Paper $25.00 ISBN: 9780745337531 Published March 2018 For Sale in All Americas and the Caribbean except Canada
Cloth $99.00 ISBN: 9780745337548 Published March 2018 For Sale in All Americas and the Caribbean except Canada

Managerial Capitalism

Ownership, Management, and the Coming New Mode of Production

Gerard Duménil and Dominique Lévy

Managerial Capitalism

Gerard Duménil and Dominique Lévy

Distributed for Pluto Press

224 pages | 23 figures | 5 1/4 x 8 1/2 | © 2018
Paper $25.00 ISBN: 9780745337531 Published March 2018 For Sale in All Americas and the Caribbean except Canada
Cloth $99.00 ISBN: 9780745337548 Published March 2018 For Sale in All Americas and the Caribbean except Canada
Marxist analysis has traditionally been built on a two-class framework: workers and capitalists. With Managerial Capitalism, Gerard Duménil and Dominique Lévy mount a powerful argument that such a framework is outdated—we are in fact amid a transition to a new mode of production, one that is fundamentally shaped by a third, intermediary class: managerialism.
            Drawing examples from the United States and Europe, the authors offer a historically rooted interpretation of major current economic and political trends. Without eschewing Marx’s theory of history and political economy, they update it to take account of the changes underway in class patterns and relationships to production. The result is a robust new Marxism for the present and the future.
Contents
List of Figures
List of Tables
 
Introduction
 
1. An overview
 
PART I: MODES OF PRODUCTION AND CLASSES
2. Patterns of income distribution
Two laws of income distribution
Wages and capital income
Managers within income hierarchies
Appendix to Chapter 2: The methodology used in the construction of Figure 2.1
 
3. Marx’s theory of history
A materialist interpretation of history
Modes of production: The channels of exploitation
Economics and economicism
Classes and income distribution
Class struggle as an “objective” component of historical dynamics
 
4. Managers in Marx’s analysis
The capitalist as owner and manager
Salaried workers as profit-rate maximizers
Bureaucracies
Stretching explanatory powers
 
5. Sociality and class societies
“Sociality”: Governing the workshop
The socialization of production: Capitalists and managers
The state at the intersect between the theories of sociality and class societies
And the emancipation from class dominations
A dual theory of human societies
Appendix to Chapter 5: States and bureaucracies in The Eighteenth Brumaire. The viewpoint of Franςois Furet
 
6. Managerialism and managerial capitalism
Managerialism as mode of production-socialization
Managerial capitalism
The entrance into managerial capitalism I: The revolution in private management
The entrance into managerial capitalism II: The revolution in government
 
7. A wealth of alternative interpretations
“Streamlining” class analysis: The three classes of managerial capitalism
To the limits of Marx’s framework and beyond
Beyond capitalism: Schumpeter, Burnham, and Galbraith
Sociologies and historical philosophies
 
8. Hybridization as analytical challenge
From feudalism to the genesis of capitalist relations of production: The French Ancien Régime
An English “Ancien Régime”
Marx and the economics of emerging capitalist relations
The genesis of a class contradiction: Bourgeois and proletarians
 
PART II: TWELVE DECADES OF MANAGERIAL CAPITALISM
9. Varying trends of inequality
Inequality: Total income
Inequality: Wages
Inequality: Wealth
Levels of inequality
Summing up
 
10. The sequence of social orders
The first financial hegemony up to the Great Depression
The post-depression/postwar compromise
From the mid-1970s onward: The second financial hegemony in neoliberalism
The heydays and decline of Galbraith’s and Chandler’s analyses
Treating the crisis—Preserving the social order. A fourth social order after 2008?
The state; Social orders to the right and left
Appendix to Chapter 10 (1): Managerial capitalism and social orders in Europe
Appendix to Chapter 10 (2): Michel Foucault’s notion of “governmenteal rationality”—Its application to (neo)liberalism
 
11. Class and imperial power structures
Ownership and control
Anglo-Saxon hegemony
The interface between ownership-control and management
Managerial national and transnational elites
Upper classes of all countries unite under an imperial banner!
Relations of production and international hegemony
 
12. The politics of social change
Economic and political governing cores
Flipping between right and left?
Social orders and administrations in basic economic variables
Cooperation and strife between the two governing cores
Economic theory in the political turmoil
 
13. Tendencies, crises, and struggles
Two brands of structural crises
Profitability trends
Managers and technical change
Revolutionary and routine trajectories
Paving the way to the second social order and the turn to neoliberalism
Determinism and political contingency
 
PART III: PAST ATTEMPTS AT THE INFLECTION OF HISTORICAL DYNAMICS
14. Utopian capitalism in bourgeois revolutions
The French Revolution beyond the bourgeoisie
A brief comparison with seventeenth-century England
The social foundations of the “counter-revolution”
Epilogue
“Capitalist modernity”
 
15. Utopian socialism and anarchism
Utopian capitalism: The tension between democracy and authoritarianism
Doing without central authority: Anarchist communism
At the root of the implacable character of historical dynamics
Appendix to Chapter 15: Utopian socialists
 
16. Self-proclaimed scientific socialism
The alliance for revolution
Bureaucratic managerialism
The managerial organization of production
The failure of reforms
Self-management
Brief remarks regarding China
Joining the ranks of managerial capitalist countries
 
PART IV: PROSPECTS FOR HUMAN EMANCIPATION WITHIN AND BEYOND MANAGERIALISMS
17. The economics and politics of managerialisms
Trajectories and outcomes
Degrees and forms of socialization
Less capitalism—More managerialism
Subduing capitalist classes—Helping towards their reconversion
Hierarchies
A managerialism bent to the left?
 
18. The potential of popular struggle
The historical dynamics of emancipation and regression I: Capitalist modernity
The historical dynamics of emancipation and regression II: Managerial modernity
The class foundations of revolutions and counter-revolutions
Bifurcating
An incoming structural crisis?
Intraclass cohesiveness: A pending political crisis of neoliberalism?
A utopia for the twenty-first century?
 
Notes
Index
 
Review Quotes
Duncan Foley
“Every serious student of political economy will want to read Gérard Dumenil and Dominique Lévy’s masterful synthesis of Marxist method, contemporary Econo-physics, and their own theoretical and empirical work on the emergence of neoliberal managerial forms of capitalism on a global scale.”
 
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