TOWARD A BETTER CAPITALISM AND TOWARD A BETTER WORLD

Donghyun Park

Chapter 68 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 313-321 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Given the growing mountain of serious problems plaguing the world economy, it is easy to be pessimistic about its future prospects. The world’s banks seem prone to catastrophic crisis, as evident in the Global Financial Crisis which almost brought the world economy to its knees and precipitated a repeat of the Great Depression. The world was perilously close to an economic and financial meltdown which would have caused untold human misery and suffering. Moreover, the income gap between the rich and the poor seems to be growing ever wider. While the top 0.01% is drowning in a sea of money, 99.99% of us are struggling just to make ends meet. Extreme poverty continues to enslave large swathes of mankind, especially in Africa but also elsewhere. The prospects for gainful unemployment are growing increasingly bleak for youths, in advanced and developing countries alike. Climate change threatens the very future of mankind. And the list goes on and on…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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