accelerationism

Noun

accelerationism (countable and uncountable, plural accelerationisms)

1. The idea that either the prevailing system of capitalism, or certain technosocial processes that historically characterised it, should be expanded and accelerated in order to generate radical social change.
   • Land (2011) has brought forward the notion of accelerationism: Rather than halting the onslaught of capital (such as by defending a welfare state or defending the right to work), accelerationism is a philosophical and political strategy that strives to exacerbate its processes to bring forth its...2013, Jonas Andersson Schwarz, Online File Sharing: Innovations in Media Consumption, Routledge, →ISBN, page 20
   • The new accelerationisms instead concentrate primarily on constructing a conceptual space in which we can once again ask what to do with the tendencies and machines identified by the analysis […]2014, Robin Mackay, Armen Avanessian, “Introduction”, in #Accelerate: The Accelerationist Reader
2. The theory that excessively low unemployment accelerates inflation.
   • Accelerationism was the most fundamental transformation of the Phillips approach into an expectational format. It hypothesized that inflation will become increasingly rapid in any maintained situation in which unemployment lies below some critical, or “natural,” rate.1975, Arthur Melvin Okun, “Inflation: Its Mechanics and Welfare Costs”, in Brookings Papers on Economic Activity, volume 6, number 2
   • For the period through 1984, there is weak support for accelerationism, though the linear fit is mainly due to the disinflationary impact of high unemployment, which no one disputes, not the inflationary effects of prosperity.1998, James K. Galbraith, “Comments”, in Inflation, Unemployment, and Monetary Policy, page 66