Member-only story

AMERICAN SYSTEM FAILURE?

Greg Daneke, Emeritus Prof.
9 min readDec 7, 2024

“Totalitarianism is feudalism in the twelfth century sense of the word”. Barbara Amiel

“With this system, a small privileged few are rich beyond conscience, and almost all others are doomed to be poor at some level. That’s the way the system works. And since we know that the system will not change the rules, we are going to have to change the system”. Martin Luther King, Jr.

“We all live in an operating system set up by the accelerating triad of war, capitalism and emergent artificial intelligence”. Steve Goodman

“The difference between capitalism and feudalism is that under capitalism, they make money directly through wages, manufacturing, and commerce and under feudalism, it’s directly through juro-political means”. David Graeber

“Has Capitalism seen its day? In the 1980s, the idea that ‘modern capitalism’ could be run as a ‘mixed economy’, both technocratically managed and democratically controlled, was abandoned. Later, in the neoliberal revolution, social and economic order was reconceived as benevolently emerging from the ‘free play of market forces. But with the crash of 2008, the promise of self-regulating markets attaining equilibrium on their own was discredited as well, without a plausible new formula for political-economic governance coming into view. This alone may be regarded as a symptom of a crisis that has become systemic.” Wolfgang Streeck

“The real problem of humanity is we have Paleolithic emotions, medieval institutions and god-like

--

--

Greg Daneke, Emeritus Prof.
Greg Daneke, Emeritus Prof.

Written by Greg Daneke, Emeritus Prof.

Top Economics Writer, Gov. service, corp consulting, & faculty posts (e.g., Mich., Stanford, British Columbia). Piles of scholarly pubs & occasional diatribes.

Responses (20)