De-industrialization & ‘gangster capitalism’: California prof on unraveling of social contract in US #环球时报 #GlobalTimes

De-industrialization & ‘gangster capitalism’: California prof on unraveling of social contract in US
The post-WWII contract in the US, where corporations exercised restraint in profitability and provided lifetime employment, dissolved. America once had to fight for hearts and minds to demonstrate that it was a better society than Soviet Union. However, the financialization of the US economy, along with de-industrialization and the fall of the Soviet Union, gave rise to an especially vicious form of capitalism—gangster capitalism—which has overseen the deterioration of workforce conditions: Catherine Liu, Professor of Film & Media Studies, University of California, Irvine (USA) #GlobalArena

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