Tango Capitalism
It takes two for a tango. And it takes two classes for capitalism to dance - capitalists and workers. Much focus has been put on the fact that wages have to be above subsistence for the working class - and thus capitalism - to function. Less attention has been given to the critical level of capitalist consumption for the capitalist class to survive. Untill now. What happened around 1980? In an intriguing new article Nicolas Villarreal demonstrates that the capitalist class experienced a near-death event around 1980 and was only saved by the neoliberal turn....