The short answer is: “Who knows?”
The longer answer is “probably not,” simply because we have such a mess coming down the road in terms of climate change, resource exhaustion, imperial collapse, and so on.
But the answer isn’t “No.”
The answer is that it is possible. Not likely, but not so unlikely as to be a write off not worthy of consideration.
Far better systems can be thought up, I believe. I believe it’s even possible those systems would work with human nature well enough to be viable (a.k.a., are not utopian, in the impossible sense).
I also think they are our best alternative.
Wait? What?
Yeah. I think the odds are less than even that we pull it off, but I also think it is our best chance. Sometimes the best bet you’ve got just isn’t a very good bet. We either fix the way our economic system works (how we turn resources into goods and services) and our political system works (how we make group choices) or we could go extinct. Better case scenarios involve billions of deaths and amazing amounts of suffering.
Of course, dividing the problem in two is wrong. Capitalism isn’t “just” an economic system. The great mistake of the social sciences was changing from “political economics” to “economics.” Capitalism is a political choice, but it’s also how we make most of our group choices.
The right is right. Ideas matter, and the ideas on the ground during a crisis are important. We’ve got a lot of crises ahead of us. That is bad, but it is also our hope. Setting up to win those crisis points is what matters. The neoliberals won the last one (the financial crisis), but no one wins them all.
It would be good if we had some radical options on the floor which would also make most of humanity better off, provide for freedom, and so on.
So figure out what you want to replace capitalism (or how it can be radically fixed); and do look seriously at the political system. Democracy is not going to be immune from the fallout (nor is the sort of one-party state China runs.)
We can create a better world, but that doesn’t mean we will. It’s up to us, to humanity, in the largest sense.
If you enjoyed this article, and want me to write more, please DONATE or SUBSCRIBE.