May 3, 2012
"Computers have opened up certain spaces of freedom, as we’re constantly reminded, but instead of leading to the workless utopia Abbie Hoffman imagined, they have been employed in such a way as to produce the opposite effect. They have enabled a financialization of capital that has driven workers desperately into debt, and, at the same time, have provided the means by which employers have created “flexible” work regimes that have both destroyed traditional job security and increased working hours for almost everyone. Along with the export of factory jobs, the new work regime has routed the union movement and destroyed any possibility of effective working class politics.
Meanwhile, despite unprecedented investment in research on medicine and life services, we await cures for cancer and the common cold, and the most dramatic medical breakthroughs we have seen have taken the form of drugs such as Prozac, Zoloft, and Ritalin—tailor made to ensure that the new work demands don’t drive us completely, dysfunctionally crazy.
With results like these, what will the epitaph for neoliberalism look like? I think historians will conclude it was a form of capitalism that systematically prioritized political imperatives over economic ones. Given the choice between a course of action that would make capitalism seem the only possible economic system, and one that would transform capitalism into a viable, long-term economic system, neoliberalism chose the former every time. There is every reason to believe that destroying job security while increasing working hours does not create a more productive (let alone more innovative or loyal) workforce. Probably, in economic terms, the result is negative—an impression confirmed by lower growth rates in just about all parts of the world in the eighties and nineties.
But the neoliberal choice has been effective in depoliticizing labor and overdetermining the future. Economically, the growth of armies, police, and private security services amounts to dead weight. It’s possible, in fact, that the very dead weight of the apparatus created to ensure the ideological victory of capitalism will sink it. But it’s also easy to see how choking off any sense of an inevitable, redemptive future that could be different from our world is a crucial part of the neoliberal project."

— David Graeber, “Of Flying Cars And The Declining Rate Of Profit,” The Baffler no. 19. (Essay is not online—I transcribed this section from my print copy of the issue.)

  1. transascendant reblogged this from andrewtsks
  2. jrichmanesq said: "he most dramatic medical breakthroughs we have seen have taken the form of drugs such as Prozac, Zoloft, and Ritalin" really now?
  3. nickminichino reblogged this from andrewtsks
  4. andrewtsks posted this