Actually the issues go much deeper than the last few decades. In a sense, it goes back to, “go forth and multiply.”
The problem with capitalism is that markets need money to circulate, in order to function, but as goal oriented creatures, we treat it as the signal to extract from the noise of society and the economy. Necessitating ever more be added and ever more inventive ways to store what has been extracted.
For example, could the capital markets function, without the government siphoning off trillions in effectively surplus money every year? The secret sauce of capitalism is that public debt backs private wealth. Given the Federal Debt really started with the New Deal, Roosevelt was not only putting unemployed labor back to work, but unemployed capital, as well.
As the executive and regulatory function of society, government is analogous to the central nervous system. While money and finance, as the value circulation mechanism, is its blood, heart and arteries.
When private government reached the limits of its effectiveness, monarchy was discarded. Finance is now having its, “Let them eat cake.” moment.
Then again, we are linear, goal oriented creatures in a cyclical, reciprocal, feedback driven reality;
