You'd have to look for a while to find an economist who would say capitalism will be no more.
Including on this list. On Wed, Jan 14, 2009 at 12:09 PM, Louis Proyect <[email protected]> wrote: > > From January 12, 2009 "Meet the Press": > > David Gregory: Let me ask a final question here in a conversation that will > certainly go on. Mark Zandi, on the other end of all this, what's the future > of capitalism? > > Mark Zandi: Oh, capitalism's going to be fine. I mean, we've got a crisis of > capitalism. We made a lot of mistakes as capitalists. And that's why we have > a government, and that's why government has to be bold and step in the > breach, and that's what they're doing. And on the other side of this, > government will figure out a way to step out gracefully. > > Paul Gigot: Well, I think capitalism will survive, but I think a good > question now at this particular juncture is what kind of capitalism? Are we > moving to a European brand; a, a much larger welfare state, a much larger > entitlement state with slower growth, higher long-term unemployment? Or are > we going to stick with what has been for the last 30 years, more or less, a > relatively successful model? We've had this blowup. If we don't make > mistakes, we can get through this. > > How remarkable for the most prestigious and longest running (61 years) > television show to raise the question of the future of capitalism. Moreover, > it is a sign of the times that there is a direct reference to the system > itself rather than the usual euphemisms (free market economy, private > enterprise, etc.) That is obviously a function of the severity of the > crisis. In times like this it is difficult to be taken seriously when you > use bland language to describe a condition that is anything but bland. > > Since the role of "Meet the Press" is to maintain the ideological hegemony > of the ruling class cutting across party lines, it is no surprise that they > would call upon the likes of Zandi and Gigot to reassure their audience. > > full: http://louisproyect.wordpress.com/2009/01/14/the-final-question/ > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
