By: Carl M. Cannon
Let’s start at the beginning, Joel. In talking about your new book, “The Coming of Neo-Feudalism: A Warning to the Global Middle Class,” do you literally fear that liberal capitalism is losing out to economic “feudalism”? And please put that word feudalism in a modern context for our readers.
The parallels are striking. In the long centuries after the feudal era — let’s say starting around 1200 ACE — there was a slow, but gradual rise of upward mobility and growing power to the middle class. In the 20th century this progress was extended to the working class. Despite its many crises, liberal capitalism provided a better way of life and higher expectations not only for Americans, but also Europeans, Japanese, east Asians, including China, Canada, Australia and even some developing countries. Read more