With epic scope, The Value of Nothing poses a spirited exploration of everything from the influence of market extremist Gary Becker of the Chicago School of Economics (and contemporary of Alan Greenspan) to social movements on food sovereignty and participatory budgeting that show us what real democracy is, or should be, about. Even the Dalai Lama's views on economic justice are tied into Patel's own views about how to fix things (hint: more democracy and more activism).
What I like about this book is that is a work of engaged ideas, particularly Patel's investigation into the consciousness of market society. (“Seeing the world through markets not only distorts our sense of our selves, but projects our disability onto everyone else.”) What I like less is the book's nascent ideological assumption that readers, alongside governments and financial elites, need to be disabused of any attachments to markets or private property. We're told that it is corporations, not people, who are to blame for the great environmental disasters of our time, despite the fact that, at last count, the planet boasted approximately 600-million climate-killing automobiles and a great many more drivers. Private property and sustainability may seem fundamentally incompatible, an assertion that is interesting but lacks proof.
Patel also rejects the use of market-based tools like carbon pricing to combat things like climate change. In other circumstances, this might be a tremendous statement of principle, but given that we have relatively little time to reshape whole economies in the face of advancing climate change – and eliminate vast energy and environmental subsidies in the process – rejecting carbon pricing or any other solution tainted by capitalism seems, well, a little precious.
Clearly, ideology is still the catnip of the global left, and this occasional weakness for portraying the world as a clash of malevolent ideas versus social movements often blinkers its proponents to over-focus on things that reflect a dialectical and neo-liberal bent, like the World Bank, American finance and Ayn Rand. Patel is hardly the worst offender on this point, but it does constrain his analysis. Simply put, free-market fundamentalism is an obvious factor, but it cannot explain the fullness of our crisis. Nor does it suitably explain major transformations like China's rise to power – which is literally rewriting the playbook on globalization and capitalism – or the mechanisms behind our deep dependence on affordable consumerism.
Patel's arguments are well-crafted and will likely, and predictably, find agreement among many who will purchase the book. But his real contribution is something bigger than another attack on neo-liberalism and the Chicago School of Economics. This is someone who has done field work around the world, listened prolifically to non-experts, and come away with a political modality that isn't just ideology, but speaks to human flourishing itself. “The opposite of consumption isn't thrift,” says Patel. “It's generosity.”
Gordon Laird is the author of The Price of a Bargain: The Quest for Cheap and the Death of Globalization.
