Capitalism After Postmodernism: Neo-Conservatism, Legitimacy by Hugh T. Wilson

By Hugh T. Wilson

This quantity addresses a few interrelated concerns within the previous and new political economic climate. the focal point on globalization is mostly taking the brain off questions of debt and indebtedness. Capital now has any such made up our minds institutional area that its legitimacy in capitalist democracies is below risk. current advancements heavily jeopardise the stability among capital, public and social associations on which the development and welfare of the constructing global and the capitalist democracies count. Going again to Marx, Weber and Habermas, H.T. Wilson concludes that opposed to the backdrop of Weberian pessimism, social intellectuals nonetheless need to upward thrust to the get together, instead of helping within the gigantic, and therefore, self-confirming prophecy that modern postmodernism now threatens to develop into.

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Capitalism After Postmodernism: Neo-Conservatism, Legitimacy and the Theory of Public Capital (International Comparative Social Studies)

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18 Beacon Press, 1973), to 'Technology' and Science as Ideology', in Habermas, Toward a Rational Society (London: Heinemann, 1971), pp. 81-122. 17 Weber, Economy and Society, Volume II, chapter XI, pp. 963-965, 969-975, 980-985, 987-994, 998-1005. , Volume I, Part 1, chapter IA 1-10, pp. 3-19. 32 CHAPTER THREE In the event, ideal type conceptions of forms of authority and bases of legitimacy would have to be unreal not only because they were formally 'pure' and functioned as a vehicle for comparing the social, economic, political, legal or cultural reality to which they were addressed.

21 This is part and parcel of the very meritocratic concept of 'rational domination' that Weber disputed while being caught up in it as a central prop of the ideology of modernity in all of the latter's many institutional guises. Rational domination expresses the central assumption of meritocracy and technocracy itself. 22 Weber's point, addressed by Habermas, is that the criteria for assessing this vaunted superiority, far from being objective and impersonal, are produced, sustained and even legitimized by the very institutions and activities for which they are supposed to constitute objective and impersonal indicators.

1 We need to be a great deal more self-conscious about the meaning we intend when we make reference to legitimacy and legitimation as concepts. 2 Whereas in the first chapter legitimacy as a concept was bounced off capitalism as the more holistically concrete point of reference, here capitalism will be bounced off legitimacy as the more concrete concept. The purpose is to develop in a more concerted manner the theory of public capital and its relation to both the process and the forms of co-optation and Marx's labor theory of value.

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