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Cannibal Capitalism: How our System is Devouring Democracy, Care, and the Planet – and What We Can Do About It

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It looks past the traditional class struggle argument and takes Black Marxism, decolonial perspectives, and feminist and gender theory into consideration, combining them all to create a complete analysis of our current predatory system. Omnivore’ sets the analytical scene by arguing that understanding capitalism as an economic system based on the extraction and accumulation of profit is itself part of its ideological underpinning, which externalises (that is, erases) the vast nexus of resources on which it both depends, and yet destroys.

At one level, Fraser’s message is that various left movements have more basis for common cause than they sometimes think. These origins might also explain, to my ears, the occasional clash between Fraser’s profoundly serious intent and compassionate vision, set out in demanding arguments, and the popular tone as if to leaven the text: ‘Capitalism is back! growth of [ Democratic Socialists of America] , the uptake that [Bernie] Sanders got in his two presidential campaigns.and promising developments on the left like the rise of Jacobin magazine and the whole media ecosystem around it. These crisis points all come to a head in Covid-19, which Fraser argues can help us envision the resistance we need to end the feeding frenzy. Fraser tells parallel stories for the other three divisions (exploitation/expropriation, society/nature, and economy/polity) across the four historical phases of mercantile capitalism, nineteenth-century liberal-colonial capitalism, postwar state-managed capitalism, and neoliberal financialized capitalism.

From the Spanish Conquest of Latin America from the 15th century, the genocide and enslavement of its indigenous peoples, and the expropriation and extraction of its natural resources (the silver extracted from mines in Potosí in present-day Bolivia could have paved an 8,000 km bridge to Madrid), and similar processes taking place across the world, culminating in the abhorrent enslavement of some 12. Every historical iteration is punctuated by outbreaks of crisis and conflict, as all turn out to be ridden with tension and contradiction.indeed, in the post-war period, the UK government invited British subjects from Commonwealth countries to work in public transport and in the new National Health Service (NHS), with little care for the widespread racism they would encounter then, and still do now. Using the classical Marxian conception of the capitalist economy as a foil, Fraser argues that the economy and the various features we associate with it, including markets, capital accumulation, worker exploitation, and class conflict, are but the ‘front-story’ of capitalism. There is no anti-capitalist class struggle without co-equal struggles for racial, gender, ecological, and democratic justice, and no struggle for racial, gender, ecological, and democratic justice can afford to ignore the root culpability of capitalism. In disavowing responsibility, capitalism invites the destabilization of these latter spheres and, in doing so, jeopardizes essential facets of society and life on which it itself is dependent. In reality, though, the main decisions are made not by individual states, but by the international financial institutions and central or regional banks, which make ‘many of the most consequential rules that govern the central relations of capitalist society’, in particular ‘financialized capitalism’.

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