The collapse of communist governments that began in 1989 revealed that history had readied one last twist of the knife: nothing did more to entrench the acceptance of capitalism than the demise of the movement that had invented the concept.
In the United States, the campaign against globalization captured national attention in 1999, when activists clashed with police in Seattle during a meeting of the World Trade Organization. But for large swaths of the left and the right, these seemed like shallow eddies running against the overpowering tide of what was increasingly referred to as “global capitalism.”
The disasters of 2008 were not quite what Marxists had hoped capitalism’s internal logic would supply—the particular form the financial crisis assumed took almost everyone by surprise—but they were close enough…
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The Nation, a ultra-leftist American publication establish eons ago that is still holding on, has printed a huge article. It goes on for pages. It never once mentions illegal immigrants driving down wages, or the increasing tendency of jobs to just disappear because computers can do them better.
I agree there is a problem, but I do not see any solutions here. They mention raising tax rates on the wealthy, but in a globalized world this is simply likely to make the wealthy leave for friendlier shores (see France, for example).