Showing posts with label markets. Show all posts
Showing posts with label markets. Show all posts

Saturday, 10 December 2011

Capitalism in question?

As we wait for the final instalment of our series on the Crisis of the Corporation, after which we'll move on to discuss the Recovery of the Guilds, here is a general comment on the broader "crisis of capitalism", so called. Two big topics will be left out, for the moment – the environment, and Europe – to be addressed later.

In capitalism the pursuit of self-interest is supposed to work for the greatest common good. It hasn't. Maybe it was always just too simplistic an idea. George Soros makes some sensible points about the fallibility of the economic system we have created. He argues that