The ‘crisis of capitalism’ is not the one Europeans think it is “The facts show capitalism to be not in crisis at all. It is stronger than ever, both in terms of its geographical coverage and expansion to areas (such as leisure time, or social media) where it has created entirely new markets and commodified things that were never historically objects of transaction.”
And
“There is however another issue that does seem to affect most countries, and it is to do with the functioning of political systems. In principle, politics, no more than leisure time, was never regarded as an area of market transaction. But both have become so. This has made politics more corrupt. Even if a politician does not engage in explicit corruption during their time in office, they tend to use the connections acquired to make money afterwards. Such commodification has created widespread cynicism and disenchantment with mainstream politics and politicians.”
And
“There is however another issue that does seem to affect most countries, and it is to do with the functioning of political systems. In principle, politics, no more than leisure time, was never regarded as an area of market transaction. But both have become so. This has made politics more corrupt. Even if a politician does not engage in explicit corruption during their time in office, they tend to use the connections acquired to make money afterwards. Such commodification has created widespread cynicism and disenchantment with mainstream politics and politicians.”
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