I’m writing on December 20, 2016. Yesterday an uncouth, unqualified, narcissistic, dangerous, unbalanced, demagogic, scary billionaire was rubber stamped as President by the Electoral College. His Democratic Party nominee opponent had been placed in nomination by a wealthy cabal of power brokers who manipulated the levers of Party power to deny Sanders the nomination as the clear choice of the 99%.
Neither form of capitalism discussed in this article is capable of evolving into an equitable distributor of the GDP. Both forms inevitably result in gross maldistribution. This is a fact that very few are aware of. I don’t believe the Democratic Party base is aware of it. We can’t hope to succeed in counterhegemony until we reject presently dominant Milton Friedman economics and embrace Michael Hudson’s views. We all need to study, discuss, and embrace Hudson’s macroeconomic model. His books, Killing the Host, Finance Capitalism and its Discontents, and J is for Junk Economics are key to the direction counterhegemony must take if there is to be hope for success.