What is the Third Revolution?
- The world has been transformed for the better by two revolutions, capitalism and democracy.
- Democracy was expected to abolish capitalism. It nearly did.
- Today, both capitalism and democracy continue to expand their power. They coexist uneasily. Capitalism and democracy share many attributes, but capitalism continues to have a dark side that can only be extirpated by democratic reform.
- All the left’s attempts to reform or replace-capitalism have failed, because their intellectual premises were wrong. The intentions, however, were and remain valid. The intellectual bankruptcy of socialism and social democracy has created a void.
- A breakthrough is possible only by fusing capitalism and democracy. Democracy must embrace the market mechanism in a totally new way in order to abolish capitalism as we know it, to democratize capitalism.
- This third revolution can unite and give moral purpose to developed societies and, within the next century, banish war, hunger and oppression from the face of the earth.