The Invisible Handcuffs of Capitalism reviewed on Counterfire
That capitalism is not a rewarding or healthy system for the vast majority of workers may not come as news to most of us, but as Perelman points out in this interesting book, such understanding has never been part of mainstream economics. Following Adam Smith, capitalist economics has concentrated on transactions – the operation of the market – to the exclusion of production, and therefore of the conditions under which production happens. The result, Perelman argues, is not just appalling conditions for workers but, in capitalist terms an even worse consequence, the diminution of profits. | more…