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Thursday, April 3, 2025

Capitalism everywhere? (2025)

Book Review from the April 2025 issue of the Socialist Standard

Profit: an Environmental History. By Mark Stoll. Polity £17.99.

This volume contains a great deal of useful information, not just about the environment and how production has affected it, but also on the history of technology and industry, and there are many pages of references.

Various kinds of pollution are referred to, such as the massive oil spills from the Torrey Canyon supertanker in 1967 and the Deepwater Horizon drilling platform in 2010. But environmental impacts go back much earlier. In the Middle Ages, for instance, silver and gold were imported to Italy to be minted into coins, which led to toxic chemicals being washed into streams and rivers near the mines, in Bohemia and other places. Areas near the mines suffered from deforestation. By the seventeenth century sugar refineries and other industries in the Netherlands emitted vast amounts of stinking coal smoke. In the Americas, growing tobacco depleted the soil, but colonists just moved to extensive uncleared land. In the nineteenth century Britain was the largest producer of copper, which meant the emission of poisonous substances such as sulphur dioxide and arsenic. A lot more material along similar lines is surveyed here.

However, the book has some negative points too. For some reason, the author refers several times to the religious views of various individuals. Does it really matter that Rachel Carson, author of the conservationist classic Silent Spring, was a Reformed Protestant or that Bill Gates used to be a Congregationalist?

More significantly, Stoll has a very all-embracing approach to capitalism, which he sees as an economic system where owners of accumulated wealth invest it for profit in extracting raw materials or producing and distributing goods. There have been various forms of it over the centuries, from incipient capitalism to plantation capitalism in ancient Greece to industrial capitalism and present-day consumer capitalism. He writes: ‘we cannot live with capitalism and we cannot live without it. At best, we can work to ameliorate its worst effects.’ And it ‘is rooted in human nature and human history’. Wage labour gets an occasional mention but does not seem to be viewed as an essential part of capitalism. Nor is it recognised that the way most people made their living has varied enormously over the centuries. Furthermore, his idea of profit goes well beyond the notion of surplus value as an intrinsic part of the employment-and-wages system, since he states that forty thousand years ago people made a profit by exchanging tools they had made for other goods they did not have to make themselves.

From the late nineteenth century, industrial capitalism has come to be gradually replaced by consumer capitalism, with its emphasis on advertising and built-in obsolescence. In the US, it seems, a piece of clothing is worn on average seven times before being discarded. The biggest companies sell to consumers rather than manufacturing goods (Amazon and Walmart, for instance).

It is not clear, but Stoll appears to see capitalism as more than just islands of commodity production within a wider economy. The book contains much of interest but its approach to capitalism leaves a lot to be desired, not recognising that the drive for profit is an essential part of a system built on wage labour and production for sale.
Paul Bennett

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