metalblue
Well-Known Member
If I may be permitted to have a go at answering your questions, the more dysfunctional societies tend to be those within which extremes of economic inequality are tolerated, and the USA is an example. For the relevant research, see the bestselling publications of Richard Wilkinson and Kate Pickett.
Unfortunately, the neoliberal economic policies pursued by Thatcher, Reagan, Clinton, Blair and others, which are - to a greater or lesser degree - based on the macroeconomic theories of Hayek and Friedman, have exacerbated economic inequality, as noted by authors like Ha Joon Chang, Manfred Steger, and David Harvey.
So the solution is to regulate capitalism a little more, in order to avoid events like 2008 and the opening of fractures and fissures within our society that are illustrated by the current emphasis on divisive forms of identity politics.
As for a political system, I have to be more utopian here and suggest that a system known as deliberative democracy is preferable to the one that we have, as it is more empirically grounded and less open to manipulation by powerful interest groups. For more on that (and how it has been shown to work on a smaller scale), see Paul Verhaeghe’s Says Who? The Struggle for Authority in a Market Based Society.
Incidentally, the reason for the book references is because I was once required to teach a course from scratch that entailed looking at how ethical the macroeconomic systems of capitalism and socialism actually are.
After several years of extensive reading in the territory of recent economic history, in terms of my own perspective, I have ended up coming down on the side of a restrained form of capitalism.
However, I now refrain from voting as I do not consider the system we have to be fit for purpose. The only reason I would vote now is to prevent an extremist party from taking power. Unfortunately, the Republican Party at present seems to be heading in that direction and so if I lived in the USA, I would have voted for the Democrats.
Unfortunately regulation of process rather than outcome rarely brings the desired benefits especially when the measurement of adherence is self justification of process. The regulatory ends up fighting the next war based on the last war