Is capitalism broken?

There is a strong argument that neoliberal economics and growth-based capitalism are, at their core, disimagination machines. As the scholar Richard Sennett puts it, ‘Modern capitalism works by colonising people’s imagination of what is possible.’56 Thomas Piketty has shown how the creation of inequality is fundamental to capitalism’s model, built

Unlike capitalism it believes that the free market, without periodic redistributions, creates inequalities that are ultimately unsustainable because they deprive some individuals of independence and hope.

What makes capitalism distinctive isn’t that it has markets, but that it is organised around perpetual growth; indeed, it is the first intrinsically expansionist economic system in history. It pulls ever-rising quantities of nature and human labour into circuits of commodity production. And because the goal of capital is to extract and accumulate s