Summary of “Can American capitalism survive? Steven Pearlstein on the perils of neoliberalism.”

Pearlstein’s new book, Can American Capitalism Survive?, chronicles the excesses of capitalism and shows how its ethical foundations have been shattered by a radical free market ideology – often referred to as “Neoliberalism.” Capitalism isn’t dead, Pearlstein argues, but it has to be saved from itself before it’s too late.
Steven Pearlstein The most obvious answer is that capitalism has left a lot of people behind in the last 30 years.
In the book, you imply that capitalism has gone off the rails, but I disagree.
The culture of norms and values that were supposed to check the excesses of capitalism has been eroded by capitalism itself, and now it’s propelled entirely by greed.
You seem to think that capitalism can be saved from itself.
Steven Pearlstein The question is, is all of that endemic to capitalism? I don’t think so, because we see different kinds of capitalism in countries in, say, Northern Europe and in Germany.
One of the good things about capitalism is that it has self-correcting mechanisms, just as democracy has self-correcting mechanisms.
If we lack the political will to fix the kind of capitalism we have, then there’s surely a higher political barrier to the full socialist model of national health insurance, free college for everybody, and guaranteed income for every individual, whether they work or not.

The orginal article.