I have some sympathy with his post, there is no doubt that the Meltdown has been a train wreck for hundreds of millions of quite worthy ordinary people right across the globe.
The problem is getting the old men and wide boys of the Plutarchy, bankers and so forth as well as mavericks like Murdoch and the Koch brothers and their counterparts in other key countries; also their ill-informed followers, that the brutality is unsustainable, unproductive and unnecessary.

...I applaud the author for his envisioning dream. Personally, I being the total cynic of capitalism, believe all who grasp its many tails will not allow structural changes suggested here: As the unimaginative Capitalist manipulators enter into a perpetual QE three, giving themselves time to rort the last dollar from workers (taxpayers) pockets.

...Another war and blame “Hitler” will be the traditional end game to the failed state, I believe! At the least we can look forward to our housing stock carpet bombed, enabling a restart to the nonsense of house prices.

Very insightful article. However, I believe the form of capitalism which will emerge as the most successful model; is the one that largely survived the Great Depression, intact, alive and well.
Namely, cooperative capitalism.
This form of learn capitalism carries no baggage and no unproductive parasites!
Every shareholder is either endeavouring earnestly, on the factory or shop floor; or the office, doing their utmost to ensure all the bottlenecks are opened up, all the drones seen off, profits maximised, losses minimised.
Reward or loss dependant on the number or shares you own.
The highest placed managing CEO never owning more than thirty multiples of the lowest of the low on the factory floor, or mopping out the toilets!
Employees hardly ever exceed 350 in total and maximise efficiency, rather than just sheer size!
Head office is usually home to just five or six very competent employees!
Always ready willing and able to listen to experienced factory or shop floor workers.
These enterprises simply can't get too big to fail, and as small compact and super efficient, have the best return on capital investments, are usually the most cost effective and efficient way of processing or manufacturing almost anything.
Some believe we can reinvent ourselves as a service economy?
Imagine if we all thought that and all became Dr's, Lawyers, teachers and accountants etc, all servicing each other?
Talk about talking unmitigated tripe!
The only way wealth is created; is if we or someone, grows and or makes things, which we/they can then sell to others who need them.
The next boom is likely to be a food boom driven by a huge and growing Asian middle class, all demanding more convenience, protein and variety in their diets?
Poisonous polystyrene and plastic wraps, will likely be replaced by edible rice cups/corn syrup/casein wraps etc?
Our clean green image if preserved rather than simply squandered at the altar of free trade, will serve us well in this foreseeable future!
But only if we have the future vision, to retain said clean green image!?
Rhrosty.

If Obama is the answer, god help us all.

I think you will find Everald, that this has already been promoted
around the globe, as third way politics.

http://en.wikipedia.org/wiki/Third_Way

People like Clinton, Blair and even Hawke and Keating could be
classified as such. The real danger to our political systems are
extremes on either side. Obama could be included as a third way
politician. The tea party is more like extreme right.

'His challenge in leading America through a period of change will be to bring the Congress with him on the journey.'

Well well, Everald you lost me right there.

Why? Well you see I recall the past. Obama had a congress (Both the Senate and The House of Reps) controlled by Nancy Pelosi and the Democrats for the first third of his term.

They then had an historic opportunity to pursue and enact Obama's policies, which haven't changed one iota, yet they fought with one another and changed nothing.

Now if Obama couldn't lead his own side down their advocated policy pathway then why the hell would you think he could possibly lead a partisan Congress anywhere.

I think given Romney's leadersip in his time of Governor of Massachusetts when the democrats had political control in that state indicates he's a greater prospect for bringing sides together.

Given that the industrial and developmental economic base of the US economy isn't terribly affected by the gfc then the US will still dominate how capitalism works. Little will change. The US economy isn't about cars, washing machines, tvs or fridges. It's about technology and creating and controlling the production of the means of creating wealth. Technology, Tools, Heavy Machinery, Aeroplanes, etc

Note those very few extrordinarily wealthy families who have most of the US wealth and who control that base were not overly affected by the gfc. US capitalism is their 'baby'. They 'own' the banks who make up the US Federal Reserve. They are not found 'on' Wall Street.

Remember how the Fed Res bailed out the banks? Yep the Fed Res. bailed out the wealthy at everyone elses expense.

Unless that group of people want change it won't occur. They will also benefit most from the rise of China.