Is capitalism working? A question as old as, well, capitalism.
At the upcoming Davos conference, global financial thinkers will discuss a range of different issues from cybersecurity to the future of capitalism. A recent CNBC article asks: Does a week of wonkish debate have any impact in an age of the Internet and economic discontent?
Whether or not policy debates contribute real solutions to the real problems facing policymakers, the financial crisis has resulted in much questioning of the very models on which our economies are structured.
The Christian Science Monitor recently questioned whether “capitalism has failed us” and former Treasury Secretary Larry Summers recently posed a similar question – Why isn’t capitalism working? – in a column.
The examination, however, of capitalism’s effectiveness as a economic model are not new.
Robert Samuelson examined capitalism’s track record in a 2001 article in Foreign Affairs. The question is not new – as demonstrated by this April 1980 Time magazine.