Reimagining Capitalism: Bold Ideas for a New Economy
William Greider
The Nation
June 8, 2011
The Nation asked a playful question and got back serious answers. Imagine you have the ability to reinvent American capitalism: Where would you start? What would you change to make it less destructive and domineering, more focused on what people really need for fulfilling lives?
We put the question to an eclectic list of people who are known for thinking long term—public-spirited veterans of business and finance, optimistic activists, inventive policy thinkers. Their responses provide a provocative sampler of smart ideas—concrete proposals for reforming the dysfunctional economic system in fundamental ways. These brief essays should stimulate imaginations and maybe start some healthy arguments. At the very least, they demonstrate that the nation is alive with fresh thinking and bold outlines for big change.
The problem, of course, is that none of these ideas have any traction in regular politics. Both parties are locked in small-minded brawls, unable to think creatively or even to tell the truth about our historic economic crisis. Republicans are lost in preposterous nostalgia for small, simple government. Democrats have their own delusions: they insist that regulation will somehow fix whatever is broken, ignoring that the failure of regulation was a principal cause of catastrophic breakdown.
Politicians argue over big government so they can avoid talking about big capitalism, the larger source of our predicament. But reality is not cooperating with their evasions. Despite the so-called recovery, the economic pathologies generated by unbounded capitalism during the past thirty years are expanding. Falling wages and surplus labor, swelling trade deficits and foreign indebtedness, deepening inequality and the steady destruction of the broad middle class—the political system does not have an answer for any of these.
(More here.)
The Nation
June 8, 2011
The Nation asked a playful question and got back serious answers. Imagine you have the ability to reinvent American capitalism: Where would you start? What would you change to make it less destructive and domineering, more focused on what people really need for fulfilling lives?
We put the question to an eclectic list of people who are known for thinking long term—public-spirited veterans of business and finance, optimistic activists, inventive policy thinkers. Their responses provide a provocative sampler of smart ideas—concrete proposals for reforming the dysfunctional economic system in fundamental ways. These brief essays should stimulate imaginations and maybe start some healthy arguments. At the very least, they demonstrate that the nation is alive with fresh thinking and bold outlines for big change.
The problem, of course, is that none of these ideas have any traction in regular politics. Both parties are locked in small-minded brawls, unable to think creatively or even to tell the truth about our historic economic crisis. Republicans are lost in preposterous nostalgia for small, simple government. Democrats have their own delusions: they insist that regulation will somehow fix whatever is broken, ignoring that the failure of regulation was a principal cause of catastrophic breakdown.
Politicians argue over big government so they can avoid talking about big capitalism, the larger source of our predicament. But reality is not cooperating with their evasions. Despite the so-called recovery, the economic pathologies generated by unbounded capitalism during the past thirty years are expanding. Falling wages and surplus labor, swelling trade deficits and foreign indebtedness, deepening inequality and the steady destruction of the broad middle class—the political system does not have an answer for any of these.
(More here.)
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