Posted on 05/20/2010 11:29:06 AM PDT by EBH
The free market principles increasingly popular around the world over the last 40 years are suddenly less so. “We're seeing the end of a global free market,” says Ian Bremmer president of the political consulting firm, Eurasia Group. “In the west, it's indefensible to support the free markets publicly,” says the author of the The End of the Free Market.
Thanks to the financial crisis, high unemployment and a growing gap between the rich and poor, support for capitalism is waning while renewed populism takes hold. "You can't support open borders, open trade with 17.2% unemployment in the United States," he says, citing the recent illegal immigration law in Arizona as an example.
(Excerpt) Read more at finance.yahoo.com ...
We are changing from a Free Market to a Global ‘Public Market’. Similar to the old USSR. It will be the new Dark Ages. Eat, Drink, and be merry.
This fool is one reason why free markets are in trouble - he equates open borders to open markets.
You just knew that when governments and socialism fail they would blame it on freedom and capitalism.
BTW, What free markets?
Open borders do not equal free markets. Things will get worse but the idiots watching TV keep the elites in power.
The problem is that governments make laws and their media lie and blame it on others.
Interesting concept. I'd not thought of it in those terms before.
It should be clear to everyone that we have had a mixed economy for many decades. I think it goes back to Woodrow Wilson, but without question it was in place during FDR's New Deal.
So, a mixed economy contains elements of private enterprise, and elements of government intervention in the economy. Here we are in the 21st century, and we look at how our economy functions and we come to the conclusion: "This isn't working".
So far, so good.
As we abandon the mixed economy, we must choose -- MORE private enterprise or MORE government intervention?
The quick and easy assumption being pushed by the MSM is that the private enterprise part of the equation is the part that failed. The socialist part of the economy is the one which is full of bright promise for the future. I ask: Since when??
The folks calling for more government intervention aren't trying to fix anything. They just want more power and control over the peasants.
Globalism, free trade, internationalism, amnesty is supported by GOP and Dems, and some of the issues even has support amongst conservatives (globalism and free trade). Finally someone in the media gets it and writes a book about it. The only thing I disagree is the term Free Market. America wants free markets, but rejects unsupervised capitalism where regulators refuse to enforce existing rules or let private industries create products that make existing government supervision nonexistant. Americans have lost faith in any group (private or political) that are a minority in society but have accumulated intellectual or financial power to influence the politicians in our governement for special treatment from the government at the expense of Main Street Americans. In other words, Americans reject capitalism (term coined by Karl Marx that accurately describes greed and power of the rich) but really wants free market (business conducted with financial discipline and civic moral constraint). Example will be an investor who wants to make money in a town. One opens a 7-11 store and the other opens a porn shop. Both are legal, and both can make tons of money, but one owner practices free market and the other practices capitalism.
On the contrary, a truly free global market would solve this problem. Capital would flow to where it could produce the biggest return, unencumbered by regulations and Government interference, and we’d see a rebound in the standard of living for everyone.
Government interference in the market got us in this mess; getting Government out will solve it.
He’s just pimping for his (well-known) consulting firm, which stands to benefit from lucrative contracts with financial institutions, multinational corporations, and government agencies.
“It will be the new Dark Ages.”
My first thought, too. It’s ironic that the Information Age may have introduced the Second Stone Age.
Maybe an Asteroid will hit Washington.
But the spin is making it look like it failed.
What actually happened was they have been using Keyesnian economics for the past 2.5 years.
That is what has failed and is triggering the crash.
If we had not continued to meddle with the markets, banks, companies etc. We would have had a hard, fast fall and be in real recovery by now.
No one can conduct real business right now, everything is too unstable from the energy sector to health-care to insurance to financial.... No one knows or understands what the government(s) are cooking up and that scares the h*ll out of business and investors. Instead of stabilizing the economy they are turning everything on its head!
says the author of the The End of the Free Market.
Sheeesh....don’t we know a Book Publicity Tour when we see one anymore?
When did it start? Laying down while the rest of the world protects its markets is not “Free Trade”.
The anti-globalists (AKA leftist scum) may get what they wished for. It won’t be pretty.
Exactly!
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