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CAPITALISM AS A DISCURSIVE SYSTEM?

Discourse theory posits capitalism as a radically contingent discursive system constituted through hegemonic practice. This paper asks what this discursive conception means for the critical analysis of capitalism. To answer this question, the paper first outlines the ways by which this discursive conceptualization enables a critical political economy of capitalist systems: namely by enabling a theorization of how such systems are hegemonically constituted, are ideologically maintained, become prone to crises, and may be contested. The paper then examines how this discursive conceptualization might account for the workings and dynamics, including cause–effect relations, of capitalism. That is, the paper examines if and how discourse theory can contribute to a critical political economy of capitalist systems. This examination draws upon and develops the concept of social logics. The paper concludes by suggesting that discourse theory can ‘supplement’ the critique of capitalist systems.