The Coming Phase of Capitalism: An Age of State Capitalism and Populism?

Chapter 15 invites theory-based and empirically founded speculation about the coming phase of capitalist development. Against this background, the chapter outlines the contours of state capitalism as a possible guiding model of a new mode of production as well as the various forms of populism as a political program to underpin this economic order. Although the establishment of an alternative world economic order is at an early stage of research, we can draw on a rich history of regulatory systems, compromises, conflicts, and failed attempts. The chapter is cautious about the possibility of radical political change, but against the backdrop of climate and justice considerations in the global order, this needs to be reflected more strongly by political economy. The chapter concludes with open questions on the historical-comparative analysis of capitalism.