Without Social Democracy, Capitalism Will Eat Itself
by Karin Pettersson, Feb 10, 17
The Golden Age has now been gone longer than it lasted and the world it sprung from doesn’t exist anymore. Once a balance was struck between labor and capital. The relatively fair distribution of wealth that was the result of the post-war institutions is disappearing.
Step by step, capitalism is eating itself with potentially dramatic consequences for social stability and liberal democracy. Only the left can save capitalism now. The exploding inequality undermines growth, democracy, and the social contract.
When Bernie Sanders didn't get the Democratic nomination, I got some consolation knowing that capitalism wouldn't be saved any time soon. In order to survive, capitalism must keep growing. thus destroying the planet.
Albeit, when capitalism goes down, it's likely to take the planet with it. In either scenario, we seem to be in for rough times.