Exactly which form of Capitalism is Dead?

With all of the hoopla about the ‘death of capitalism’, or ‘failure of capitalism’, you would think everyone who believes in capitalism ought by now to be on verge of ‘Hara Kiri’ — you know, the whole ‘dismember yourself, spill out your guts, and die’ thing that is an honor code among Japanese.

First, let’s take the bull by the horns and admit the fact, which is, ‘American capitalism is failing, failing fast, is on verge of bringing about failure of American society’.

The reason I am not on verge of Hara Kiri?

There does not exist any agreed definition for Capitalism. While the current form of capitalism is failing, it is not my preferred version of Capitalism.

The version of Capitalism that is failing is what I refer to as ‘Hedonistic Capitalism’ — The ‘shareholders and management can treat employers, consumers, and suppliers anyhow they like’ variant of Capitalism’.

‘Hedonistic Capitalism’ is failing, already has failed America.

What then are alternatives to ‘Hedonistic Capitalism’? Well, first on the agenda is ‘Socialist Capitalism’, the sort of capitalism practiced in…