The problem with neoliberal capitalism: It is no longer Schumpeterian, and has therefore become dependent on debt

Neoliberal capitalism, which emerged in the 1980s, is gradually losing its Schumpeterian character: technological progress is slowing, jobs are increasingly becoming low-skilled jobs in services, corporate concentration is increasing, etc. This loss of the Schumpeterian nature of capitalism has led to a loss of growth, which governments and central banks are trying to correct by increasing debt. This has led to a shift from Schumpeterian capitalism to capitalism based on debt and money creation.