Monday, November 09, 2009

People have negative view of free-market capitalism

Interesting Globescan poll survey here about how people in many different countries view free market capitalism:

Twenty years on, this new global poll suggests confidence in free markets has taken heavy blows from the past 12 months of financial and economic crisis.

More than 29,000 people in 27 countries were questioned.

In only two countries, the United States and Pakistan, did more than one in five people feel that capitalism works well as it stands.

Almost a quarter - 23% of those who responded - feel it is fatally flawed. That is the view of 43% in France, 38% in Mexico and 35% in Brazil.

And there is very strong support around the world for governments to distribute wealth more evenly. That is backed by majorities in 22 of the 27 countries.

If there is one issue where a global consensus seems to emerge from the survey it is this: there are majorities almost everywhere wanting government to be more active in regulating business.

Note the qualifier "free-market" on the capitalism. The implicit demand is for regulation of the market, for it to be guided so that it serves not just the profit line of the corporations, but the needs of people and planet.

A simple consideration of what is meant by "work"
leads to the conclusion that true economics is green, and orthodox economics is in fact a species of dys-economics.

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