The imperative for tomorrow’s economy to be more prosperous than today’s puts capitalism in a bind that necessitates resource extraction and pollution while also reducing costs or labor, which furthers wealth inequality and the polarization of humanity into producing and consuming classes (See Parts I and II). There are two general solutions to prevent theContinue reading “The Growth Imperative Part III: Solutions”
From corporations underpaying employees, evading taxes, and eliminating competition, the resulting society is one where an increasingly monopolised and polarized system benefit the wealthy and provide little opportunity for the not-wealthy to advance.
Neoliberalism, an economic ideology that emerged in the 1980s, favors market liberalization, free trade, and limited government intervention and has come to dominate the global political-economic system even today. However, this hyper-capitalism has been criticized for favoring the wealthy exclusively and exacerbating inequality for the rest. One of the most quintessential case studies in examiningContinue reading “Failure of neoliberalism in Latin America”