The Clash of Capitalisms

The Real Fight for the Global Economy’s Future

David Plunkert

Capitalism rules the world. With only the most minor exceptions, the entire globe now organizes economic production the same way: labor is voluntary, capital is mostly in private hands, and production is coordinated in a decentralized way and motivated by profit. There is no historical precedent for this triumph. In the past, capitalism—whether in Mesopotamia in the sixth century BC, the Roman Empire, Italian city-states in the Middle Ages, or the Low Countries in the early modern era—had to coexist with other ways of organizing production. These alternatives included hunting and gathering, small-scale farming by free peasants, serfdom, and …