Eric Hobsbawm: Socialism has failed. Now capitalism is bankrupt. So what comes next?

Whatever ideological logo we adopt, the shift from free market to public action needs to be bigger than politicians grasp

The 20th century is well behind us, but we have not yet learned to live in the 21st, or at least to think in a way that fits it. That should not be as difficult as it seems, because the basic idea that dominated economics and politics in the last century has patently disappeared down the plughole of history. This was the way of thinking about modern industrial economies...