Marxian Analysis of Bitcoin: Tool of Capitalism or Liberator From It?

When we see capitalists speculating on bitcoin it’s easy to become cynical about whether that could be used as part of a new socialist society. Some visionary socialists see it as a potential medium in helping to build a socialist society because it doesn’t require state or bank intermediaries. Political economist Michael Roberts weighs in with his usual dialectical and even-handed analysis.

Image from capitalismtools.com 

About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his five books: "From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning", "Power in Eden: The Emergence of Gender Hierarchies in the Ancient World" (co-authored with Christopher Chase-Dunn), "Social Change: Globalization from the Stone Age to the Present", "Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized", and "The Magickal Enchantment of Materialism: Why Marxists Need Neopaganism". He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia, WA.

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