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13921
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All things must have an essence (a 'what it is'), or we would be unable to think about them [Lowe]
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Full Idea:
Things must have an essence, in the sense of 'what it is to be the individual of that kind', or it would make no sense to say we can talk or think comprehendingly about things at all. If we don't know what it is, how can we think about it?
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From:
E.J. Lowe (Two Notions of Being: Entity and Essence [2008], 2)
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A reaction:
Lowe presents this as a sort of Master Argument for essences. I think he is working with the wrong notion of essence. All he means is that things must have identities to be objects of thought. Why equate identity with essence, and waste a good concept?
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24071
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Markets are transparent, with known prices and activity, and minimal profits [Davies,W]
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Full Idea:
Markets are characterised by transparency. Prices are public, and all relevant activity is visible to everyone. And because of competition, profits are minimal, little more than a 'wage' for the seller.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
This account, from Braudel, is to distinguish markets from capitalism.
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24073
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Capitalists use their exceptional power to impose their own rules, and make the state their ally [Davies,W]
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Full Idea:
Capitalists exploit their unrivalled control over time and space in order to impose their rules on everyone else. …It triumphed late, only becoming dominant in the 19th century, when it had conscripted the state as its ally.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
This so very much makes sense of the modern world. Nowadays capitalists are so wealthy that the state has largely become their pawn, rather than their ally. Populist leaders are their puppets (and are well rewarded).
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24070
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Economies have material, economic and capitalist layers [Davies,W]
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Full Idea:
Braudel's economic history has three layers. At the bottom is material life of consumption, production, reproduction. Next is economic life of markets, of equals in exchange and competition. Top is capitalism, of opacity, monopoly, power, high profits.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
The point Davies emphasises here is the sharp distinction between the market economy and capitalism.
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24074
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Capitalism must mainly rely either on the labour market, or on the financial markets [Davies,W]
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Full Idea:
According to Marxists, the one market capitalism cannot do without is the labour market, which creates saleable things. Others, influenced by Keynes, emphasise financial markets, where pieces of paper change hands on expectation of their value.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
Modern Britain fits the Keynesian account much better, given its low production, and very active (until recently) London financial market.
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24072
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Capitalism is the anti-market, with opacity, monopolies, powers, exceptional profits and wealth [Davies,W]
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Full Idea:
Braudel sees capitalism as the 'anti-market': a world of opacity, monopoly, concentration of power and wealth, and the exceptional profits that can be achieved only by escaping the norms of 'economic life'.
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From:
William Davies (Review of 'The Price is Wrong' by B.Christophers [2024], 24-04-04)
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A reaction:
Given all the talk about the wonders of the 'free market' from right-wingers, this passage came as a revelation to me. Capitalists all dream of a monopoly, which is precisely the destruction of a market.
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