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Abstract

‘The individual’ has been a central feature of western political thought for 300 years. However, the continuous transformation of the capitalist system, its tendency toward monopoly, its accelerating extension of commodification into the remaining global commons, particularly into the realms of knowledge and culture, is undermining the political function of this fundamental concept. The subordination and/or elimination of the owner-entrepreneur means that claims to represent ‘the individual’ appear less and less credible. Increasingly coercive measures are required to facilitate the extraction of surplus value. The decline of liberal individualism (in its 19th-century form at least) is not temporary. Its central tenets will never again be fully embraced since they no longer offer a credible means of representing the needs of either industrial or finance capitalism in a favourable light.

Keywords

capitalism class decline ideology individualism political economy

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Capital Accumulation and the Historical Decline of Liberal Individualism

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