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An economist suggests that our current forms of capitalism have run aground, and socialism has been shown to have is flaws as well. Some even wonder about the future of democracy under our current forms of capitalism. This article explains how many of our current global problems have exposed flaws in the ideologies that underlie our various forms of capitalism. He proposes some changes that may be necessary so that capitalism may evolve into a system that is more adaptive to globalization and other changes that have occurred at a rapid pace in modern society.
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