By Robert Kuttner
One of our top social critics recounts capitalism’s most interesting hour, and indicates us how we'd in attaining it as soon as again.
Before and after international battle II, a serendipitous confluence of occasions created a fit stability among the marketplace and the polity—between the engine of capitalism and the egalitarian beliefs of democracy. below Roosevelt’s New Deal, unions and collective bargaining have been legalized. Glass-Steagall reined in speculative finance. At Bretton Woods, an international economy was once devised explicitly to permit countries to control capitalism. but this golden period grew to become out to be lightning in a bottle. From the Nineteen Seventies on, an influence shift happened, within which monetary rules have been rolled again, taxes have been minimize, inequality worsened, and disheartened electorate grew to become to far-right, pretend populism.
Robert Kuttner lays out the occasions that resulted in the postwar miracle, and charts its dissolution all of the technique to Trump, Brexit, and the tenuous nation of the ecu. Is today’s toxic alliance of reckless finance and ultra-nationalism inevitable? Or can democracy have the opportunity to survive?
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Can Democracy Survive Global Capitalism? by Robert Kuttner