Assignment Question

The central aim of this course is to explore how structures of power, social politics and culture, condition and shape our daily lives and the construction of self and others. In the first part of the course (weeks 1 – 5), we focused on the economic and social power of free market capitalism. We examined a variety of thinkers and models with a view to evaluating ways in which free market capitalism (the relations of production and consumption) affect and condition the nature of work, our relations to others, distributive justice, ideology, and our lives more generally. Your first paper should address one of these aspects. I would expect that, minimally, you draw from at least 2 of the thinkers examined in this section of the course. Some obvious examples include: · contrasting Smith and Marx in their assessment of the market and its relation to labor and work (Locke and Satz are also relevant here). · critically evaluating neoliberalism and the argument for a deregulated market (here Friedman, Nozick and Rawls are central, although you could also draw from Locke and Satz) · examining and critically evaluating how Althusser goes beyond Marx in his contention that ideological apparatuses perpetuate the problems of capitalism (you can draw on both Marx and Althusser here). In other words, the point is to write an argumentative essay, wherein you: (i) State your thesis explicitly (‘My goal in this paper is to…’). (ii) Explicate the text (identifying, contrasting, and discussing the arguments made by the authors you are examining, and which relate to your thesis). (iii) Provide analysis (with a view to supporting your thesis) Make sure you reference all sources used. The paper should be double spaced, 5- 6 pages long.

Answer

Introduction

The central aim of this course is to delve into the intricate interplay between structures of power, social politics, and culture, and how they shape our daily lives while influencing the construction of self and others. As we navigate the complexities of the modern world, it becomes increasingly evident that the forces of power and ideology play a pivotal role in shaping not only our individual identities but also the broader societal landscape. In the initial part of the course (weeks 1 – 5), our journey led us to a profound examination of the economic and social power wielded by free market capitalism. During this period, we embarked on an intellectually stimulating journey that involved an in-depth exploration of various thinkers and models, each offering unique perspectives on the impact of free market capitalism on our lives. The objective was to assess how free market capitalism, with its intricate relations of production and consumption, permeates and conditions facets that are integral to our existence. These facets include the nature of labor, our relationships with others, the principles of distributive justice, the pervasive influence of ideology, and the overall framework within which we live and engage with the world.

The Influence of Free Market Capitalism on Labor

The concept of labor and work in the context of free market capitalism is a rich area of inquiry that has been thoroughly examined by influential thinkers, shedding light on the complex dynamics at play. Adam Smith, a staunch advocate of the free market, articulated his view in “An Inquiry into the Nature and Causes of the Wealth of Nations” (1776). Smith’s central argument revolved around the concept of the invisible hand, which posited that individuals, driven by self-interest in a free market, inadvertently contribute to the greater good of society as if guided by an unseen hand. In this perspective, labor is seen as a self-regulating force that leads to the efficient allocation of resources and wealth creation. Karl Marx offered a contrasting and critical perspective on labor within the capitalist framework. In his seminal work “Capital, Volume I” (1867), Marx argued that capitalism inherently alienates laborers from the products of their work. He contended that as workers produce goods, they become estranged from the fruits of their labor, which are owned and controlled by capitalists. This alienation, according to Marx, extends beyond physical products to the very essence of human creativity and expression. Capitalism, he asserted, perpetuates inequality by concentrating wealth and power in the hands of the few while the working class experiences exploitation.

Critically Evaluating Neoliberalism and Deregulated Markets

Neoliberalism, characterized by its advocacy for a deregulated market, has wielded considerable influence in contemporary capitalist thought and policy (Harvey, 2005). The works of prominent scholars such as Milton Friedman, Robert Nozick, and John Rawls offer contrasting perspectives on the merits and drawbacks of this approach, shedding light on the complexities of neoliberal ideology within the context of capitalism. Milton Friedman, a staunch advocate of minimal government intervention, championed the efficiency of free markets as the most effective mechanism for allocating resources and promoting economic growth (Friedman, 1962). In his view, government interference in market affairs often resulted in unintended consequences and inefficiencies, ultimately impeding economic progress. Friedman’s neoliberal stance resonated with those who believed in the primacy of individual choice and the market’s self-regulating capacity. On the other end of the spectrum, Robert Nozick’s libertarian philosophy emphasized the paramount importance of individual rights and the inherent injustice of wealth redistribution (Nozick, 1974). Nozick argued that any form of taxation or wealth redistribution amounted to a violation of individuals’ property rights, constituting a form of coercion. For Nozick, a just society should respect the autonomy of individuals, even if it led to significant wealth inequalities.

The Role of Ideological Apparatuses in Capitalism

Louis Althusser’s extension of Marx’s ideas introduces the concept of ideological apparatuses that perpetuate the issues of capitalism (Althusser, 1970). Althusser argues that these ideological apparatuses are essential components of the capitalist system, functioning to shape individuals’ perceptions and maintain the existing social order (Althusser, 1970). One significant aspect of Althusser’s theory is the role of education in sustaining capitalist ideology. According to him, educational institutions, such as schools and universities, serve as powerful ideological apparatuses by disseminating the dominant values, norms, and beliefs of capitalism (Althusser, 1970). Through the education system, individuals are socialized into accepting the prevailing capitalist framework, which includes the primacy of profit, competition, and individualism. Additionally, Althusser’s analysis extends to the media as another influential ideological apparatus. Media outlets, including television, newspapers, and digital platforms, play a crucial role in disseminating information and shaping public discourse (Althusser, 1970). In capitalist societies, media often serve the interests of the ruling class by framing issues, controlling narratives, and promoting consumerism and conformity. Althusser’s insights suggest that these ideological apparatuses not only reproduce the existing social and economic structures but also contribute to the legitimation of capitalism. By continually reinforcing capitalist values and ideologies, education and media apparatuses help maintain the status quo, making it challenging for individuals to critically question or challenge the system.

Conclusion

In conclusion, this essay has delved deeply into the multifaceted aspects of free market capitalism, with a particular focus on its impact on labor, deregulated markets, and the role of ideological apparatuses. The analysis has been enriched by the insights of various influential thinkers, including Adam Smith, Karl Marx, John Locke, Debra Satz, Milton Friedman, Robert Nozick, John Rawls, and Louis Althusser. These thinkers have provided invaluable perspectives on the complex interplay between capitalism and our daily lives. One key takeaway from this examination is the realization that capitalism’s influence extends far beyond economic relations. It profoundly shapes our ideologies, perceptions, and societal structures . The invisible hand of the market, as proposed by Adam Smith, highlights the intricate balance between self-interest and societal benefit . Conversely, Karl Marx’s critique of capitalism underscores the alienation of laborers and the perpetuation of inequality within this system . John Locke’s emphasis on property rights emphasizes the fundamental role of ownership and exchange within capitalism. Debra Satz’s insights into market ethics serve as a moral compass, urging us to consider the ethical dimensions of economic transactions .

References