A crucial argument for the incessantly promoted idea that capitalism will be with us for a long time to come is the idea of inertia in human understanding. Ideas are stubbornly persistent and can only be changed over long periods of time. Slow evolutionary change is the best we can hope for, and the prospects even for that are uncertain and fragile.
Predictions are difficult to make, especially, as the old joke goes, when they are about the future. Particularly fraught have been predictions of the demise of capitalism. Conventional wisdom would have us believe that because capitalism remains the world’s dominant economic system, predictions of the system’s demise are not only wrong, but destined to be wrong in the future.
It is not unusual for critics of United States foreign policy, whether or not they feel free to use the term “imperialism,” to express regret that a previously rational system has soured. Such sentiments are routine for liberals and hardly unknown among social democrats.
The United States government is able to impose its will on all the world’s countries. The rest of the world, even some of the strongest imperialist countries of the Global North, lie prostrate at the feet of the U.S. What is the source of this seemingly impregnable power? Which of course leads to the next question: How long can it last?
Let’s not mince words: Wednesday’s storming of the United States Capitol building was the work of fascism. That it didn’t and couldn’t succeed, and that Donald Trump is days from being out of the White House, should not blind us to the reality of larger social forces at work.
An article I read shortly after Jacinda Ardern’s re-election in New Zealand noted, with a touch of weariness, that Labour’s victory came after a campaign measured in “weeks.” Folks there ought to count themselves lucky — the United States has endured years of campaigning in what has proved, to the surprise of no one, its nastiest presidential contest in memory.
Is it already too late to stop global warming? That question is not asked with thoughts of throwing up hands in despair and giving up. Rather, that question must be asked in the context of mitigating future damage to whatever degree might yet be possible.
Many of the same extreme right operatives who created the “Tea Party” are behind the anti-science and anti-intellectual spectacles opposing measures designed to combat the Covid-19 pandemic. And with much the same agenda.
The biggest problem with the future is that you can’t know what it will be. When Ronald Reagan was elected United States president in 1980, we did not at the time realize a new era of capitalism had begun; that the ascension of Reagan in the U.S. and Margaret Thatcher in Britain a year earlier definitively brought the end of the Keynesian period. Less than a decade earlier Richard Nixon had said, “We’re all Keynesians now.”
As a candidate for president, Donald Trump claimed he wanted a better deal for U.S. workers. Surprise! Oh, okay, that he was lying really isn’t a surprise at all. Far from a “better deal,” the Trump administration is now offering a North American version of the Trans-Pacific Partnership.
A basic income — the concept of everybody getting a regular check from the government regardless of circumstance — is one of those ideas that sound wonderful on the surface but proves to be much less so once we examine the details.
Politely walking into pens set up by police, shaking our signs and gently dispersing will not build a movement serious about root-and-branch change. Even the more militant demonstrations, in which people — gasp! — actually take the streets in defiance of authorities, both legal and NGO, are far from sufficient.