The era of neoliberal capitalism is already a dead parrot

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Ian McWhirter, the political editor of the Scottish Herald, which is not a left wing paper, wrote an excellent attack on neoliberalism in that paper yesterday.

He started from the premise that corruption in RBS was clear indication of the failing of that system of capitalism and went on to attack it more generally, before concluding:

The beneficiaries of this kleptocratic capitalism are hiding in plain sight. And I believe their time is nearly up. In the 19th century, plutocrats could protect their wealth behind laws largely drawn up for the benefit of the wealthy. The poor had no lawyers. But today the poor have the vote, and lawyers, and there is no way this kind of structural inequality can survive in the 21st century, short of the extinction of popular democracy. Eventually, people will vote for change: for a society in which wealth is spread more equitably, and in which public services are run in the interest of the people who pay for them.

I don't know if Jeremy Corbyn is going to be the agent of this change; I suspect he is too old. But behind lies an entire generation of educated young people who have no stake in the system as it stands. Their parents accepted regulated, post-war capitalism because it offered them secure jobs, pensions, cheap houses, free higher education. Millennials have seen all that swept away as corporate capitalism's thirst for profit became insatiable. They will be the grave-diggers of the system, and while it may take a decade or so to be buried, this era of capitalism is already a dead parrot.

But it has yet to fall off its perch.

The final push is needed.