The Zombie System: How Capitalism Has Gone Off the Rails

The industrial world is failing to produce jobs and opportunities for citizens, and its leaders are at a loss for how to jump-start the economy after the lackluster performance of previous efforts. “Politicians and business leaders everywhere are now calling for new growth initiatives, but the governments' arsenals are empty,” writes Michael Sauga for Spiegel Online. “The billions spent on economic stimulus packages following the financial crisis have created mountains of debt in most industrialized countries and they now lack funds for new spending programs.” Savings once led to investment in infrastructure and skills, new jobs. Government funds fueled rising prices for stocks, real estate, bonds and other investments without sustainable growth. Ownership of wealth is increasingly concentrated, and lobbyists sway government leaders to protect the status quo. Thus, Sauga notes in the four-part series, a crisis for capitalism is also a crisis for democracy. – YaleGlobal