[...] Capitalism has generated massive increases in productivity and extravagant wealth for some, yet many people still struggle to make ends meet. Capitalism is an inequality-enhancing machine as well as a growth machine. What’s more, it is becoming ever clearer that capitalism, driven by the relentless search for profits, is destroying the environment. And in any case, the pivotal issue is not whether material conditions on average have improved in the long run within capitalist economies, but rather whether, looking forward from this point in history, things would be better for most people in an alternative kind of economy. It is true that the centralized, authoritarian state-run economies of twentieth-century Russia and China were in many ways economic failures, but these are not the only possibilities.