Friday, June 24, 2016

Stagnating Capitalism

When I'm in the car listening to the Sound L.A., I keep hearing one of those "stop the I.R.S." ads promising to stave off some huge tax lien or wage garnishment. But the funny part that always trips me out is where the guy talks about "our current economic downturn." I mean, how many people buy that idea that we're in an "economic downturn"?

A lot, probably. But we're not.

We've been out of recession since June 2009, but super obviously, the country's economic prospects have not improved for untold millions of people. (Just ask all those white working class voters who've been swarming to Donald Trump's banner of "Make America Great Again.")

In any case, there's a new review essay on the economic crisis at the July/August 2016 issue of Foreign Affairs, "Capitalism in Crisis: What Went Wrong and What Comes Next."

One of the books there is by Paul Mason, Postcapitalism: A Guide to Our Future, which I've had my eye on for some time. But you know the story: I've got a lot on my plate, heh.