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The Locust and the BeePredators and Creators in Capitalism's Future$
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Geoff Mulgan

Print publication date: 2015

Print ISBN-13: 9780691165745

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691165745.001.0001

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The Nature of Change

The Nature of Change

How One System Becomes Another

(p.116) Chapter 7 The Nature of Change
The Locust and the Bee

Geoff Mulgan

Princeton University Press

This chapter provides a theoretical framework for understanding how capitalism might evolve. No one can easily design and then legislate an entirely new kind of economy. Nor can anyone simply assert different principles and hope that they will become real. Fundamental change occurs only when existing systems are seen to have failed, including by their own standards. Often that happens because of dynamics within the system. Many have analyzed the ways in which capitalism might be its own gravedigger, some disproven by history, others vindicated by it. Capitalism's success creates the conditions for change: forecasters predict a trebling of the size of the world economy and a doubling even in the old economies of Europe and the United States by 2050.

Keywords:   capitalism, economy, world economy, old economies, Europe, United States

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