The financial crisis

Just some thoughts on the Wall St financial crisis.

Following the Second World War geo-politics became dominated by the Cold War between Communist and Capitalist ideologies.

When the Cold War ended free-market capitalism was often seen as the victorious ideology and successive Governments in the US and around the world pursued free-market economic policies and de-regulatory practices.

It seems however, that just as the fall of the Berlin Wall left communism discredited as a political and economic ideology, so to has the recent financial crisis, the result of a lack of effective regulation and oversight, discredited the notion of pure free-market ideology.

Seems like the answer to the debate between socialist style Government control and intervention and free market capitalism is not about one extreme or the other, but as always somewhere in the fuzzy middle.


  1. Freddy McFuzzyHat
    Posted 29 September 2008 at 12:10 pm | Permalink

    In Soviet Russia the economy runs you!

  2. Posted 13 October 2008 at 4:19 pm | Permalink

    Not really sure what to add to that. What’s the point of having capitalism if it’s just going to result in the government bailing you out? But yeah, it doesn’t seem one or the other, but rather fuzzy. Like Mr. McHat.