Capitalism seems to have failed and is now stigmatized as greed. A reaction against individual excess is driving the world back to collective values. Fear of terror overrides rights; fear of slumps subverts free markets. Consumption levels and urbanization are simply unsustainable at recent rates in the face of environmental change. The throwaway society is headed for the trash heap. People who sense that “modernity” is ending proclaim a “postmodern age.

Author: Felipe Fernández-Armesto