1. Slashing the Financialization: a Return to a Real Economy
Jussi Ahokas
ESF - Malmö

2. Content of the Presentation
Framework
The aim: ”Worker’s economy”
Dismantling the rentier capitalism
Some perspectives on post-neoliberal world

3. Framework Capitalism and class struggle Economic class system:
Worker class
Capitalist class
Industrial capitalist
Rentiers
Neoliberalism as rentier capitalism

4. The aim: ”Worker’s economy”
An economy that functions on terms of the worker class
Full utilization of economic capacity  full employment  increasing equality and welfare

5. Dismantling the rentier capitalism (1)
Diminishing the social power of rentier class
Abolishing economic mechanisms that support rentier class
Creating economic mechanisms that enlarge the power of worker class

6. Dismantling the rentier capitalism (2)
Dominating mechanisms in the rentier capitalism:
Over liquidity
Speculation
Free movement of capital

7. Dismantling the rentier capitalism (3)
Reforming the financial and capital markets:
Global taxation on speculative capital movements
Global capital controls and regulations
Global taxation on all capital

8. Some perspectives on post-neoliberal world (1)
Back to the real economy
Economic mechanisms
Global taxation
Global demand management
Public investment and production

9. Some perspectives on post-neoliberal world (2)
The struggle between industrial capitalist class and worker class
New ”Golden Era”
Further diminishing significance of private capital
Welfare state

10. Some perspectives on post-neoliberal world (3)
“…any government which had both the power and the will to remedy the major defects of the capitalist system would have the will and the power to abolish it altogether”
- Joan Robinson (1936)