Hyper-capitalist development, privatisation, affordable housing, “surprising poverty.”
That’s the opinion the Financial Times nowadays publishes from time to time. You don’t find such a language on the FT a few years ago. When I started reading the paper in early 2000s it was all about “liberal democracy” and “free market democracy.” Even after 2008/09 crisis columnists such Martin Wolf continued his defence of “free market liberal democracy” while other pages of FT were evoking Karl Marx.
The word ‘capitalism’ is now everywhere.
Now some, the FT for example, think that such a form of capitalism has to be put on a leash, especially after the pandemic and the disaster, the cronyism, the corruption, etc. that have become too obvious and even worrying for some liberals.
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Here is what the Financial Times, a supporter of neoliberal capitalism of last 40 years is suggesting to reform a system in a deep crisis and thus preserve it:
"Radical reforms — reversing the prevailing policy direction of the last four decades — will need to be put on the table. Governments will have to accept a more active role in the economy. They must see public services as investments rather than liabilities, and look for ways to make labour markets less insecure. Redistribution will again be on the agenda; the privileges of the elderly and wealthy in question. Policies until recently considered eccentric, such as basic income and wealth taxes, will have to be in the mix."
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