Capitalism collides with climate catastrophe, 2030. Think about it!
Steps to compose DW pages. Topics to build in DW as survey reference pages. Must get stuff up and out. Must publish to reference links. List must include note and destination.
My contention about capitalism recognizes that historical events can shift the political-economic establishment (PE) rapidly. I will take QuickNotes here. The Covid-19 pits the economy against public health, money interests vs human health — a formidable test case that deserves close attention, as here.
The PE response talks about relief policies including expanding fiscal spending, financial market support (as always), and shared benefits beyond the endogenous financial crisis of 2007-2008. The implementation could be less clumsy, more adaptive, and quicker than anything since the New Deal. The Fed has done their part and the talk from the Oval Office appears pragmatic, less ideological. Much remains to unfold, so watch closely.
Social distancing and hunkering in place has disrupted the way that workers work, and much could stick. The Cloud appears popular, adaptive, and useful. Given that the productivity of the PE has slowed since 2008, this could be a breakthrough. The workers’ quality of life at the workplace could be permanently improved. Watch this emerging trend closely.
Explicit recognition of the plight of working folks could put checks in the mail, or digitally through the Cloud. Promises only so far but since wages have been stagnant since the late 1970s, this could be noteworthy.
I have presented capitalism as a potentially handy kit of tools such as responsive markets and macro-economic acounts (GDP) that tell the truth, fiscal and monetary policies that work for average folks, not just the plutocracy. Certainly, systemic PE dysfunctions shall persist: inequality, fiscal crisis, climate and overall ecological assault, and dispossession around the world, typically within rural areas.
The November elections loom. Cynics worry that Trump could try to postpone the elections if the pandemic persists or, as models suggest, intensify. However, the GOP fear of a massive Blue Wave, may open up popular support that has now been expected. Again, watch closely.
The Covid-19 pandemic could still intensify, with historically significant tragedies. However, a recession appears likely, so the business investment may continue to shrink and federal deficits explode.
Stakeholder capitalism along the lines of the EU could emerge, a potential game-changer. If a recession, or even widespread fear of an economic collapse, can open up such a possibility — but Dark Money will actively work against any threat to the profit of the plutocracy.