ABSTRACT
Capitalism is dying. It will not, however, disappear on a given day, or in a given month or even year. Its demise will take place as a historic process that could lead to democratic socialism—or to a new kind of collectivist and authoritarian society. The way capitalism ends defines the terrain on which socialism becomes possible. Through a political process, the society would consider its basic options. Put in American terms, the Administration would outline the needs of the next period and the resources available to meet them. Since the latter would not be infinite, there would have to be proposed “trade-offs.” A crash program for the improvement of health might limit the growth of education; the decision to take the benefits of increased productivity in the form of more leisure time would mean that the same productivity could not be spent on more consumer goods.
