A timely contribution to this from veteran Marxist Eric Hobsbawm in today's Guardian Socialism has failed. Now capitalism is bankrupt. So what comes next?

"...The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the "capabilities" of all through collective action. But that means, it must mean, public non-profit initiative, even if only in redistributing private accumulation. Public decisions aimed at collective social improvement from which all human lives should gain...."