Sir, – In view of the recent upheavals in the United States in relation to the financial situation facing that country and the similar problems in the euro zone (of which we in this country are too painfully aware), should “the West” be asking itself if that iconic “god” capitalism has failed?
It seems that capitalism has indeed failed, in over-stretching itself (starting with the collapse of Lehman Brothers in that bastion of capitalism – the US). It got so greedy that it ate the goose that laid the golden egg, choking itself in the process. But I do not blame capitalism per se for the mess, as I believe that almost each and every one of us, the common man, also got greedy, choking ourselves on the surfeit of money and goods to be had. And all on “the never-never”. We wanted everything, and we wanted it now!
So, what was/is the solution? In view of the seeming success of the Chinese model of capitalism, controlled by, for want of a better description, benign Communism, should “the West” be looking at that country’s mode? I am not for a moment advocating copying China lock, stock and barrel (our hard-won freedoms are too precious for that) but a mixture of Chinese control methods and Western democracy should at least be looked at.
The West would have, perhaps, to swallow its pride – but what is a little pride, when the financial future of our children and grandchildren is at stake? – Yours, etc,