Abstract

The purpose of this special issue is to examine possible futures of capitalism and their relationship to the economic, environmental and social futures of humankind. Capitalism is a system that legitimizes the pursuit of economic growth through the reinvestment of surplus. In this respect private ownership of capital is legitimate and often lies in separate hands from those who control the means of producing wealth. It could be argued that both wage earners and capitalists are in a precarious position: the former because they lack ownership of the fruits of their labor, and the latter, because the accumulation process in which they participate is prone to crises and disruptions, making their position also perilous. Arguably, societies have managed the relationship between this system of economic value creation and other systems necessary for human survival and development through various forms of governance. As recent events have reminded us, capitalist systems can go wrong. Even when capitalism works as expected, the externalities can be disastrous, such as the effects of unregulated speculation on world food prices.