What you see is not what is there: let me explain. What is happening in the world right now isn't the death of capitalism, but something more complex and nuanced.

First, capitalism isn't dying, it just moved to somewhere else: the rest of the world. People are desperate for the material comforts and opportunities many in the west take for granted. And they are working very hard to get them.

Secondly, what has tipped the US and UK capitalist systems into tilt, is not too much capitalism, but too much distorting of markets to meet certain goals. A good example is the missuse of the housing market and credit to achieve social goals. By lending to people too poor to really afford a house, the entire global economic system has been put into jeopardy. Equally, by unleashing too loose credit and too low interest rates, with the goal of putting consumer goods into more hands, the system is now vomitting debt.

What is needed is more real capitalism: no more government bail outs for greedy investors, lots more of innovation, entrepreneurship and hard work. And yes, we should respect the environment because we only have one planet. Those measures would put capitalism back in rude health and better synchronise the west with the rest.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

Capitalism has never been about "Free Markets" and "Free Trade." From Day One both markets and trade have been greatly manipulated.

[« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]