The employment rates are in very bad shape. We vastly underestimate the unemployment
Immanuel WallersteinWe must distinguish between the kind of structural transformation that would leave in place (even increase) the realities of the exploitation of labor, and one that would undo this kind of exploitation or at least radically reduce it
Immanuel WallersteinThe way in which these two practices contain each other is that it has always been possible to use the one against the other: to use racism-sexism to prevent universalism from moving too far in the direction of egalitarianism; to use universalism to prevent racism-sexism from moving too far in the direction of a caste system that would inhibit the work force mobility so necessary for the capitalist accumulation process.
Immanuel WallersteinScientific culture created a framework within which individual mobility was possible without threatening hierarchical work-force allocation. On the contrary, meritocracy reinforced hierarchy. Finally, meritocracy as an operation and scientific culture as an ideology created veils that hindered perception of the underlying operations of historical capitalism.
Immanuel WallersteinThe first and probably most fundamental aspect of this crisis is that we are now close to the commodification of everything. That is, historical capitalism is in crisis precisely because, in pursuing the endless accumulation of capital, it is beginning to approximate that state of being Adam Smith asserted was 'natural' to man but which has never historically existed. The 'propensity [of humanity] to truck, barter, and exchange one thing for another' has entered into domains and zones previously untouched, and the pressure to expand commodification is relatively unchecked.
Immanuel Wallerstein