Foreign Affairs. January-February 2020

January/February 2020 43

counted rates. An asset lock prevents the

land from being resold, which guaran-

tees that the homes will remain affordable.

Bottom-up experiments such as these

will be critical to the success of a new

economic model. For those experiments

to flourish, influential political figures

who identify with the socialist tradition—

people such as Alexandria Ocasio-Cortez

and Bernie Sanders in the United States

and Jeremy Corbyn in the United

Kingdom—should use their platforms to

draw attention to local-level activists and

organizations that are working to create a

more democratic economy. Meanwhile,

some degree of patience will be in order:

it will take time for such new thinking to

produce the large-scale changes neces-

sary. But such patience must also have a

limit: when it comes to fixing the

damage that neoliberalism has done,

time is running out.∂

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