Strike Debt Bay Area Book Group: Wealth Supremacy


April 20, 2024 @ 5:00 pm – 6:30 pm
Strike Debt Bay Area

Email a few days beforehand for the online invite.

For our April meeting we will be reading  Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today’s Crises, by Marjorie Kelly (Amazon, Penguin)

“This bold manifesto exposes seven myths underlying wealth supremacy, the bias that institutionalizes infinite extraction of wealth by and for the wealthy, and is the hidden force behind economic injustice, the climate crisis, and so many other problems of our day:

    • The Myth of Maximizing: No amount of wealth is ever enough.
    • The Myth of Fiduciary Duty: Corporate managers’ most sacred duty is to expand capital.
    • The Myth of Corporate Governance: Corporate membership must be reserved for capital alone.
    • The Myth of the Income Statement: Income to capital must always be increased, while income to labor must always be decreased.
    • The Myth of Materiality: Profit—material gain—alone is real, while social and environmental damages are not.
    • The Myth of Takings: The first duty of government must be the protection of private property.
    • The Myth of the Free Market: There should be no limits on the field of action of corporations and capital.

Kelly argues instead for the democratization of ownership: public ownership of vital services, worker-owned businesses, and more. And she sketches the outlines of a non-extractive capitalism that would be subordinate to the public interest. This is an ambitious reimagining of the very foundations of our economy and society.

Strike Debt Bay Area hosts this non-technical book group discussion monthly on new and radical economic thinking. Previous readings have included (in chronological order) Doughnut EconomicsLimitsBanking on the PeopleCapital and Its Discontents, How to Be an Anti-Capitalist in the 21st Century, The Deficit Myth,  Revenge Capitalism, the Edge of Chaos blog symposium , Re-enchanting the World: Feminism and the Politics of the Commons, The Optimist’s TelescopeMission Economy: A Moonshot Guide to Changing Capitalism, Exploring Degrowth, The Origin of Wealth, Mine!, The Dawn of Everything  A History of the World in Seven Cheap Things, Beyond Money, Less is More,  Cannibal Capitalism,  Debt, the First 5000 Years , Poverty, By America, End Times, Jackson Rising Redux , The Feminist Subversion of the Economy and How Infrastructure Works, Inside the Systems that Shape our World.


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