IDEAS IN MOTION

"Omnivore: Why We Need to Expand Our Conception of Capitalism," in "Cannibal Capitalism" by Nancy Fraser


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The chapter under discussion here introduces the concept of "cannibal capitalism" as a critical theory to understand contemporary crises. It argues that traditional Marxist accounts of capitalism, focused on economic exploitation, are insufficient for grasping current multidimensional challenges. Instead, the author proposes expanding our understanding of capitalism to encompass its dependence on and simultaneous destruction of social reproduction, ecology, and political power. It contends that capitalism's defining features, like private property and free labour, rely on often unacknowledged background conditions, such as gendered labour divisions, nature's resources, and state support. Ultimately, the chapter suggests reconceptualising capitalism as an institutionalised societal order characterised by structural divisions that lead to inherent crises of "cannibalisation" as it consumes its own foundations. It suggests that struggles against capitalism should address these broader structural issues.

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IDEAS IN MOTIONBy Dr S A Hamed Hosseini