Is this an inflection point, just like 1989?

RASHMEE ROSHAN LALL November 15, 2019

In 1989, the Berlin Wall fell. A couple of years later, the Soviet Union collapsed. Soviet-style communism ended as well. (What survived in West Bengal, Kerala, not to speak of China and North Korea is not communism.)

Now, consider 2019. A growing number of Americans say they support some form of socialism. And Chile has just announced a referendum to replace its dictatorship-era constitution, which espoused all too well the free market lessons exported by the United States.

And in country after country there is a sense that capitalism isn’t working too well, that the market cannot be allowed to have its head without state regulation, and that some social protections are essential for people to feel – and to be – safe and looked after.

Is this 1989 turned on its head?