{
  "id": 11425873,
  "title": "Capitalism may be reinventing socialism — and probably not how you think",
  "url": "https://urgent.news/2026/10/02/capitalism-may-be-reinventing-socialism-and-probably-not-how-you-think",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T10:30:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/02/capitalism-may-be-reinventing-socialism-ai-quantum/"
  },
  "original_language": "en",
  "account": "Capitalism has been central to America's self-government for 250 years, bringing mass prosperity and reducing extreme deprivation. However, the institutions that once worked effectively may not continue to do so as technology advances. Economists rarely explicitly make clear that capitalism relies on cheap, enforceable property rights. The cost of enforcing private property may be about to increase significantly. The challenge is not whether technology can maintain property protection, but how expensive it will become. Artificial intelligence is changing the landscape of identity verification. The cost of creating convincing false identities is decreasing, as AI can mimic voices or faces, forge documents, and identify weaknesses in established identity systems. Researchers are grappling with the issue, proposing solutions like \"personhood credentials\" to prove human existence without revealing identity. However, quantum computing poses another threat. In 2025, the BIS Innovation Hub and central banks tested quantum-resistant cryptography, which worked but had a significant cost. Verifying signatures took seven times longer, and implementing the technology required system-wide changes. Decentralized ledgers may offer an alternative, but the theft of $1.5 billion by North Korean hackers from Bybit, a major cryptocurrency exchange, highlights the limitations of digital ledgers. Despite identifying the assets as stolen, institutions outside the ledger were needed to prevent conversion into traditional currencies. Economic theory suggests that pressure for centralization is likely, as a security failure at one institution can affect others, and verification has economies of scale. While decentralized technologies may improve, they may foster stronger coordination and larger institutions. Private property has always required collective enforcement, and capitalism needs courts, registries, and the state. The question is how much. The success of Singapore, with 75-80% state-owned land, demonstrates that central control over foundational assets can coexist with a successful market economy. However, scaling such a system to the United States, with its diverse population and global financial system, remains uncertain. As authentication becomes harder, preserving private property rights may require more resources and authority. This could lead to a very different form of capitalism, one that is more centralized and potentially intrusive. The challenge lies in finding the right balance between protecting property rights and maintaining efficiency and freedom in the market.",
  "summary": "The economics of private property could be changing massively from the dual forces of AI and quantum computing.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}