Is Capitalism Working?
If the world is shaking, maybe it’s because the bedrock of the American economy and global growth — the capitalist system itself — is shifting. Some say breaking. Retailers slip, only to find traction and slip again as consumers pull back on their spending or chase new dreams prizing experience and sustainability. Technology is redefining everything, from privacy to what it means to be connected to other people. The U.S. health care and educational systems are inadequate. Old racial tensions have reappeared. Fears of monopolies, this time digital, are growing. And major geopolitical chess pieces are in play with Britain preparing to jump out of the European Union, the far right gaining ground on the Continent and President Donald Trump picking fights with almost everyone. Forces that seem destined to shape history are on the move and the people lucky enough to be able to take advantage of them have been moving ahead — and rapidly. Everyone else seems to be treading water or falling further behind. Many are crying foul. Their complaints can be heard most clearly in politics — on both sides of the aisle. Just as Trump rode a wave of discontent into office, telling his working-class base that they wereFollow WWD on Twitter or become a fan on Facebook.
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