Long live capitalism
- October 25, 2008
- History, News, Politics
- Leave a Comment
There seems to be a lot of debate on the Interwebs these days about whether good-ol’ American free-market capitalism is still alive.
First the Washington Post declared it dead on October 10th:
The worst financial crisis since the Great Depression is claiming another casualty: American-style capitalism. …
“People around the world once admired us for our economy, and we told them if you wanted to be like us, here’s what you have to do — hand over power to the market,” said Joseph Stiglitz, the Nobel Prize-winning economist at Columbia University. “The point now is that no one has respect for that kind of model anymore given this crisis. And of course it raises questions about our credibility. Everyone feels they are suffering now because of us.”












