Since 2008, Wolf has issued warnings to capitalism such as “the dream of the global free market capitalism is shattered.” In his new works, he faced unstable food capitalism, weakened competition, sluggish productivity growth, Increasing levels of inequality and the deteriorating democracy have once again made a strong call to save capitalism. But in his opinion, the answer is not to overthrow the market economy, reverse globalization or stop technological change, but to reform capitalism. The reform plan given by him to save capitalism can basically be attributed to the promotion of active competition. According to Wolff, a limited liability company is a highly privileged entity, and its narrow focus on maximizing shareholder value has exacerbated various adverse effects. Therefore, it is hopeless to rely on regulation to protect us from short-sighted business practices, and new laws are needed to achieve the required changes.
It is the strict adherence of western constitutional elites to the theory of free market economy to discuss the issue of inequality in the distribution link. This alone fully shows that they have no intention to go beyond the logic of capital. The policy mix does not show the imagination of crossing the boundaries of the capitalist system. However, their criticism of reality is undoubtedly a systematic reveal of the current state of capitalist society. As Wolf said, “the current reality is that politicians can be bought by money. This is a system of wealthy rule, not democracy.” In terms of the relationship between economic reforms and political reforms, he prioritized political reforms. Status, because without political reform, changing the role of money in politics and the way the media operate, the reforms needed in other areas would not happen.
Historically, in the face of crises, capitalism has achieved turnaround from time to time, showing a certain capacity for self-improvement and institutional resilience. Regardless of the feasibility and effect of Western elite policy propositions and the future fate of capitalism, their revelation of the problems of capitalism provides another perspective for us to understand the profound changes in the current international situation. In a general sense, the current world power landscape is undergoing major and profound changes. As for the fact that China is on the rise, some people in the West have been in a state of entanglement that they are unwilling to accept. As Wolf said, “Americans and Westerners don’t want to admit that China is now a very powerful country, and they don’t want to admit that China can stand up to them.” However, Wolf’s reflection on capitalism tells us that the current international situation The profound changes are not limited to this. The changes in the world’s power structure also mean new changes in the strength of socialist and capitalist social systems. The West believes that China is changing the world in a way that Westerners don’t like. In our opinion, this way is a concept that can be correctly articulated in the framework of socialist discourse.
It has been nearly 30 years since the collapse of the Soviet Union. The globalization of capital has not only economic significance but also conceptual significance. At least from the Western world, few people seriously and seriously consider the proposition beyond capitalism. In this sense, the new round of realistic critique of capitalist elites by capitalism not only provides an opportunity for us to better understand the profound changes in the current international situation, but also gives us a conscious reminder to strengthen socialist consciousness.