Is capitalism dead?
The last few days have seen what could be construed as a concerted attack of capitalism around the world with all areas of society attacking the 'greed is good' business arena many people believe we live in today. Is capitalism dead? Are we entering a new phase of government controls?
To read the press and the media you could start to believe that the free market concept was dying, that capitalism is struggling, but in reality this will just be a short term blip. In a few years time the credit crunch will be history, we will have a new batch of consumers who want to spend, spend, spend and governments will be keen to grab as much tax as possible. The short term measures being introduced today are just that - short term fixes so that the authorities can argue they have done their bit.
Slowly but surely we will see the financial markets gaining the upper hand, governments keen to grow their local economies and the 'greed is good' factor returning to the business arena. The bottom line is that there are two elements which literally dictate the strength and future direction of any economy, fear and greed. The fear that there may be trouble ahead, resulting in companies for example pulling their money from the money markets, and greed, i.e. the ongoing pursuit of financial gain at whatever cost.
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