Capitalism itself is a historical phenomenon. It coincides with the emergence of economic institutions, like banks, and is closely connected to monetary and fiscal policies.
Are we moving into a post-capitalist era?
What is the future of our economic system?
One can argue that the idea of global capitalism is a powerful but misleading myth:
The phenomenon of global capitalism is not just a recent development. It has deep historical roots.
Capital does not circulate globally: It moves mostly between a small group of rich countries.
Capitalism is not a globalizing international and universal structure. It is still organized nationally rather than globally, because international differences are as important as ever and nation-states continue to play a key role in the activities of transnational corporations.
Global capitalism does not integrate the world: wherever it spreads it divides the world more deeply between the rich and the poor, as well as between richer and poorer countries. International inequalities of wealth are on the rise everywhere.
Can we imagine living in a society that is not based on greed and competition?