Saturday, December 10, 2016

Wolfgang Streeck: the German economist calling time on capitalism


Streeck adds another voice to Stauss & Howe, and Ravi Batra.

It would be a mistake to see the current dissatisfaction of the 99% as only inequality of income and wealth, which the high earners and people high net worth write off to envy, as much as inequality of opportunity and the rise of unearned privilege that recalls the feudal era. 

Streeck believes that this is explosive and the people in charge are clueless not only about what to do about it, other than social repression, but are clueless about what is happening. As the scenario unfolds, they are in deep psychological denial and intellectually paralyzed.

The Guardian
Wolfgang Streeck: the German economist calling time on capitalism
Aditya Chakrabortty, senior economics commentator for the Guardian

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