Friday, 8 May 2009

The Death of Capitalism

This evening's comedy on BBC 1, 'Reggie Perrin', once again failed to make me laugh but did make one interesting point. Clunes' character suggested that society is resigned to capitalism because the other economic systems of Communism and thieving don't work. This makes an all too clear distinction between what is a grey area.

However the G20 protests suggested that some are becoming disenfranchised with capitalism and the economic downturn has unsurprisingly got some people questioning, at the very least, the Anglo-Saxon, laissez-faire approach to capitalism. Of course it would be absurd to suggest a Communist revolution or the destruction of the criminal justice system but many are beginning to look at the continental approach for guidance in these tough times. Countries like Germany and France seemed to have held up well despite the current climate and although there have been shortfalls in relation to industry and employment this is nothing compared to the situation in Britain and America.

Is the French model the one to pursue in the future then? The answer is probably not and I think the reason for this will become evident in the near future when the global economy begins to recover. Whilst it is predicted that Britain and the USA will make a swift recovery and may even be stronger on the other side of the recession, other countries such as France will make a slower recovery as they pay the price for their welfare system which for the time being has protected employment.