‘Was Marx right after all?’ This is the question that Germany’s most widely read weekly magazine asks on the cover of its New Year edition.
Fear seems to have gripped the editorial office of Der Spiegel. Something is very wrong with capitalism. As they themselves explain, this fear is widely shared within the ruling class.
The article quotes Ray Dalio, a hedge fund manager worth $22bn, who believes ‘capitalism urgently needs to be fundamentally reformed. Otherwise it will perish, and deservedly so.’
The Financial Times is equally alarmed. Goldman Sachs and Bosch are cited among the corporate giants questioning the resilience of the market in the face of looming catastrophe (tinyurl.com/bm24yv5b).