The only possible output of low social capital is rising inequality. One of the themes I’ve been addressing since 2008 is the neocolonial-plantation structure of the U. S. economy. The old models of colonial exploitation that optimized plantations worked by cheap imported labor (or situated in peripheral nations with plenty of cheap labor) have, beneath the surface, been adapted to advanced capitalist democracies. *** The adaptations have been so successful that not only do we not even recognize the Plantation structure–we love our servitude within it.
This post was published at Charles Hugh Smith on THURSDAY, FEBRUARY 09, 2017.
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