‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Ph.D., associate professor Department of Education, Aarhus university,

Why critique of capitalism? Well, Jacob asked, and I said yes! Generational theme - before post-modernism – Most of my theoretical life – therefore difficult – But: Who could resist talking about capitalism at CBS? Commonplace ideals: – Solidarity, equality, freedom – 1789… – Revolution vs. reform – or revision? Also: For my own sake – brainstorm and overview Current project: Politics between critique, authority and creation – the argument for democracy ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university, 2

What is critique? I Critique – A. Political or social contestation and opposition – Liberalist: Lack of freedom, morality and human rights (Spencer) Republican: Lack of political power, political rights and corruption of virtues (Rousseau, Paine) Communist: alienation and economic injustice (money), unequal social recognition, status (Marx) – B. Analysis and rational reconstruction – like Kant’s three Critiques Criticism – C. Aesthetic contestation, evaluation, judgement – literature, theatre, arts critique of civilisation, culture and modernity (Nietzsche) ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university, 3

What is Capitalism? Economy – Production, distribution, consumption – Value and price chain Market – Commodity form – Supply and demand – Constitution and regulation – politics and law Capitalism – Competition, wage earning and non-material value – Need for pacific – accumulation of capital (reinvestment, circulation) – Expansion of commodification (money, workforce, culture, care etc.) ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university, 4

What is value? Value – Classical political economy: Use and work (Locke), exchange (Smith), Ricardo (utility), surplus (Marx) Value vs. market price (Kant) – Moral, spiritual, aesthetic etc. Utility – Use-value, demand, exchange-value – Measured by price (not value) Marginal utility I – Neo-classical economics (Jevons, Menger, Walras): Decreasing – material consumption 20 th century: Keynes vs. Marxists and neo-classics Marginal utility II Volker Bank: Increasing – symbolic consumption (education, enlightenment, culture) ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university, 5

Why criticize capitalism? Spirit of capitalism: – Reasons to participate (Weber, Boltanski & Chiapello) – Legitimacy of social order: Security, fairness and stimulation 200 years of modern value creation: – Growth, progress, civilizing effects, freedom, democracy, power, wealth, peace, prosperity etc. But also: – Alienation, commodification, corporal suffering – Undemocratic: Property rights vs. political rights or human rights – Injustice, wage slavery, starvation, pain – Destruction of environment, climate ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university, 6

What to criticize? Chaos - conservative – Capitalism produce constant renewal of social order – Ideal: stability, security, legitimate social hierarchy, family, community, religion Christendom and Islam Action – liberal – Moral criticism or lack of freedom – Ideals: responsibility, fairness, obligation, duty Adam Smith (political economy) Structures – socialist – Necessity of accumulation, growth – Interests rates – usury Marx (Critique of political economy) Dynamics – Instrumentalization of rationality (homo economicus) – Business becomes theft Weber, Durkheim, Mauss ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university,

What is critique? IIa Critique of political economy (A+B) – Exploitation of the surplus value – The decline of the rate of profit Hilferding, Bernstein Critique of ideology I (A+B) – The ruling thoughts are those of the rulers – Enlightenment and truth! – Critical theory of society Horkheimer, Adorno, Marcuse, Habermas ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university,

What is critique? IIb Critical rationalism (B) – Analysis of truth, science, knowledge vs. illusion and opinion – Popper Critique of ideology II (B+C) – Living spontaneity vs. burden of culture, rationalization – Artistic freedom and creativity – Against slave mentality and morality – Revaluation of value: generosity – Discourse analysis – Freud, Foucault, Luhmann ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university,

What is critique? III Social critique (A) – Injustice, inequality, misery, exploitation, – selfishness, individualism, lack of solidarity – Ideal: Justice, fairness, solidarity, Artistic critique (C) – Oppression (market domination, factory discipline) – Massification, standardization, pervasive commodification – Ideal: liberation, individual autonomy, singularity, authenticity, creativity Exit, protest – or weak criticism: Cynicism, wait-and-see? – 1968: revolution, reform or revision? – Critical sociology – sociology of criticism Critique adjusts and improves capitalism (Boltanski & Chiapello) – The spirit of capitalism develops First step: social criticism – security and fairness Second step: artistic criticism – fairness and stimulation ‘Critique of capitalism – reasons and varieties’ Asger Sørensen, Aarhus university, 10