Just as the two sides in the Cold War agreed that Capitalism and Communism were “the” two alternatives, so the two sides in the intellectual Great Debate agreed on a common framing of questions with the defenders of capitalism taking one side and Marxists taking the other. From the viewpoint of economic democracy (e.g., a labor-managed market economy), this late Great Debate between capitalism and socialism was as misframed as would be an antebellum Great Debate between the private or public ownership of slaves. The Great Debate between capitalism and socialism is now in the dustbin of intellectual history, but Marxism still plays an important role in sustaining the misframing of the questions so that the defenders of the present employment system do not have to face the real questions that separate that system from a system of economic democracy. In that sense, Marxism has become the ultimate capitalist tool.
Click here to download paper.