Let’s face it, young Americans are fed up with the economic status quo. If this fact is not evident enough from the groundswell of millennial support for Bernie Sanders, perhaps a Harvard University poll released Monday will do the trick.
According to the results [3], 51 percent of young adults aged 18-29 oppose capitalism in its current form. By contrast, only 42 percent of people drawn from a pool of 3,183 individuals—selected by KnowledgePanel, a probability-based database designed to be representative of the U.S. population—opted in favor of the global economic order.
Unfortunately however, like a broken-down car without an auto repair shop in sight, the results showed no consensus regarding an alternative solution. As George Monbiot pointed out recently in his attack [4] on neoliberalism, neither do any of the world’s economists.
“Neoliberalism’s triumph reflects … the failure of the left,” Monbiot wrote, explaining how the current system was already set in place when the previous Keynesian economic model collapsed in the 1970s. By contrast Monbiot pointed out, “when neoliberalism fell apart in 2008 there was nothing … The left and center have produced no new general framework of economic thought for 80 years.”