Corbyn’s pragmatic democratic socialism will save capitalism from itself

Road To Somewhere Else

By Daniel Margrain

Image result for picture of nick hanauer

“Inequality and the rise of a super rich elite is undermining the foundations of capitalism. The trappings of capitalism could be swept away by the pitchfork of revolution unless capitalism is fundamentally re-imagined”, so says American venture capitalist Nick Hanauer,

In a BBC interview with journalist Stephen Sakur in front of a live audience as part of the Hard Talk series of programmes (since removed from the BBCs i player service), one of America’s wealthiest individuals argues that capitalism, as currently configured, is not working. The thing that is said to drive Hanauer on is status not money:

“I’m not driven by money but by the need to be king of the hill. If capitalism doesn’t change fundamentally, it will destroy itself. If you allow wealth to concentrate in fewer and fewer hands over time, in the end it cannot be good for anybody, particularly people like me”…

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