Capitalism is dead! Long live Capitalism!

February 2001

George Soros, doyen of the financial markets, billionaire turned market reformer says that  Capitalism has deep flaws.  Meetings of institutions such as The World Trade Organisation and the World Economic Federation are attracting violent riots and participants require police protection.  Multi-National Corporations are becoming the new target of ‘civil society’ and

Globalisation is turning into a dirty word.

What’s going on?  Is Capitalism doomed and if so, what’s the alternative?

Protestors and critics increasingly point to four key crises now facing the world, which they blame on unrestrained free market capitalism and the Globalisation movement:-

• The increasing gap between rich and poor – both within countries and between countries.

• The environmental destruction and unsustainable exploitation of the world’s resources – the effects of which are now being felt through climate changes.

• The changing nature of the work contract resulting in frequent periods of unemployment caused by corporat…