January 21, 2012

Is Capitalism Itself The Problem?

Mohamed El-Erian, Financial Times

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Coming from very different perspectives, the columns in the ‘Crisis in Capitalism’ series have each provided insights and identified steps that, in their opinion, could make things better. But, is there a way to reach a clear overall conclusion? I think the answer is yes, although the implications are disconcerting.

The majority of writers agree that the crisis in capitalism is caused by two distinct failures: the inability of the system to deliver sustained prosperity through economic growth and jobs; and the perception that it is grossly unfair and socially unjust.

To fail on one count is a problem. Yet...

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TAGGED: capitalism, Mohamed El-Erian

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