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A review by henkda
How Will Capitalism End?: Essays on a Failing System by Wolfgang Streeck
4.0
Dense...and demoralizing. Streeck assembles a series of papers/ lectures/ presentations in which he argues that democracy and capitalism are incompatible...and it's pretty clear the capitalists are winning. His focus is on the "Too Big to Fail" rescue of the financial markets, and how it appears that "the system" (my term, not his) is now pledged to serve the financiers of the world and not any countries' citizens. Some of his ideas helped me better understand my own thinking about our ever-increasing debtload (public and private), and how we are consuming tomorrow's resources today.
The title is indirectly answered--it will end when governments (taxing entities) will no longer be able to afford to service their debts. And, implied more than said, it won't be an Argentina-level default...it will be bigger and more countries (think Greece and its recent scrape).
His arguments also predict the nationalistic backlash among citizens of the West, as they recognize that the game is up.
He doesn't speculate on what comes after...
The title is indirectly answered--it will end when governments (taxing entities) will no longer be able to afford to service their debts. And, implied more than said, it won't be an Argentina-level default...it will be bigger and more countries (think Greece and its recent scrape).
His arguments also predict the nationalistic backlash among citizens of the West, as they recognize that the game is up.
He doesn't speculate on what comes after...