It seemed reasonable to liberate the capital constraints in the 80's. It seemed, I guess, reasonable to deregulate the financial markets in the 90's and 2000's - and to disregard the public investment part of the Keynesian economics. So, what we have had since then is bubbles, finance crises, instability and the capital ever gaining on work. And national radicalism, racism and unreason continuously rising in the West. The welfare state is largely the only thing that has kept us from the 1930's and the political and economic elites are pressuring to dismantle ever increasing parts of it.
Unconstrained economic liberalism is the breach in the wall of the modern Western system of society, liberal and rational: it has opened the gates. This era of obscene opulence and increasing middle and lower middle class distress is inciting the masses towards xenophobia and anti-liberalism. This will obviously not be good for capital, but their perspective is for the next quarter and everything seems ever so clear and promising, and so will the next quarter and the one after that etc. But history happens on the long term and the clouds are darkening on the horizon.
