The ghosts of progress: Contradictory materialities of the capitalist Golden Age

This theoretical contribution will examine the process of displacement of the constitutive contradictions of advanced capitalist societies from interior to exterior during the postwar era known as the ‘capitalist Golden Age’ (1945 to 1980). I ask the following question: what if this displacement is both an inherent and necessary process? In that case, the apparent stability or expansion gained in the core during this era was not only at the expense of externalized instability and destruction ‘elsewhere’; rather, this displacement was a precondition for growth in the centre. This has normative, political and methodological implications for current projects of socio-ecological transformation based on a proverbial Green New Deal. By examining theories of unequal ecological exchange and biophysically expanded versions of the labour process as developed by ecological anthropologists such as Hornborg or ecological economists such as Georgescu-Roegen, I will explore the possibility of understanding the material trajectory of advanced capitalism as a zero-sum game. This leads to a view of capitalist development in the 20th century where the accumulation process is no longer seen as progressive. To substantiate this argument, I will re-examine the energy flow patterns that sustained the growth of American capitalism during the Fordist period of accumulation, or so-called Golden Age of American capitalism. This revision of the American experience of growth from 1945 to 1980 can be considered a contribution to the wider study of the development of the dependence of capitalism on fossil fuels, or ‘fossil capital’.