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Showing posts with the label “authoritarian capitalism”

‘Democratic Capitalism’? Is it possible?

Martin Wolf wants “to awaken the conscience of the global bourgeoisie and to produce a virtuous class consciousness that will render it capable of solving the problems it has created for itself. He fears that it is unconsciously generating its own gravediggers, in the twin forms of resentful populist demagogues and a more efficient Chinese state capitalism. “Policies that might otherwise seem to be expressions of ruthless class interest are reframed as basic truths known or prevailing assumptions held by competent, reasonable people, who served to implement and safeguard them from dreamers and despots. But if they are reasonable truths, Wolf is left unable to explain how they have led to such unreasonable ends and empowered such unreasonable people.” Full review via a google account