IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/26807.html
   My bibliography  Save this paper

Investing In Civilization

Author

Listed:
  • Freeman, Alan

Abstract

This paper asks whether, and how, the state can solve the present crisis. The method of enquiry is to analyze what it did in the two comparable crises of 1893 and 1929. In each case, a prolonged and structural slowdown in the world economy was followed by financial crisis, a period of turmoil marked by strong and active state intervention, then a period of prolonged exceptional growth which can be considered, at least economically, a solution to a crisis. I draw two immediate conclusions. First, the state needs to intervene on a greater scale than previously (or currently) supposed. Second, its role cannot be conceptualized as purely economic. The sustained recoveries of past crises were the result of what I term civilisational change, facilitated by the state. It did not merely spend money, organize production, or offer credit but established far-reaching new cultural and social conditions that shaped the entire following epoch and with which we still live. The key therefore is to frame correctly the relation between the state’s economic role, and its political and social role. This in turn requires us to understand, and correctly state, those achievements of the present time which can and should be made universal – converted into general rights which, whilst not actually and practically generalized as a result of the inequalities introduced by expansive phases of social production, become defining of ‘being human’ – as were, for example, food, shelter, clothing, education, or literacy during previous prolonged expansions. Society has reached a stage of material sufficiency. Its produce, if distributed equally throughout the world, could provide the above for every citizen. The reason these benefits are not universal is therefore social and political, and no longer natural. At the same time society has reached a stage of cultural expansion in which the fastest expanding sources of demand and production, though confined to a minority, are to be found in the sphere of design, aesthetics, performance, and human self-expression and enjoyment. This last fact means that sustainable growth, centered on the enhancement and extension of the human spirit instead of the material depletion of the planet, is a real social and economic possibility for the first time in the history of modern civilization. Moral necessity and historic possibility coincide: what is lacking is the social and political will to achieve what is within our grasp. The task is therefore, first, to finish the unfinished business of the last phase of expansion, and provide a guaranteed level of material wellbeing below which no citizen of the world can fall, which implies ending once for all the gross inequalities characterizing the present crisis; but, second, to initiate a new process of growth in which the self-realization of human potential is set above all other goals. The defining universal human rights which the next phase of expansion must therefore aspire to are the right to create, the right to sustain, and the right to care. This was first published in February 2009 as a chapter of the book Bankruptcies and Bailouts, edited by Wayne Anthony and Julie Guard and published by Fernwood Press, Winnipeg, MB

Suggested Citation

  • Freeman, Alan, 2009. "Investing In Civilization," MPRA Paper 26807, University Library of Munich, Germany, revised 15 Feb 2009.
  • Handle: RePEc:pra:mprapa:26807
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/26807/1/MPRA_paper_26807.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Alan Freeman & Andrew Kliman & Julian Wells (ed.), 2004. "The New Value Controversy and the Foundations of Economics," Books, Edward Elgar Publishing, number 2274, April.
    2. Gillies Dostaler, 2007. "Keynes and his Battles," Books, Edward Elgar Publishing, number 1404, April.
    3. Freeman, Alan & Desai, Radhika, 2009. "How Bad is US Unemployment?," MPRA Paper 13740, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:eme:rpeczz:s0161-7230(2011)0000027013 is not listed on IDEAS
    2. Freeman, Alan & Desai, Radhika, 2009. "How Bad is US Unemployment?," MPRA Paper 13740, University Library of Munich, Germany.
    3. Alan Freeman, 2010. "Crisis and “law of motion” in economics: a critique of positivist Marxism," Research in Political Economy,in: The National Question and the Question of Crisis, volume 26, pages 211-250 Emerald Publishing Ltd.
    4. Alan Freeman, 2011. "Crisis, Marxism, and Economic Laws: A Response to Gary Mongiovi," Research in Political Economy,in: Revitalizing Marxist Theory for Today's Capitalism, volume 27, pages 285-296 Emerald Publishing Ltd.

    More about this item

    Keywords

    Crisis; Development; Growth; Inequality; State; Culture; Environment; Technology; Creativity; Long Waves;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • N0 - Economic History - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:26807. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter) or (Rebekah McClure). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.