The assumption underlying Mulgan’s ana - lysis is that, for practical and political purposes, capitalism is the only game in town. At a global level, this may be right. Despite the financial crisis, there are no signs of any serious rival to capitalism emerging in the foreseeable future. Plainly Mulgan agrees but he seems reluctant to admit this. For him, capitalism is protean to the point of being indefinable in material terms: “It is at root an idea, an imaginary, a way of seeing the world. This idea is the single-minded pursuit of growth in value, or more specifically of growth in representations of value that can be exchanged with others.”
Capitalism was a figment of Karl Marx's imagination. Commerce is the reality. Capital has been found to be a useful tool in commerce. But commerce itself is about property and goods and services.
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