Pluralistic: Economic probabilities for our grandchildren (03 Oct 2026)

Blog · Watch/Read · (gathered 2026-10-05)

• The current era of oligarchic misrule and the climate emergency is driving society towards a “breaking point” akin to historical periods of capital destruction, which, while devastating, presents a unique opportunity to build a more equitable and sustainable “post-oligarch, post-American world.”
• Drawing on Thomas Piketty’s analysis of wealth concentration and the post-WWII “peace dividend,” Doctorow argues that the destruction of oligarchic wealth can free up industrial capacity and political will to address “fiscal debt” (unbuilt infrastructure, climate action) and achieve a “second peace-dividend prosperity.”
• This breaking point is evidenced by immediate climate shocks (e.g., California’s projected 12-inch sea-level rise, “Super El Nino”) and the “rupture” of the American-led global system, necessitating new solutions for currency, energy, and the internet.
• Despite the terrifying present, society must actively seize the opportunity to rebuild essential infrastructure and systems of care, diverting resources from destructive activities to create full, meaningful employment and a world of material abundance, rather than allowing continued oligarchic misallocation.