Peter Hart Ward wrote:
>
> capitalism, or what we call capitalism at any rate
> (the market economy, i.e.), is moribund. This raises a question: If
> this is indeed the case, will the whole thing collapse completely or
> will it transmutate into something else,
This is the trouble with looking at the world in moral/ethical terms; it blinds one to reality and corrupts the meaning of words.
Capitalism is far from moribund; in fact it is just getting a good start. The fact that it keeps the overwhelming proportion of the human species in abject misery or, at best, in a state of continual anxiety, is nothing at all against capitalism in its own terms. To use this evidence to call capitalism moribund is to desert reality for utopian morality.
Capitalism will not collapse, EVER.
Capitalism will not mutate into something else, EVER.
If you don't hit it, it won't fall.
Slumps and human misery are the health of capitalism.
Carrol