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This book argues that in recent decades an unrestrained vampire-capitalism has emerged, disengaged from the needs of citizens and workers, leading to a deepening of social class, generational, gender, educational and ethnic divisions. The author explores how our cultural obsession with self-realization undermines our capacity for collective action and ability to confront threats such as climate change and the impact of the rapid advance of technology on labour. Drawing on sociology and political economy as well as worldwide case studies, the chapters interrogate how we arrived at these dilemmas and how we might escape them through establishing alternative social economies. Vampire Capitalismwill be of interest to students and scholars across a range of disciplines, including sociology, social theory, globalisation studies, development studies, political economy, geography, politics and social policy. Paul Kennedy is Visiting Research Fellow at Manchester Metropolitan University, UK. He has taught and written widely on African and Third World studies, comparative modernization, green businesses, globalization and cosmopolitan professionals. He is the co-author of Global Sociology(Palgrave Macmillan) and took a leading role in founding the Global Studies Association.
Dedication; Acknowledgements; Contents; List of Acronyms; 1: Introduction: Capitalist Modernity in Question; 1.1 The Partnership of Capitalism and Modernity; 1.2 Counter-arguments: The Miracle of Capitalist Modernity; Continuous Adaptation and Creativity; Survival in the Face of Multiple Crises; The Development of the Productive Forces and Material Advance; 1.3 Thinking the Unthinkable: The End Game for Capitalist Modernity?; 1.4 In Recent Decades a Vampire form has Largely Disengaged Capitalism from Society ; The Current 'Model' of Economic Practice Stifles Economic Growth -- Feeding the Wages-Productivity Gap Through Finance The Transnational Capitalist Class-The Global Plutocrats; 2.4 Tax Matters; Going Backwards: Abolishing Progressive Tax Systems; Too Big to Pay; 2.5 Rent-Seeking Practices; Crony Capitalism, the US Government and the Financial Crisis; Privatization and Rent-Seeking in the Global South; 2.6 Summary and Conclusions; Bibliography; 3: The Roots of Vampire Capitalism; 3.1 Holding Capitalism to Account-Mid-Twentieth-Century Events; 3.2 Neoliberalism and the Era of Unaccountable Capitalism -- Relentless Technological-Scientific 'Advance' Threaten a Jobless Future Individualization and Lifestyle Cultures Dissolve Social Coherence and Collective Action; Our Plunder of the Earth's Bio-Sphere Leaves a Legacy of Dangerous Environmental Risk; 1.5 Thinking About Alternative Futures; Bibliography; 2: The Rise of Vampire Capitalism (and not a slayer in sight); 2.1 Generic Capitalism; 2.2 The Shareholder Economy; Changing Shareholder Demands Since the 1980s; Short-Termism and the Losers; 2.3 The Gap Between Wages and Productivity; Siphoning New Wealth into Few Pockets -- The Crises of the 1970s and the Neoliberal Moment The Neoliberal Argument; A Trio of Core Neoliberal Presumptions; Critical Reflections on Neoliberal Ideology; 3.3 Financialization; The Politics of Financial Liberalization and Offshore Banking; The Financial Crisis of 2008-2009 and Beyond; 3.4 Globalization: Uniting But Also Fracturing Humanity; Globalizing Processes Since the 1960s; 3.5 Summary and Conclusions; Bibliography; 4: Living with Twenty-First-Century Capitalism; 4.1 Neoliberal Economics: The Downward Spiral; Wage Stagnation; The Dangers of Growing Inequality -- Tax-The Forbidden Path to Raising Revenue Debt as a Way of Life (and the remaining driver of global growth?); The Failure to Re-regulate Finance; 4.2 Privatization, the Shrinking State and the Occluded Society; 4.3 The Twin Treadmills: Perpetual Competition and Economic Growth; 4.4 Summary and Conclusions; Bibliography; 5: The Juggernaut of Science and Technology: Friend or Foe?; 5.1 Technology and the Future of Employment; Technology Until the 1970s: A Respite for Employment; Technological Change and the New Economy: Jobs Under Threat; 5.2 Towards a Digitalized and Jobless Future?
