Capitalism’s favorite bogeyman Fidel Castro has admitted that the communist economic model doesn’t work. Cuba’s former long-time leader made his surprising comments to an American journalist in Havana.
Posts Tagged ‘capitalism’
Grading Free Market Capitalism and “The Invisible Hand”
February 28th, 2010 |
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Free market capitalism is based on the idea that “the invisible hand” of the market will create the best possible outcome for the most people.But as I noted a couple of weeks ago, the man who came up with idea of the invisible hand did not believe in u…
Capitalism in China: The spirit of enterprise fades
January 21st, 2010 |
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The cradle of China’s start-up firms is showing its age
CHINA’S remarkable resurgence began three decades ago with the designation of Shenzhen, just north of Hong Kong, as a “special economic zone”. Businesses in the zone were free to re-engage with overt capitalism and make profits by satisfying customers, not the state. The result was the transformation of a farming village into a city of 9m people, bustling with production lines and sewing machines, making everything from iPods to Nikes, in a burst of entrepreneurial zeal.
But that may describe its past more accurately than its future. Inevitably, prosperity has affected people’s attitudes and the local business environment. A study by the Shenzhen Academy of Social Sciences and the Chinese University of Hong Kong, released on January 18th, shows a precipitous drop in the fraction of the population involved in starting new businesses, from 12% in 2004 to 5% in 2009. “It’s not so special anymore,” says Kevin Au, a professor of management at Chinese University. …
Äelić to attend “New World, New Capitalism”
January 6th, 2010 |
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Deputy PM Božidar Äelić will attend a symposium in Paris, dubbed “New World, New Capitalism”. His trip to France will come on the invitation of French Minister of Immigration, Integration, National identity and Solidary Development Eric Besson.
Michael Moore takes “Capitalism” censure to Japan
December 4th, 2009 |
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Firebrand director Michael Moore is in Japan to promote his latest documentary on the global economic meltdown, which he says should resonate in a nation that has already seen the dark side of capitalism. “Capitalism: A Love Story” opens in Japan on Saturday, and Moore, on his first visit to
Don’t Blame Capitalism for Wall Street’s Corruption and Lawlessness
November 9th, 2009 |
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When Mahatma Gandhi was asked what he thought about Western civilization, he answered:I think it would be a good idea.I feel the same way about free market capitalism.It would be a good idea, but it is not what we have now. Instead, we have either soci…
When Moore means less
October 6th, 2009 |
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Michael Moore’s new film about capitalism scores some points, yet misses the point
IF THERE were a gospel according to contemporary American capitalism, how would Jesus Christ respond when asked to heal the sick, or show the way to eternal life? Michael Moore, the polemical documentarian right-wingers love to hate, offers his own answers in his new film, “Capitalism: A Love Story”. The first request is declined—Christ, in voice-over, says he is unable to heal someone with a pre-existing condition—and the answer to the second is “Go forth and maximise profits”. When it comes to the jokes, at least, Mr Moore is back on form after his previous, rather turgid film about American health care, “Sicko”.
Indeed, Mr Moore has leavened his latest outpouring of conspiratorial left-wing nonsense with some genuinely amusing moments. As well as his gospel of capitalism, there are some thoroughly enjoyable clips of experts such as a former IMF chief economist, Ken Rogoff, failing to provide an easily understandable explanation of derivatives. There are some satisfying swipes at George Bush. And there are plenty of bemused security guards at Goldman Sachs as Mr Moore tries to enter their building to perform a citizen’s arrest on their chairman before wrapping their building in yellow “crime scene” tape. …
Fortune‘s Stanley Bing: Forget Ponzi Schemes: Try Venture Capital!
July 28th, 2009 |
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I was at a party in Northern California last weekend. It was a very good party. These folks are expert drinkers. They bend to the…
Nelson Davis: A Capitalist Fundamentalist
July 18th, 2009 |
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Since early in this century (using 9/11 as the time mark), fundamentalism of various types has been rising, and our media seem to be having…