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The future of design in a transitioning economy
Society is undergoing a significant transition, moving away from liberal capitalism towards a new economic regime. This shift, termed "Capitalism of Finitude," is driven by geopolitical dynamics and climate change. Liberal capitalism, characterized by market economy, competition, and free trade, is giving way to a system where state power and monopolies are reasserting themselves. This new era sees a resurgence of mercantile capitalism, where merchants and companies wield significant political and economic influence, mirroring historical patterns.We are witnessing a re-imperialization of great powers and increasing limitations on freedom of trade at sea, a critical component of global consumption. Merchants are becoming prominent political actors through control of debt, logistics, and media. The militarization of enterprise, including private military companies, signifies a shift where war is increasingly tied to industrial capacity. Shipping giants are operating under state pressure, and multinational corporations face challenges regarding allegiance due to opaque structures.Technology companies are exhibiting sovereign attributes, controlling territories like space and digital platforms. This divergence in capitalist blocs sees exporters of branded goods favoring free trade, while defense and logistics align with mercantilist principles. The rise of monopoly capitalism makes nationalization and unionization increasingly relevant again. Political landscapes are changing, with the decline of neoliberalism and the rise of mercantilist ideologies, particularly in some far-right parties. The influence of billionaires, who own media and engage in political actions, is a hallmark of this new mercantile era. Climate change acts as a catalyst, exacerbating social and resource pressures and accelerating this transition. Designers, whose practices have historically served liberal capitalism, must now adapt to this evolving economic and political landscape.