, of the capitalist mode of destruction), but also of the entire epoch that Marx and Engels very deliberately termed the ‘realm of necessity’.

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Twenty-first-century capital

Critical post-Soviet Marxist reflections


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