Capitalism in Need of Reinvention
Martin Wolf, The Financial Times | November 12, 2009
Two decades after the fall of the Berlin Wall, with many former communist as well as capitalist states in crisis, capitalism needs to be reinvented. ++ The failure does not lie with the system, but with "defects in the world's financial and monetary system." ++ Though big efforts have been made to rescue the crisis-hit countries, further reform and substantial rebalancing of global demand are required. ++ The greatest virtue of liberal democracies and market economies lies in their ability to adapt. ++ "We must now learn the lessons of the 2000s."
Tags: | liberal democracies |
Capitalism |
