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Yeah the system as it is right now is basically set up that the only way anything changes is through some type of economic collapse. Personally I suspect that everything is set to fail in the US at this point but nothing has set off the powder keg.
The prior generations also war and geopolitical shifts that pushed Europe and America leftwards. Fascism devastated Europe and efforts were focused on dismantling and suppressing right wing elements. Additionally, you had the Soviet Union, which provided a counterbalance to Western capitalism, and many countries liberalized their governments for fears of communism taking over.
If China is able to carefully shift towards more traditional Marxist socialism, while preserving the integrity of their economy, they will become the new threat to the West, that once again turns the tide against the rightward shift towards fascism and ultracapitalism. We need a second surge towards communism in the world.
Maybe it's because I'm a redneck who is ideologically derived from Jeffersonian democracy rather than Marxism but I severely doubt any traditional Marxist structured power would work as a counter. I think that the capitalist powers basically got lucky with the World Wars and the great depression since they basically worked to pave over a lot of the woes of industrialization that were starting to hit around 1910, but it turns out killing an entire generation on the western front is great for reducing unemployment in the future, then the depression cleaned up a lot of chaff and made businesses a lot less reckless, and WW2 leveled much of Europes industrial base which while it sucked did create a lot of work and allowed them to rebuild from first basics.
What I think were seeing is the inevitable collapse of a globally financialized economy running into actual baseline economic issues that it simply can't address due to its financialized structure. Frankly even if the Soviets had survived as a viable counter it at most wouldve been delayed because the seeds of the crop we witnessed were planted with the fallout of Nixon and fucking Reagan.
Also just a bit of context but derivatives of Jeffersonian democracy generally have much less focus on the whole Yeoman farmer thing and shift it instead into localized economic structures, basically corporations bad local businesses and co-ops good.