A Harvard University survey found that among adults between 18 and 29 years of age, 51 percent "do not support capitalism." 42 support it, reports The Washington Post. A third say they support socialism as an alternative.
The survey is "difficult to interpret" due to the simplicity of choices and their lack of definition, say pollsters.
Capitalism can mean different things to different people, and the newest generation of voters is frustrated with the status quo, broadly speaking. All the same, that a majority of respondents in Harvard University's survey of young adults said they do not support capitalism suggests that today's youngest voters are more focused on the flaws of free markets.Read the rest
The Onion proves that it's still got it (and that you can distill the entire joke to a single headline if you have the right shooping skills): Pope Francis Reverses Position On Capitalism After Seeing Wide Variety Of American Oreos.
Fracking is the perfect metaphor for the service-charge, extraction oriented economy: "suck up a sky’s worth of valuable gas through a massive crack pipe, then pack up and lumber off to fracture and steal someone else’s underground treasure." Read the rest
"Its protagonist lives in a world of almost continual night, with the hungry eyes and dead affect of an Ayn Rand wet dream: his world is constituted of chrome, glass, a palette of white-to-taupe, a spatter-pattern rug and one book, a single book, on graphic design" - Piercepenniless on the Redrow London property development promo video. Read the rest
Before Reagan's FCC deregulated kids' TV and allowed toy-makers to produce 22-minute commercials disguised as cartoons, there had been major strides in de-gendering toys, grouping them by interest, rather than by constraining who was "supposed" to play with them. Read the rest
Thomas Piketty's much-discussed economics bestseller Capital in the Twenty First Century prophesies a future where inherited wealth dominates the world, because the rate of return on capital outstrips the rate of growth in the economy, meaning the money your ancestors earned will always outstrip what you could earn. A new Boston Consulting Group report confirms Piketty's hypothesis, concluding that the share of wealth due to capital increased by 14% last year Read the rest
In Rolling Stone, Sean McElwee enumerates five of Marx's predictions for late-stage capitalism that have largely come true in the 21st century, from globalization to the boom in luxury goods (what Marx called "imaginary appetites"): Read the rest