Historian Sven Beckert argues that capitalism did not originate in Europe and spread outward. Its very existence from the start depended on planetary connections and co-production between many cultures, making it inherently global from its inception, not a Western invention.
Karl Marx's Communist Manifesto demands a state monopoly on money and credit. Since all modern economies use central banks to control the money supply, they are built on a Marxist principle. With money being half of every transaction, these economies are at best 50% capitalist and 50% Marxist.
Thriving civilizations first become masters of imitation, openly absorbing ideas and technologies from other cultures through trade and migration. This diverse pool of borrowed 'ingredients' becomes the foundation for true innovation, which is the novel combination of existing concepts.
China's economic ascent began when Deng Xiaoping invited American experts to teach them about capitalism. This strategy, combined with becoming the world's manufacturing hub, allowed them to learn the system, grow strong quietly, and eventually become a dominant global power.
Sir Ronald Cohen suggests that economic systems like communism fail because they suppress the natural human instinct to strive. The goal should not be to eliminate capitalism's encouragement of striving, but to evolve it by redirecting that powerful drive toward achieving both financial profit and positive societal impact.
Deng Xiaoping’s reforms, which ignited China’s growth, were based on adopting American free-market principles like private enterprise and foreign capital. China’s success stemmed from decentralizing its economy, the very system the U.S. is now tempted to abandon for a more centralized model.
Historian Sven Beckert frames capitalism as a constantly shape-shifting system. Its dramatic evolution over 1,000 years—from colonial models to Keynesianism—suggests the current neoliberal order is not a permanent state but will likely be replaced by a substantially different version.
The system often blamed as capitalism is distorted. True capitalism requires the risk of failure as a clearing mechanism. Today's system is closer to cronyism, where government interventions like bailouts and regulatory capture protect established players from failure.
Current instability is not unique to one country but part of a global pattern. This mirrors historical "crisis centuries" (like the 17th) where civil wars, plagues, and economic turmoil occurred simultaneously across different civilizations, driven by similar underlying variables.
Despite narratives of higher purpose, the bedrock of modern life is economic specialization. This system ensures survival and allows for hyper-specialization, which is why economic disruptions so easily unravel societal stability and lead to global conflict.
Globalism was highly successful, lifting millions from poverty. Its failure wasn't the concept itself, but the lack of strategic boundaries. By allowing critical supply chains (like microchips and steel) to move offshore for cost savings, nations sacrificed sovereignty and created vulnerabilities that are now causing a predictable backlash.