Three very difficult but essential trend reversals for capitalism

Neoliberal capitalism has now arrived at two impasses : the increasingly rejected rise in inequality; and climate change. Resolving these problems will require three trend reversals : A fall in the required return on equity, which is currently unreasonably high, to a level compatible with a fair income distribution (from 12% to around 6%); The destruction of unusable capital , if the climate commitments are to be met: fossil fuel power plants, factories that produce ICE vehicles, oil fields; The relocation of production back to OECD countries, even though their production costs are higher, in order to reindustrialise, create new intermediate jobs and improve the situation for the middle class. It is not at all certain that neoliberal capitalism will accept these developments by itself.