The big change, the really radical change in communication, was in the late 19th century. The shift from sailing ships to telegraph is astronomical. Everything since then has been small increments, including the internet. So you don't have to wait for a letter to get to England in six weeks, you have almost instant communication. That was an enormous shift.

The old-fashioned idea is that responsibility falls upon those who borrow and lend. Money was not borrowed by campesinos, assembly plant workers, or slum-dwellers. The mass of the population gained little from borrowing, indeed often suffered grievously from its effects.

Colorless green ideas sleep furiously.

In fact, some leaders come right out and say it. Mario Draghi the president of the European Central Bank had an interview with the Wall St Journal in which he said the social contract's dead; we finally got rid of it.

For example, the insurance industries and the big banks are absolutely euphoric now - on the business pages they don't even conceal it - because they've succeeded in coming out of the crisis even stronger than they were before, and in a better position to lay the basis for the next crisis. But they don't care, because they'll get bailed out again. That's class consciousness with a vengeance.

...the mass media. What are they? They're huge corporations, massive corporations, linked up with even bigger corporations. They sell audiences to other businesses, namely advertisers. So when you turn on the television set, CBS doesn't make any money. They make money from the advertisers. You're the product that they're selling, and the same is true of the daily newspaper. They're huge corporations, selling audiences, potential consumers, to other businesses, all linked up closely to the government, especially the big media. What picture of the world do you expect them to present?

What is failure for some is success for others. It depends on where they stand in the struggles over "democratic governance" and related rights - civil, social and economic, and broadly cultural, to adopt the framework of the Universal Declaration that is formally endorsed but constantly undermined.