History Hasn’t Ended: the Struggle between Markets and Governments Resumes

In 1992, Francis Fukuyama offered the optimistic forecast that the “end of history” was impending. His thesis was that the collapse of Soviet communism and the pervasive and demonstrated failures of centrally-planned, command economies had led to universal acceptance of market-based, capitalist democracies. So, he contended, the Manichean struggle between them, which dominated the history of the twentieth century, was at an end.