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Interesting global survey the one published today by BBC on account of the anniversary of the fall of the Berlin Wall.
It shows that the world is divided between those that demand regulation and reforms for "free market" (an euphemism for Capitalism) and those that think that this system is a failure and something else is needed. The fraction that are happy with the economic system as it is are a minority everywhere, barely surpassing 20% in the hyper-Capitalist USA.
Among those more emphatic on a new system being necessary are the peoples of France, Mexico, and Brazil. Instead the nations among whom people mostly think that only reform is needed are Germany, USA, UK, Pakistan and Canada. But in all countries people is mostly unhappy with the system as it is now.
Another issue asked is whether the fall of the USSR was a good or bad thing. In this case, the dividing line is between the West (where nearly everybody believes it was a good thing) and the rest (where substantial numbers think it was something disgraceful). Egypt, Russia and Ukraine are the countries where there is more resentment for the fall of the USSR, while in Asia opinions are very divided.
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2 comments:
"It shows that the world is divided between those that demand regulation and reforms for 'free market' (an euphemism for Capitalism) and those that think that this system is a failure and something else is needed".
I find it amazing that economists still bleat on about the 'free market' and the benefits of 'competition'. The free market inevitably leads to monopolies. Even the economists' own propaganda tells them that. The expression 'survival of the fittest' comes from free market economics after all. Once the 'fittest' in any enterprise survives what are we left with? A monopoly. Something certainly needs to be done. But what?
Guess that's why the USA long ago passed anti-monopoly laws that allow for the state to forcibly divide the companies, helping to make the competitive persist for a little longer. This is ok in theory and within the system but I guess they have just forgotten of all it by now: Microsoft is a clear case of monopoly and seems to be above challenge.
I don't think they care anymore about the system's future and that by extension's is everybody's future too . They are just wildly amassing money without any plan.
Something certainly needs to be done. But what?
Simple: collectivize them and cap the wealth individuals can own. By force if need be.
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