Who’s Afraid of Socialism? | Open Media Boston "Capitalism’s incompatibility with majority interests has been reaffirmed by the current economic crisis. "Earlier, the most severe effects of capitalism had been offset, within the US, by the progressive reforms of the 1930s. "But capital’s political power was less restrained in this country than it was in the other rich countries. "Flush with military might and bolstered by a mass right-wing culture of arrogant self-righteousness, US capital launched a withering counterattack against the New Deal legacy, culminating in an almost three-decade orgy of anti-welfare legislation, imperialist aggression, privatization, and deregulation." Unrestrained profit maximization results in concentrating an enormous amount of surplus capital which can find few safe investments. "Free market" capitalists turn to highly speculative scams which generate financial bubbles as the real economy continues to be hollowed out and the working class is driven deeper into debt. Socialism would turn to government for an alternative, but US government is Goldman Sachs regardless of which major party is in control.