Can you elaborate what the long-term prognosis is?

Capitalism is consensus. Even Europe, which experimented with soft forms of socialism in the 1960s-1980s, has settled back to various forms of capitalist welfare system with free markets, low business taxes, and reduced regulation. Tatcher, Reagan, Merkel, Clinton, Blair, Harper, Howard, Johnson-these people weren’t passing fads. They represent the consensus view of the most prosperous and successful societies in the planet.

I find it very difficult to care what privileged people from capitalist countries have to say about the problems of capitalism. There is a blueprint to prosperity. It involves free markets, property rights, individual freedom, respect for investors, the rule of law, and an abiding skepticism of radicalism or social upheaval. Countries like Japan, Singapore, Taiwan, Korea, etc., have followed that blueprint to prosperity within the lifetime of people who are around today. Countries like Bangladesh, where my family hails from, are seeing massive development by moving (imperfectly) in that direction. People like “Owen Jones” May be well intentioned, but in their nativity are a threat to the potential for a free and prosperous world.

We’re all on a boat. There are reasonable debates to be had about which way we should steer the boat or how fast to go. But the people espousing socialism (not like Macron welfare capitalist, but as contradistinguished from capitalism) are trying to poke holes in the boat.