Theory of Alternatives to Capitalism: the Theory of Historical Trajectory

In this chapter we will explore the logic of two broad strategies for constructing the foundations of a theory of emancipatory social alternatives. The first is the theory elaborated first by Karl Marx, historically by far the most important approach to this problem. Even though Marxist perspectives on social change have lost favor among critics of capitalism, the Marxist tradition offers the most ambitious attempt at constructing a scientific theory of alternatives to capitalism, and it is important to understand the logic and limitations of this strategy of analysis. We will begin by briefly sketching the central elements of this strategy. This will be followed by a discussion of certain ways in which Marx’s approach is unsatisfactory. The chapter will conclude by explaining the central logic of an alternative. Chapter 5 will then elaborate this alternative in more detail.