PostCapitalism audiobook cover - A Guide to Our Future

PostCapitalism

A Guide to Our Future

Paul Mason

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Technology & the FutureEconomics

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PostCapitalism
Failure of Neoliberal Capitalism+
Limits of Capitalist Cycles+
Information Technology Revolution+
Global Crises Accelerating Change+
Transition to PostCapitalism+

Quiz — Test Your Understanding

Question 1 of 8
Why do information goods like MP3s and ebooks create tension within a traditional capitalist economy?
  • A. They require highly expensive and scarce raw materials to produce.
  • B. They can be copied and shared at almost no cost, undermining the concept of scarcity.
  • C. They are heavily regulated by international trade laws that limit their distribution.
  • D. They rely too heavily on fiat currency for global transactions.
Question 2 of 8
According to the text, what is 'financialization'?
  • A. The process of backing a state's currency with gold or silver reserves.
  • B. The global transition from physical bank branches to digital banking networks.
  • C. The process by which stagnant incomes in the workforce are compensated with credit given by banks.
  • D. The state's practice of printing fiat money to counter severe economic crises.
Question 3 of 8
How did global imbalances contribute to the downfall of neoliberalism?
  • A. They forced deficit countries to import more than they export, leading them into unsustainable debt.
  • B. They caused a massive surplus of information goods in developing nations.
  • C. They led to the overproduction of physical goods in Western Europe.
  • D. They allowed surplus countries to completely avoid the effects of the 2008 financial crisis.
Question 4 of 8
What did economist Nikolai Kondratieff propose about the nature of capitalism?
  • A. It inevitably reaches a final, unrecoverable crisis that ends the system.
  • B. It adapts and changes in historical waves or cycles of roughly 50 years.
  • C. It transitions smoothly into feudalism during periods of technological stagnation.
  • D. It is entirely dependent on the continuous expansion of fiat money to survive.
Question 5 of 8
According to the text, where did Karl Marx's theories fall short regarding the end of capitalism?
  • A. He failed to anticipate the invention and widespread use of fiat money.
  • B. He incorrectly believed that information goods would have absolutely no value.
  • C. He overestimated the working class (proletariat) as the sole force that could overthrow capitalism.
  • D. He did not understand the basic principles of supply and demand in a free market.
Question 6 of 8
The predicted transition from capitalism to postcapitalism is compared to which historical shift?
  • A. The fall of the Roman Empire and the rise of the Dark Ages.
  • B. The lengthy and complex transition from feudalism to capitalism.
  • C. The rapid societal changes during the Industrial Revolution of the 19th century.
  • D. The global transition from the gold standard to fiat currency.
Question 7 of 8
Which of the following is suggested as a deliberate step the state could take to move toward a postcapitalist economy?
  • A. Privatizing public services like health, education, and transportation.
  • B. Providing an unconditional basic income to all citizens of working age.
  • C. Increasing the money supply by printing more fiat currency during crises.
  • D. Encouraging monopolies to streamline global production and lower costs.
Question 8 of 8
Which four main factors are identified as the primary reasons for neoliberalism's failure?
  • A. Fiat money, financialization, global imbalances in trade, and the information-technology revolution.
  • B. Climate change, aging populations, fiat money, and the abandonment of the gold standard.
  • C. The labor theory of value, the knowledge economy, privatization, and corporate monopolies.
  • D. Overproduction of goods, the Arab oil embargo, high taxes, and the 2008 stock market crash.

PostCapitalism — Full Chapter Overview

PostCapitalism Summary & Overview

Postcapitalism (2015) offers a close examination of the failures of current economic systems. The 2008 financial crisis showed us that neoliberal capitalism is falling apart, and these blinks outline the reasons why we’re at the start of capitalism’s downfall, while giving an idea of what our transition into postcapitalism will be like.

Who Should Listen to PostCapitalism?

  • Capitalists and anti-capitalists
  • Students of sociology or politics
  • Anyone interested in what the future holds for modern-day societies

About the Author: Paul Mason

Paul Mason is the economics editor of Channel 4 News. His other books include Meltdown: The End of the Age of Greed and Why It’s Kicking Off Everywhere: The New Global Revolutions. He also writes for news outlets including The Guardian and The New Statesman.

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