Capitalism – Gordon notes in this blog post, based on data – has produced the greatest rise in human well-being ever. Since the 80s, especially in the USA, based on the same data (the post abounds in fascinating graphs), things seem to have gone awry.
Gordon suggests that the benefits of a free market economy accrue most richly in conditions of decentralisation, since the 80s the conditions have favoured intense centralisation – of control, capital and money. The data shows spiralling wealth for those in the centre of the concentration, stagnating wealth for those on the periphery.
Lots to engage with – graphs, videos and links.