New Studies Identify Sub-species of the Bourgeoisie

Picture: David Shankbone (CC)

Anti-capitalist agitprop has always lagged behind in producing the raw empirical support for the range of macro-economic theories deployed to oppose mainstream capitalist economics. As such, it often exhibits some of the same weaknesses inherent in freshwater capitalist macroeconomics. This may be because of the idealism and preferred style of argument inherited by the 19th Century First International cohort from their cultural surroundings. However, this traditional weakness is starting to be broken down. Some of the empirical work on the sociology of class, capital and power is now starting to emerge in popular form from the niche, highly specialized academic and policy journals that previously were the only places this sort of data was ever published.

As an example, one new research program has set out to assign names and faces to the abstract notion of the transnational capitalist class. Project Censored reports:

[W]e ask: Who are the the world’s 1 percent power elite? And to what extent do they operate in unison for their own private gains over benefits for the 99 percent? We will examine a sample of the 1 percent: the extractor sector, whose companies are on the ground extracting material from the global commons, and using low-cost labor to amass wealth. These companies include oil, gas, and various mineral extraction organizations, whereby the value of the material removed far exceeds the actual cost of removal.

We will also examine the investment sector of the global 1 percent: companies whose primary activity is the amassing and reinvesting of capital. This sector includes global central banks, major investment money management firms, and other companies whose primary efforts are the concentration and expansion of money, such as insurance companies.

Finally, we analyze how global networks of centralized power—the elite 1 percent, their companies, and various governments in their service—plan, manipulate, and enforce policies that benefit their continued concentration of wealth and power.

Read their full empirical results here.

J.F. Quackenbush

JF Quackenbush is a poet and lawyer who lives in the desert of the real.
  • Yourmom

    they are called dipshi*t hipsters