346 | The Crisis of Democratic Capitalism with Martin Wolf
The Realignment
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What Do We Want to Do With Capitalism?
In early 20th century america the rising working class became an increasingly powerful ediment in the body politic. It ended up with a decision to create a highly social democratic state. We have sort of gone back on it Uh, we diminished the size of the state and my view is we've probably gone a bit too far. The problem is the economy hasn't worked very well for all the reasons I've explained to you. Do we want to go back to 19th century capitalism really without democracy? That's the theme of this book.
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