Thursday, June 10, 2010
Free Market System at a Crossroads?
China?s economy is barreling ahead. Europe?s in crisis. The U.S. in a muddle. Across the world, free markets are being challenged.
When the Cold War ended, Washington trumpeted that the free market system had won.
Twenty years later ? now ? that looks far from certain. The new challenger is not Communism but ?state capitalism? ?China-style, Russia-style ? where authoritarian political powers steer the ship, call the economic tune.
Right now, say my guests today, state capitalism is giving the free market world a drubbing. Europe?s a mess. The U.S. is in a muddle.
The free market economy heyday may be over, with big consequences, they say.
This Hour, On Point: The deadly-serious horse race. Free markets versus state capitalism.
Click Here to listen to the interview at On Point Radio.