The Future of Capital and Its Alternatives in 21st Century: The Essentiality of Economic Democratization
Seyed A. HOSSEINI FARADONBEH, The University of Newcastle, Australia and Barry GILLS, University of Helsinki, Finland Abstract Text: In 21st century, “Capital” requires a more comprehensive and applicable definition than merely a social process where money makes more money through production relations. Capital, in its material manifestation, is a socially organized ‘process’, through which surplus value is produced and controlled by 'unsustainable' and 'un-sovereign' ways of exploiting labour (both manual and intellectual), land (and other commons), nature (non-renewable sources of energy and the earth's bio-capacity including the climate). It is, however, important to equally emphasize, and theorize how Capital can also immaterially but objectively colonize and depoliticize societal/communal solidarities (from the level of household, to the level of world community).Thus, a critical analysis of Capital/ist relations requires the theorization of not only…