Paul Kennedy VAMPIRE CAPITALISM Fractured Societies and Alternative Futures Vampire Capitalism Paul Kennedy Vampire Capitalism Fractured Societies and Alternative Futures Paul Kennedy Department of Sociology Manchester Metropolitan University, UK Manchester, United Kingdom ISBN 978-1-137-55265-5 ISBN 978-1-137-55266-2 (eBook) DOI 10.1057/978-1-137-55266-2 Library of Congress Control Number: 2016961824 © The Editor(s) (if applicable) and The Author(s) 2017 The author(s) has/have asserted their right(s) to be identified as the author(s) of this work in accordance with the Copyright, Designs and Patents Act 1988. This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and trans- mission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Cover Image: © miss_Tea / iStock / Getty Images Plus Cover Design: Fatima Jamadar Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Macmillan Publishers Ltd. The registered company address is: The Campus, 4 Crinan Street, London, N1 9XW, United Kingdom To Jasmine and Camille Acknowledgements In this book, I have stood on the shoulders of so many giants that it is difficult not to feel dizzy as well as extremely privileged to have enjoyed a career that allowed me to draw so freely and often on the knowledge, wisdom, inspiration and practical skills of such a vast number of scholars and thinkers. They have not all been mentioned in this writing but their influence over me during decades of study, teaching and writing is never- theless embedded firmly in this work. Then there are all those work colleagues in addition to associates and friends through my affiliations to professional organizations, par- ticularly the UK and North American Global Studies Association, who have shaped my ideas and offered support in countless additional ways over many years. Among valued colleagues and friends at Manchester Metropolitan University (MMU), I would particularly like to thank Shoba Arun, Colin Barker, Susie Jacobs, John Jordon, Steven Miles, Phil Mole, Gary Pollock, Chris Porter, Scott Poynting, Berthold Schoene and formally, Derek Wynne. Beyond the walls of MMU, the following have been more influential and helpful than they probably realize: Barrie Axford, Marco Caselli, Robin Cohen, John Eade, Stephen Edgell, Jerry Harris, Ray Kiely, Roy May, Darren O’Byrne and Leslie Sklair among many others. Special thanks are due to those who have bravely endured, read, criti- cally reviewed and handsomely advised on this manuscript during the past vii viii Acknowledgements year as it evolved. They are Robin Cohen, Stephen Edgell, Jerry Harris, John Jordan, Ray Kiely, Tony Nixon, Phil Mole and Scott Poynting. I tried to follow their suggestions as much as possible but clearly I remain fully responsible for any flaws, omissions or mistakes that may lurk within this writing. Beyond academia, the team at Palgrave has been patient and support- ive at all times and I thank them sincerely. Finally, many thanks are due to my family who have always provided enthusiastic support and emo- tional solace during the long period of preparation and writing, especially my long-suffering wife and partner, Sue. Contents 1 Introduction: Capitalist Modernity in Question 1 2 The Rise of Vampire Capitalism (and not a slayer in sight) 29 3 The Roots of Vampire Capitalism 61 4 Living with Twenty-First-Century Capitalism 99 5 The Juggernaut of Science and Technology: Friend or Foe? 131 6 Individualization and the Cultures of Capitalism 169 7 Global Capitalism and the Biosphere: Our Future in Jeopardy 203 8 Does Capitalism Have a Future? 239 ix x Contents 9 Alternatives: Exploring Possibilities 273 Bibliography 315 Index 339 List of Acronyms AI Artificial Intelligence AOSIS Alliance of Small Island States CCS Carbon Capture and Storage (systems/technologies) CDOs Collateral Debt Obligations CEO Chief Executive Officer CEPGs Corporate-funded Climate and Environmental Policy Groups CO Carbon Dioxide 2 COP Conference of Paris EA East Asia EU European Union EU ETS European Emissions Trading System EPOS Electronic Point of Sale (systems) EPZ Export Processing Zone FAO Food and Agricultural Organization GATT General Agreement on Trade and Tariffs G20 World’s Largest Economies GDP Gross Domestic Product GHGs Greenhouse Gasses GPT General Purpose Technology HNWI High Net Worth Individual xi
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