Who Wants to Save Capitalism?
Free-market thinkers are increasingly embracing radical-sounding ideas to shore up capitalism.
The ideological framework undergirding capitalism is shifting. Since the 2008 financial collapse and the convulsions of the Great Recession, the free-market smart set has been working overtime to cope with increasing criticism of capitalism.
At publications like Reason and blogs like Bleeding Heart Libertarians, writers on the Right are embracing policies they might be more expected to denounce. Some are even responding by retrofitting seemingly anticapitalist analyses and designs to malfunctioning capitalist machinery in an attempt to work through capitalism’s growing legitimacy crisis.
So how do these attempts to shore up capitalism overlap with and differ from anticapitalist perspectives? Let’s begin with Milton Friedman’s heirs.