Bad Romance | Boston Review

Capitalism twists our God-given love for neighbor and world into a force of estrangement, and it transforms our God-given desire to work into forms of exploitation.

McCarraher contends that this whole story is disastrously misguided; it keeps us from seeing how capitalism functions, and why it continues to exert so much appeal. Disenchantment, he argues, never happened. Our world is still soaked with meaning, just as it was in the Middle Ages. We are not abandoned to a universe of moral relativism and nihilism, because capitalism and its prophets have offered an astonishingly stable set of alternatives. “Capitalism,” McCarraher insists, “is a love story.” What he means is that the market translates the poetry of our desire into the prose of institutions and exchange. (And isn’t this the structure of any love story, or at least those ending in marriage?) Our world, in other words, is just as “enchanted” as the one of our medieval forebears: the human frame is such that it could not survive otherwise. Capitalism offers us community, faith, ritual, nature worship, and everything else that we imagine in the enchanted worldview of the past.

The trouble is that it is black magic. It twists our God-given love for neighbor and world into a force of estrangement, and it transforms our God-given desire to work into forms of exploitation. The problem with capitalism isn’t that it lacks values, but that it values the wrong things. If McCarraher is right, the salvation we seek will not come through technological breakthroughs or even the creation of new political coalitions. The first order of business, he thinks, is to learn how to love again, and to love better.

Source: Bad Romance | Boston Review

The Racist Dawn of Capitalism | Boston Review

“At the heart of Edward Baptist’s The Half Has Never Been Told is the claim that the profits and accumulations of slavery contributed to the formation of contemporary capitalism. Like Beckert, he turns to the history of the cotton industry, though he focuses on the United States from the colonial era to the end of the Civil War. Yet if Beckert’s story is the world the slave owners made, Baptist’s is the world made by the slave. “Enslaved African Americans built the modern United States,” he declares, “and indeed the entire modern world, in ways both obvious and hidden.” We know the claim that enslaved African Americans built the modern United States is not new. This “half” has, in fact, been told—multiple times and more often than not by black writers, some of whom are fleetingly mentioned in Baptist’s footnotes. But the claim that African Americans built the world is simply wrong. Baptist’s book is marked by such rhetorical excesses, which lend themselves to a blinkered and narcissistic American exceptionalism. The result is an oversimplified view of capitalism and slavery that ignores the historical contributions to modernity of Africans in the Caribbean and in Africa itself.”

Source: The Racist Dawn of Capitalism | Boston Review