Naked Keynesianism
The Mission of Radical Political Economy
David Fields
An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Question: If capitalist economics is based on class exploitation and oppression, then why hasn’t the working class organized itself into a liberating revolutionary movement?
Answer: False consciousness!
The notion of false consciousness has been developed out of Marxist theory. The basic idea can be broken down into the following components. First, the dominant ideas in society are those of the ruling class or classes. Second, the interests of the dominant class or classes are not the same as those of the subordinate class or classes. Third, under such circumstances, the subordinate class(es) tend to adopt the interests of the dominant class and in-so-doing unknowingly takes on an ideological position that does not promote their interests.
Perhaps the most obvious and extreme example of false consciousness, to play-out in the real world, would be that of war. Here the use of nationalism, for example, as a means of getting the people of one country to fight against the people of another country, is employed by elites. Put simply, this results in working class people killing each other to protect and promote the existing power and privilege of the capitalist class.
Understanding that we can be socialized into adopting an ideological position that is detrimental to our own interests is an important step towards the development of revolutionary consciousness. The facilitation of such development also represents perhaps the greatest challenge to revolutionaries. Unfortunately however, the ways in which Marxists have tried to address false consciousness have led to a number of very problematic and undesirable outcomes. Here I would like to highlight two specific, and perhaps related, examples of this problem and present possible alternative solutions...Interesting Marxian analysis that takes issue with Marxism.