With calls from conservative politicians to put the capitalist economy into some kind "induced coma", they call it hibernation, while we ride out this pandemic for who knows how long. Trillions are being spent world wide to keep capitalism alive, if only on life support. Capitalism in the past has narrowly survived Great Depressions and World Wars, but can it survive this catastrophe?

With the passing of the pandemic, are the ordinary people of the developed world willing to return to the old ways of doing things, while waiting for the capitalists economy to right itself in some indeterminate number of years. Are politicians like Morrison and Frydenberg, along with all of the other like minded leaders throughout the western world, who are giving a dame fine impersonation of Socialist, some would say even Communists, at the moment just kidding themselves to think at the end of all this the people are going to meekly accept a return to what failed them in a time of cries, Capitalism.

"Macquarie Group managing director and the group head of Asia Pacific, Viktor Shvets, has been warning clients that conventional capitalism is dead and that it will be replaced by some form of communism."

"According to Mr Shvets, there are only three possible outcomes. One is that central banks win; that an economic recovery allows them to withdraw their stimulus without collapsing asset prices like stocks and housing. Not much chance of that, he reckons."

"The second is that governments take over, pick up the slack in jobs and cooperate with each other to solve global poverty and inequality. Slim chance."

"The third is war. This, he argues, is the most likely and the least pleasant outcome."

http://www.abc.net.au/news/2020-04-06/is-capitalism-dying-or-just-in-isolation-coronavirus/12123874

Hi Paul,

There is one disease that has no cure - greed,
ensuring capitalism will survive

Foxy,

You beat me to the punch(line)!

But there is a bit more to it than just human nature. One needs to take into account sociohistorical structures of practice e.g. Christianity etc.

I won't say any more than that because I run the risk of upsetting The Forum's Old Farts Club members for being a Mr Smarty Pants and bringing up all of those Arts things like history, sociology, anthropology, archaeology, philosophy, etc., that they don't know anything about.

Capitalism is so loosely defined that the question is unanswerable in any meaningful way.
But I will point out that Shvets missed an obvious possibility: governments could decide to play a bigger role in their own economies, but neither greatly expanding international cooperation nor resorting to war.

Aidan, you said

"Capitalism is so loosely defined."

Since when?

I suspect at some stage in the not so distance future that with the collapse of most of the first world economies that another anti Christ anti people world Government will sieze power. The same dishonest overpopulation, killing the unborn, man made gw dishonesty will be part of their platform. It will be even more corrupt if possible than than UN and EU and will promise much but deliver misery and death. More than likely it will include China. Certainly socialism has produced the most greedy, most dishonest and biggest virtue signallers the world has seen. You can be sure that in the near future overpaid public servants, university professors and corporate elites will protect each others while many honest workers will go under. Thank God for anyone with any discernment can read the end of the book. Yep every anti Christ organisation will not survive but instead every knee will bow to the only name by which man can be saved. Keep your eyen on Israel is a good tip.