As I was walking this morning, I found myself imagining, as
I have so often in the past, that someone was asking me what Marx thought
socialism would look like. I observed, in this imaginary conversation, that
Marx wrote vast amounts about capitalism and almost nothing about socialism. In
my mind I quoted again, as I have so frequently, the famous tagline from Marx’s
Contribution to the Critique of Political Economy, to the effect that the new
order grows in the womb of the old. Then I referred this imaginary interlocutor
to my essay The Future of Socialism, in which I invoke that tagline while
explaining why capitalism has moved beyond the point at which the market can be
relied upon neutrally to set prices.
But then a new thought occurred to me, and after it popped
into my mind it seemed to me so obvious that I could not explain to myself why
it had never occurred to me before. Socialism, for Marx and also, I might add,
for me can be defined simply in seven words as “collective ownership of the
means of production.” Is there some sense in which collective ownership of the
means of production has begun to develop within capitalism?
At this point, figuratively speaking, I struck my forehead
with the palm of my hand and said “duh!” (I do not ever actually strike my
forehead with the palm of my hand but allow me a little literary license.) Of
course there is a sense in which collective ownership of the means of
production has begun to develop within capitalism: the stock joint publicly traded corporation. Almost all modern corporations are
collectively owned – privately collectively owned. They are owned by the
shareholders.
In almost all cases – but perhaps not in the most famous
cases – those who manage the corporations and make the investment decisions own
at most tiny fractions of the total number of shares the collectivity of which
constitutes the financial representation of the capital of the corporation.
To be sure, in many cases the managers of a corporation, who
are technically speaking employees and whose salaries are listed as part of the
costs incurred by the corporation, manage legally to steal a portion of the
profits of the corporation and to award it to themselves in the form of
inflated salaries, stock options, and other perquisites. But nevertheless, a
transition from private ownership of the means of production to collective
public ownership of the means of production has already been achieved by means
of the intermediary stage of collective private ownership of the means of
production.
There may be many arguments for capitalism and against
socialism but one argument that cannot be made is that collective ownership of
the means of production is unworkable, because in fact modern capitalism
already exhibits collective (private) ownership of the means of production.
Well, I was so pleased with myself when this obvious thought
occurred to me that I turned my attention back to where my feet were going – a
constant necessity for someone suffering from Parkinson’s disease. Still and
all, obvious though it is, this thought strikes me as important enough to lay
before you for your consideration and comment.