The capitalism vs socialism economic paradigm that emerged in the 19th century is outdated. Modern states have retained elements of both of these and fused into Burham’s managerial revolution and Kotkin’s neo-feudalism. The new paradigm should be neo-feudalism/managerial elite vs. anarchism.
Professor of Economics Richard Wolff explains the dire direction our economy is headed towards as unemployment continues to skyrocket.
Categories: Economics/Class Relations