For over a century, liberals and radicals have seen the possibility of change in capitalist systems from one of two perspectives: the reform tradition assumes that corporate institutions remain central to the system but believes that regulatory policies can contain, modify, and control corporations and their political allies. The revolutionary tradition assumes that change can come about only if corporate institutions are eliminated or transcended during an acute crisis, usually but not always by violence.
But what happens if a system neither reforms nor collapses in crisis?
Quietly, a different kind of progressive change is emerging, one that involves a transformation in institutional structures and power, a process one could call "evolutionary reconstruction." [...]