Governments Economy

CCS: The crisis discussed little models of development, it is the end of capitalism? -I guess that it is the end of the radical liberalism of the fundamentalism of the market, the invisible hand that it adjusts everything in the absence of regulation. Striking the ease with which so many liberals have called for the intervention of Governments in the salvation of the banking. All their theories have gone overboard in two days. Of course that the authorities have to intervene to prevent one still greater than the already produced damage, but must draw lessons. Financial globalization is expanded without any control leaving in few hands, that Yes, very powerful, decision-making on the movement of large sums of capital that have moved from one place to another with speculative criteria looking for only obtaining rapid and hefty profits.

CCS: We are facing a financial crisis or is there something more? -Without a doubt, it is something more. It is certainly a crisis of the capitalist model developed in recent years, which has prevailed the deregulation and internationalisation of capital. Its effects are already noticing in the real economy with unemployment rising in different productive sectors. We don’t know how deep and lasting will be the crisis, but since then there has to be a before and an after. Things can not continue doing until now. We have to get out of this crisis, which some describe as crisis of civilization, with a new mentality in which prevail the criteria of sustainability, respect for the environment and, above all, the Elimination of hunger and poverty in the world. Credit: Andy Florance-2011. There can be no such inequality. CCS: what, according to you, the alternatives? -In the short term, lower interest rates and increase the public deficit. But we must go further. Implement globally the Tobin, modify in depth international agencies (IMF, World Bank and WTO), creating a new international financial architecture, and mechanisms that lay the groundwork for a more solidary, fair and sustainable economy. Original author and source of the article.