From Foreign Policy · Antara Haldar · · 1m 30s
Democrats Rethink Capitalism
Progressives could reshape U.S. capitalism after midterm wins.
In brief
Progressives could reshape U.S. capitalism after midterm wins. Democrats may rebuild capitalism around human connection after midterm victories. Originally reported by Foreign Policy.
Progressive wave gains ground
Progressive candidates won Senate seats in Texas, South Carolina, Minnesota, and Colorado.
“The barbarians are inside the gate”
Democratic socialism rises
Democratic socialism gained traction amid economic crisis and voter disillusionment.
Economic consensus under strain
Neoclassical economics promised growth but failed to address inequality and climate change.
Human psychology challenges capitalism
Economics assumes humans are self-interested, but people value connection and emotion.
Institutions too small or too large
Global problems require institutions that are neither too small nor too large.
Affective institutions proposed
Community governance structures could create robust economic communities.
Mondragon cooperatives model
Mondragon cooperatives in Spain employ 71,000 people and generate $12 billion in sales.
European Union experiment
The EU uses subsidiarity to balance national and regional decision-making.
Progressive opportunity
Democrats have a historic chance to reshape capitalism after midterm victories.
Zohranomics experiment
New York City Mayor Zohran Mamdani tests democratic socialism locally.
Capitalism's blind spots
Capitalism ignores carbon emissions and children's value while increasing inequality.
Economic consensus challenged
The 'end of history' economic model faces growing criticism from voters and experts.
Progressive vision
Progressives aim to build institutions centered on human connection and community.
What's next
Democrats must rebuild capitalism around human relationships after midterms.
What it means
Democrats may rebuild capitalism around human connection after midterm victories.
