What is progressive capitalism?
The elevation of novelty in our economic system makes it inherently progressive
I’ve been running late in delivering my second book, for various reasons. However in the last few days I’ve completed the last full chapter I needed to do, so the date of delivery is not far off – though publication is now likely in early 2024 rather than late 2023.
The title of this last chapter I’ve completed is ‘Progressive capitalism’.
I guess it probably conjures up images of corporations bending the knee to Black Lives Matter and changing their logos to whatever the latest LGBT+ flag is for Pride Month.
While there is a bit of that, the focus of the chapter is in fact much wider.
For, as far as I can see it, capitalism is inherently progressive. The nature of capital accumulation and investment is that it leads to growth, expansion, more and better stuff, which is at least a form of progress. The generation of wealth in this way is not to be sniffed at, albeit I recoil at the idea that this is an absolute form of progress: that it inevitably, always improves things generally.
I think looking at the United States as the most capitalistic country in the world today, helps to show up the positives and negatives of this system and how they are both inherently related to its progressive character.