There is an interesting piece in today's Guardian by Eric Hobsbawm on how capitalism has failed - and socialism in his view found wanting. Which isn't to say that the collective ideal is not the way forard. I found it raised some very pertinent points
http://www.guardian.co.uk/commentisfree/2009/apr/10/financial-crisis-capitalism-socialism-alternatives
Friday, 10 April 2009
CONSIDERING OUR OPTIONS....
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I wrote up some of my own thoughts on Hobsbawm's article: http://thoughcowardsflinch.com/?p=599
"how capitalism has failed"
It hasn't failed. The governments who were supposed to lay down and enforce corporate and banking regulations failed. Capitalism *succeeded* in correcting a situation which governments were too 'frit' (to quote a famous word!) to do anything about. You will notice that in totalitarian state-run societies no corrections are ever permitted for generations but in the end truth, or at least, reality, will out. See: Soviet Union, passim.
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