ISMAIL LAGARDIEN: Capitalism needs to evolve or die
Some economists call for a remodelling of the economic system that has lifted hundreds of millions out of poverty, but at a high cost
We have moved, within a decade, or so, from “capitalism is in a terminal crisis”, to “how do we save capitalism from itself?” This is either the last kick of a dying horse, or there is a distinct possibility that capitalism will be “saved”.
As I may have mentioned previously, I am not so sure that capitalism will die anytime soon. At the edge of fantasy, I would venture to say that the wealthiest and most powerful capitalists would force capitalism underground, so to speak. Think shadow banking or offshore accounts in privately owned islands.