Its challengers apparently vanquished, the main threat to capitalism may now come from disorders that lurk within the system itself. Wolfgang Streeck diagnoses its crisis symptoms, from persistent stagnation to global anarchy, and asks what lies in store as they multiply.
As with the end of feudalism 500 years ago, capitalism’s replacement by postcapitalism will be accelerated by external shocks and shaped by the emergence of a new kind of human being. And it has started.
Information technology has brought about in the past 25 years. First, it has reduced the need for work, blurred the edges between work and free time and loosened the relationship between work and wages. The coming wave of automation, currently stalled because our social infrastructure cannot bear the consequences, will hugely diminish the amount of work needed – not just to subsist but to provide a decent life for all.
Without us noticing, we are entering the postcapitalist era. At the heart of further change to come is information technology, new ways of working and the sharing economy. The old ways will take a long while to disappear, but it’s time to be utopian
….. but The real-world practice of capitalism typically involves some degree of so-called “crony capitalism” due to demands from business for favorable government intervention and governments’ incentive to intervene in the economy.
What Is Capitalism: Varieties, History, Pros & Cons, Socialism
There may be trouble ahead…
As with the end of feudalism 500 years ago, capitalism’s replacement by postcapitalism will be accelerated by external shocks and shaped by the emergence of a new kind of human being. And it has started.
Information technology has brought about in the past 25 years. First, it has reduced the need for work, blurred the edges between work and free time and loosened the relationship between work and wages. The coming wave of automation, currently stalled because our social infrastructure cannot bear the consequences, will hugely diminish the amount of work needed – not just to subsist but to provide a decent life for all.
….. but The real-world practice of capitalism typically involves some degree of so-called “crony capitalism” due to demands from business for favorable government intervention and governments’ incentive to intervene in the economy.
most people wouldn’t mind – if they were only killing themselves. Maybe we should help them to their destiny before they infect responsible people.
So, like, yey freedom! then dies.
Why not have both – simply refuse to keep yourself and others safe from Coronavirus / Covid-19