Natural Capitalism and its Degeneration

Today’s capitalism reflects a tragic reality: artificially oversized corporations; monetary systems designed for credit expansion; recurrent financial bailouts; state-financed armed conflicts; and selective subsidies granted to favored sectors. Rather than promote general prosperity, the prevailing order tends to secure recurrent benefits for a narrow group while transferring its costs to the rest of society. This is not an excess of capitalism but its degeneration: the inversion of an institutional order originally meant to coordinate knowledge, responsibility, and production.

Catherine Ruth Pakaluk

Catherine Ruth Pakaluk is an American economist and social philosopher at The Catholic University of America in Washi