Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

I think it all comes back to one central theme: income inequality. Capitalism is sort of this gangster construct that leverages a species' selfishness and creates all sorts of prosperity from that selfishness. But the key to successful capitalism has always been a middle class.

At the turn of the millennium, America was the only superpower, and we had the most prosperous middle class in the world. In the past 20 years, the key feature of China's rise into a superpower has been adding several hundred million people to its middle class. But for the past 50 years in America, we have decided to transfer wealth from the middle class to the shareholder class.

by Oui on Tue Apr 13th, 2021 at 11:05:51 AM EST
AFAIK "Successful Capitalism" is based on the ~50 years after World War 2, ending when the Capitalists successfully removed the restrictions placed on them the last time they destroyed the global economy in 1929 eventually leading to a global war.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Tue Apr 13th, 2021 at 04:28:12 PM EST
[ Parent ]


Occasional Series