it needs actively to be tamed, regulated and modified and for that to happen there has to be struggle and countervailing forces, above all a vigorous lib-lab and union presence
on capitalism
an ideological product of irrational neoliberalism and the obverse fatigue of the neo-Keynesians
He disregards the important German Ordoliberalen, but the attack on neoliberalism is well taken.
Neoliberalism failed to bring proper recovery (from the viewpoint of the many); and in any case came chiefly to mark the Anglophone countries along with the now globalized and enormously expanded financial sector.
Neo-Keynesian success brought its own downfall in over-accumulation, over-production, and sundry other dislocations: OPEC price hikes in oil, stagflation, the beginnings of financialization, the transfer of production to low-wage areas, the end of social compromise and the appearance of the disastrous, neoliberal solution of market fundamentalism that would reach its peak in the 1980s and 90s.
