Is capitalism dead?

How the crisis is changing the financial world as we know it

You know things are bad when you see someone on Wall Street holding a sign saying, “Capitalism is Dead,” said Eduardo Porter in The New York Times. That might be a bit of a stretch, but “the financial crisis sweeping across the world still has a ways to run,” and “chances are that the world that will emerge from this will be unlike the world we know.”

The transition will be “painful and protracted,” said Harold Meyerson in The Washington Post. When it’s over, Wall Street will play “a diminished role and Washington a larger one.” So it’s not capitalism that’s falling by the wayside, it’s the “unregulated capitalism” we call Reaganism.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us