| Summary/Abstract |
This article explores the ‘democratic socialism’ being proposed by new left movements on either side of the Atlantic, and evaluates its claim to be a form of anti‐ or postcapitalism. It argues that in the democratic socialist worldview, the line between capitalism and socialism rests on the balance of power between workers and capitalists in the economic sphere. While traditional social democracy seeks to redistribute wealth but leaves relations between workers and capitalists within firms untouched, democratic socialism seeks to abolish private property in the economic sphere. Production is controlled democratically by the workers themselves, in league with a workers’ state. The article critically appraises the claim that such a scenario constitutes a form of postcapitalism. Drawing on the work of critical Marxists such as Moishe Postone, it argues that capitalism is not primarily defined by private property relations in the economic sphere, but rather the peculiar social form of capitalist labour. Unlike in pre‐capitalist societies, for labour in capitalism to secure a continued basis on which to reproduce the means of subsistence, it must be socially validated as ‘value‐producing’. The criteria for value validation is not set in the workplace, or within a single nation state, but rather on the world market. The article concludes that, for all its merits, the democratisation of workplaces does not overcome the need for this social validation, but rather constitutes an alternative form of managing the process of production in this context. As such, democratic socialism, like social democracy, remains susceptible to the same imperatives and crises as other forms of capitalist production, and so cannot be said to constitute a form of ‘postcapitalism’.
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