In Europe there's an dangerous growth of ultra xenophobia which is pretty threatening to any one who remembers the history of Europe... and an attack on the remnants of the welfare state. It's hard to interpret the austerity-in-the-midst-of-recession policy as anything other than attack on the social contract.
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.
In fact, the capitalist class in the '50s was sort of part of a social contract. It was part of the tenor of the times.
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