Originally Posted by OhNoYouDidn't
Sounds like the right on here - the last two years weren't a failure of capitalism etc.
So I guess the US, Europe and everywhere else will revert to communism, in much the same way as the countries where failed communist revolutions occurred reverted to capitalism? Well, a few years into the crisis, it doesn't really look like it, does it?
I agree that we are witnessing a failure of capitalism, the way the banks have done their best to bankrupt us - but this is also a failure of the state. The regulators (in Ireland and elsewhere) are meant to prevent the banks from acting as they did. Governments are also meant to look out for the interests of the people - they didn't. The banks aren't a great advert for unrestrained capitalism, and the regulators and the ineptitude of the government aren't exactly shining examples of state management.
You'd almost think there was a sensible, proven middle path of tempered capitalism, wouldn't you?