Academic journal article et Cetera

The Future of Capitalism

Academic journal article et Cetera

The Future of Capitalism

Article excerpt

Lester C. Thurow. The Future of Capitalism. New York: William Morrow, 1996.

According to MIT professor Lester Thurow, when it comes to catering to the wants and desires of every individual, no matter how trivial those wants seem to others, no system does it even half so well. Capitalism's nineteenth and twentieth century competitors -- fascism, socialism, and communism are all gone. "Unfortunately, American capitalism seems to be evolving into an age of contentment for the upper class and an age of diminishing expectations for the middle class. Corporate downsizing has thrown many American workers off capitalism's economic team and there's a danger they will want to leave the political team (as was seen by Pat Buchanan's support around the issue of isolationism)." In The Future of Capitalism, Lester Thurow examines some major forces causing current economic disequilibrium. They include:

The conversion of the Communist world to capitalism with one third of humanity added to the capitalist world, major realignments will be required.

The rise of man-made brainpower industries - new advances in technology will allow industry to be located anywhere, shifting the emphasis away from physical capital.

Changing demographics -- social programs will need to adapt to the growing numbers of elderly people without income, and of others, young and old, migrating from poor to rich countries. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.