Consumerism is a popular category of analysis, but what exactly does it mean? How is consumerism or the consumer society different from anything else? Haven’t every economies had producers and consumers? In his The Romantic Ethic and the Spirit of Modern Consumerism , Colin Campbell offers . . . . Continue Reading »
Sennett again: “The number of men aged fifty-five to sixty-four at work in the United States has dropped from nearly 80 percent in 1970 to 65 percent in 1990.” Trends are similar in Western Europe. Older workers are often downsized, perceived as inflexible deadwood, too critical of . . . . Continue Reading »
To return to one of my recent obsessions: The flexible economy described by Sennett seems inimical to the cultivation of gratitude, one of the key components or grounds of loyalty. Employers have various sorts of incentives (stock prices, meeting market demands with flexible specializations) to . . . . Continue Reading »
Sennett claims that the apparent decentralization of power in flexible organizations is only apparent. In fact, power remains concentrated in the hands of top level managers, often enhanced by the surveillance capabilities of contemporary technologies. The actual practice of flextime illustrates . . . . Continue Reading »
Sennett summarizes a study from the early 1990s done by the American Management Association, which found that “repeated downsizings produce ‘lower profits and declining worker productivity.’” The study found “less than half the companies achieved their experience . . . . Continue Reading »
As Richard Sennett points out in his stimulating book, The Corrosion of Character , Marx was not the first to suggest that the factory system was dehumanizing and alienating. Nor was Daniel Bell first to spot the effects of capitalism on values and moral character. Sennett argues that Adam . . . . Continue Reading »
Georg Simmel wrote, “Money, with all its colorlessness and indifference, becomes the common denominator of all values; irreparably it hollows out the core of things, their individuality, their specific value, and their incomparability. All things float with equal specific gravity in the . . . . Continue Reading »
George Gilder suggests in Telecosm that economists study scarcity rather than abundance because the former is measurable, and the latter approaches infinity (and hence zero price): “The economists’ focus on scarcity stems from the fact that shortages are measurable and end at zero. They . . . . Continue Reading »
Francis Fukuyama reviews Bruce Caldwell ‘s new biography of Hayek in the Spring 2004 issue of The Wilson Quarterly . According to Caldwell, Hayek’s argument against a managed economy was basically an epistemological one: “There are limits to rationality, and what any individual . . . . Continue Reading »
Deepak Lal holds the James S. Coleman Professorship of International Development Studies at UCLA, and has produced a fascinating cross-disciplinary and cross-cultural study of the relation of culture and development, Unintended Consequences (Oxford, 1998). Many of his arguments are unpersuasive, . . . . Continue Reading »
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