Chapter 4 Production of the consumer society under capitalism

Simon Stander

A chapter in Why Capitalism Survives Crises: The Shock Absorbers, 2009, pp 91-118 from Emerald Group Publishing Limited

Abstract: Capitalism has proved to be by far the best society at producing surpluses. Other societies at particular points in history have been effective, too. For instance Ancient Egyptians were obviously good at it, directing their surplus into building pyramids and great monuments. The Mayans, Incas and Aztecs were good at it too, in the same way as were the Neolithic builders of Stonehenge in England, the Callinish stones in the Hebrides and Carnac in Britanny. Capitalism, however, is unique in the sense that its capacity to produce surpluses far exceeds that of any other period or system. In addition, the capitalist system involves a threefold possibility for the utilization of the surpluses: consumption by individuals, consumption by the state for civil and military purposes and reinvestment by capitalists to produce more surplus. The balance among these three determines the stability of the system and the pace of growth. Consumption by the state is the least new phenomenon; here again, the pyramids of the Aztecs, Mayans and Egyptians are examples. What is new, and certainly new on the scale we now observe, is that the capitalist system is dependent on those individuals who collectively make up the absorptive class, and on the host of small and medium capitalists and the huge corporations to reinvest the surplus to make more capital. However, thesystem as a whole serves to destroy the surpluseswhen capitalist processes are such that the capacity to consume diminishes in relation to the quantities produced.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rpeczz:s0161-7230(2009)0000025007

DOI: 10.1108/S0161-7230(2009)0000025007

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