How would you explain to someone that a recession or stock market crash is not the failure of capitalism?
Sunday, June 14th, 2009
water_skipper asked:
How would you explain to someone that a recession or stock market crash is not the failure of capitalism? With the stock market crashing in the past couple of months, unemployment soaring, and the Big 3 automakers on the verge of bankruptcy I’ve heard more than one person comment that it’s all proof that capitalism is outdated or never worked very well. How would you explain to them that capitalism does work?
Adam
How would you explain to someone that a recession or stock market crash is not the failure of capitalism? With the stock market crashing in the past couple of months, unemployment soaring, and the Big 3 automakers on the verge of bankruptcy I’ve heard more than one person comment that it’s all proof that capitalism is outdated or never worked very well. How would you explain to them that capitalism does work?
Adam
