Is Capitalism Dead?
The common man has lost confidence in the financial system. The bailout package does not address this issue. Added to this are the doubts about the political leadership. There is a total mistrust of the axis of the powerful and the rich. Actually the greed and recklessness of this foolish axis is what has brought the world to this present situation.
Adding more pessimism to this scenario are the signs which indicate that US economy is getting worse and is showing no signs of improving. I feel the situation is now out of bounds for the private enterprises to correct. It has to be government intervention at all stages and in all countries.
The bailout has also brought in the dissatisfaction of the tax payers whose money is now being used for a purpose which they do not agree. All said and done people have started saying that some years back the tax money was used to fund the dreams of a few greedy corporations which led to the Iraq war. Now, it is used to fund the misadventures of the Wall Street smarts!!!!
With this massive bailout and the previous misuse of tax payers money, some and including myself feel that US has no moral authority to represent itself as the leader of free market economy and capitalism.
But now what next? Is the Chinese model good for stability OR is the Indian model which made the country first self sufficient in food and then embarked upon opening of the markets and modernization good.
I look forward to hearing from you on the following -
1.Is US no more the leader of Free Market Economy and Capitalism?
2.Is it that Capitalism has reached it`s limits and no society can bear so much of freedom?
3.Will the bailout package fix the present troubles and help society to trust the financial institutions and the political leadership?
4.Should US take some chapters from the models adopted by India and China?
I look forward to your views.
Comments