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Flawed dialogue on the definition of capitalism
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Capitalism: A Conversation in Critical Theory
by Nancy Fraser and Rahel Jaeggi
(Polity, £17.99)
OVERLY abstract and with few historical illustrations of its generalisations, Nancy Fraser and Rahel Jaeggi nevertheless raise points of interest as they debate the definition of capitalism.
Taking a page or so in turn, they accept the basic Marxist assumptions of private ownership of the means of production, a free labour market and capital accumulation premised on the expansion of capital, with the system geared towards making profit instead of satisfying needs.
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