What comes after capitalism?

We live in an age of political earthquakes: That much, at least, seemed clear from newspaper headlines nearly every day of 2018. But intellectual tectonic plates were also shifting throughout the year, with ideas once dismissed as the ravings of the loony left breaking into the mainstream.

A Western consensus quickly formed after the collapse of communist regimes in 1989. It was widely believed by newspaper editorialists as well as politicians and businessmen that there was no alternative to free markets, which alone could create prosperity.

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A version of this article appeared in the print edition of The Straits Times on December 27, 2018, with the headline 'What comes after capitalism?'. Print Edition | Subscribe