David F. Ruccio — Dustbin of history?

It’s time then, yes, to accept the idea that capitalism deserves to be placed in the dustbin of history—and, at the same time, to begin the process of imagining and creating an alternative set of economic and social institutions.

The design problem is to carry forward and amplify the positive while reducing and eventually eliminating the negative. It's a process, and it is an aspect of the historical dialectic. The mode of production is indeed changing as humanity enters the digital age and technology shifts away from emphasis on the mechanical toward the electronic.

It's becoming clear that we have a distributional problem regarding the surplus, rather than one involving production or scarcity.

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Dustbin of history?
David F. Ruccio | Professor of Economics, University of Notre Dame