Greece anti-austerity protest Andreas Solaro/Getty Images

When Things Fall Apart

Democratic capitalism is an evolving system that responds to crises by radically transforming both economic relations and political institutions. The time for a new phase has come, regardless of whether "responsible" politicians are prepared to admit it.

LONDON – All over the world today, there is a sense of the end of an era, a deep foreboding about the disintegration of previously stable societies. In the immortal lines of W.B. Yeats’s great poem, “The Second Coming”:

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