It’s Not Late-Stage Capitalism. It’s Late-Stage Fiat

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We’re not within the throes of late-stage capitalism; we’re dwelling via the late phases and the dying rattle of the post-1971 fiat system. Mistaking the 2 (and basing options or insurance policies on this error) is a recipe for counterproductive interventions and missed alternatives.

By no means in my life have I felt a extra urgent sense that we’re approaching the top of one thing; that, to paraphrase William Butler Yeats, the metaphorical heart cannot and is not holding. I believe this sensation of approaching finality, of historic transition and of fraying order has saturated and knowledgeable our politics as properly.





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