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The (confusing) role of capital in speculative capitalism—U.S.- style

By Jim SAWYER

Abstract

Tightly connected to the U.S.-spawned global financial crisis of autumn, 2008, this paper considers the underlying doctrinal roots of speculative capitalism, including roots in the neoclassical profit lacuna. It examines recent precipitating events and proposes crucial changes to both doctrine and method in the social sciences. Among essential proposals is the policy prescription that government oversight will not change “pseudo-capitalist” outcomes, unless articulated tightly with what here is called “vision,” and which Michael Porter calls “strategy.”role of capital, speculative capitalism, U.S. style

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