Is Capitalism Finished?

Is Capitalism Finished?

Is the great and final crash of capitalism at last at hand?

Well, as Lyndon Johnson’s legendary job aspirant answered the school board member who inquired about his views on cosmology, I can teach it round or flat. Let’s try round first. The portents of impending global calamity are numerous. They threaten the social and class harmony that has accompanied and stimulated Western prosperity in the three decades since the conclusion of World War 11. The bargain implicitly struck between owners and workers ratified existing distributions of income, wealth, and power (everywhere extremely unequal) in return for high, steady employment, a flood of consumer goods, and steady improvement in average standards of life.

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