Some incisive comments from Satyajit Das in a new review of the book Capitalism 4.0, which is about a new age of capitalism we are allegedly headed towards that is somehow different from the current mess around us.
Capitalism 4.0 is founded on the bedrock of Joseph Schumpeter’s idea of “creative destruction”. It also sounds ominously like the mixed economy nostrums that all political persuasions have embraced with slight and minor variations in the post World War 2 era. Unfortunately, most people like the creative part of Schumpeter’s formulation, rather than the second less joyful part of the aphorism. Everyone also agrees on a mixed economy, provided that in the mix they are left to make money without interference in good times and bailed out in others.