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G20: Who’s really violent?
(Email from Don Weitz) The so-called “violence” of some protesters in the streets of London during the current ‘G20 conference’ is nothing compared to the global economic violence and crises perpetrated by the London and Wall Street bankers and Madoffs who have destroyed and still destroying the lives of hundreds of millions -we are witnessing the long overdue death of capitalism.
Matthew Brett is the Canadian Dimension weblog manager. The views expressed on this blog do not necessarily represent his own. Read more by Matthew Brett.
Perhaps, in its recent incarnation, but socialism died long before. Expect a resurrection of capitalism since economic growth is impossible under any other system—and growth is most definitely the goal in a deflationary environment.
Actually, the institutions of capitalism are only dormant while governments repair bank balance sheets and maintain a modicum of consumer demand through fiscal stimulus. In fact, governments haven’t nationalized banks, they’ve invested in them and might even realize a profit on currently frozen assets.
Expect a return to complete market economics—private capital leveraged on the basis of risk in pursuit of profit—by mid-2010 at the latest.
Meanwhile, socialists can always dream.
#1. Posted by Blue on April 2nd 2009 at 6:23am