Frances Fox Piven | Extreme Poverty Has Been Used to Divide and Terrify Working People for Centuries

In the following excerpted chapter, scholar Frances Fox Piven argues that the guarantee of a universal income would facilitate a new economic fairness and stability to a financial system careening out of control.

Most of the world is now in the grip of hyper-capitalism, what we call neoliberalism. This new system has brought us careening economic instabilities, worsening ecological disasters, brutal wars, a depleted public sector and poverty in the affluent global north, and the prospect of mass famine in the global south.

It seems high time to think about alternatives to the capitalist behemoth. I don’t know whether we will ultimately call the new ways of organizing our society "socialist," but the values that have inspired movements for socialism in the past should inform our search. Those values include a society with sharply reduced inequalities in both material circumstances and social status. Socialist movements also aspire to lessen the grinding toil now imposed on those who work for wages. They dream of an inclusive culture. They fight for democratic practices and policies in which influence is widely shared. And they believe in eliminating the pervasive terror in everyday life that is produced by the exigencies of capitalist markets and the arbitrary power of the state regimes that support those markets.