Since the 1980's, a particular definition of the United States and the global economy as being "capitalist" has become hegemonic. In this view, a capitalist economy is autonomous, coherent, and needs to be regulated by its own internal laws. This view is an illusion. The reality is that...

Virtually everyone—left, right, and center—believes that capitalist economies are autonomous, coherent, and regulated by their own internal laws. This view is an illusion. The reality is that economies organized around the pursuit of private profit are contradictory, incoherent, and heavily...