The Rise of Third Wave Capitalism

The relationship between government and business became ever more intimate, and, correspondingly, the protections that the federal, state, and local governments offered the poor and the middle class began to fray.

Third Wave Capitalism is marked by apparent contradictions: Rapid growth in productivity and lagging wages; fabulous wealth for the 1 percent and the persistence of high levels of poverty; increases in the standard of living and increases in mental illness, personal misery, and political rage; the apotheosis of the individual and the deterioration of democracy; increases in life expectancy and out-of-control medical costs; an African American president and the incarceration of a large percentage of the black population.
Cover courtesy Cornell University Press