ABSTRACT
Since the late 1970s, capitalism has experienced a regressive stage - neoliberal rentier-financier capitalism - and, since 2008, it has entered a terminal crisis. Capitalists have ceased to control the process of capital accumulation and innovation that used to legitimize them, and capitalism has stopped producing economic development and human progress. In its place, a new social organization is emerging that the author calls "democratic managerialism", in which the class of managers or technobureaucrats has regained strength and come to constitute the nucleus of the new dominant class coalition. At the same time, democracy has been facing authoritarian challenges well and it is possible to predict that it will deepen into democratic managerialism.
KEYWORDS
Capitalism; neoliberalism; managerialism; democracy; human progress