The Narrowing of Capitalism


Capitalism can be properly appreciated only in a historical context. And we’re seeing a historic change in Western capitalism just now. This change, ironically enough, is very well illustrated by the stock trader’s pennant shown above, in which the trading range consistently narrows, then breaks out either up or down. And this change is not the mere pollution of crony capitalism. It is, in fact, structural.



Capitalism is changing. One way or another, it will take on a new form, and perhaps two primary forms.