The End of Capitalism Has Begun
The red flags and marching songs of Syriza during the Greek crisis, plus the expectation that the banks would be nationalised, revived briefly a 20th-century dream: the forced destruction of the market from above. For much of the 20th century this was how the left conceived the first stage of an economy beyond capitalism. The force would be applied by the working class, either at the ballot box or on the barricades. The lever would be the state. The opportunity would come through frequent episodes of economic collapse. Instead over the past 25 years it has been the left’s project that has collapsed. If you lived through all this, and disliked capitalism, it was traumatic. As with the end of feudalism 500 years ago, capitalism’s replacement by postcapitalism will be accelerated by external shocks and shaped by the emergence of a new kind of human being. Postcapitalism is possible because of three major changes information technology has brought about in the past 25 years.
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