The Melting Away of North Atlantic Social Democracy

  • metta

    Posts: 44222

    Dec 22, 2015 9:43 PM GMT

    The Melting Away of North Atlantic Social Democracy

    "We are, he believes, on a long-run historical trajectory to return us to a situation more like the nineteenth century, in which ownership of capital is more important relative to labor as a source of income; inheritance dominates enterprise and savings as a source of wealth; opportunity is tightly constrained by class of birth; economic growth is slow (both because of declining technological invention and birth rates on the one hand, and because established wealth, which is hostile to the creative destruction that drives economic growth, possesses a bigger voice in shaping the political economy); and politics is dominated by plutocrats."
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    Dec 22, 2015 10:12 PM GMT