Friday, August 7, 2009

The Failings of Capitalism

"...moaning and groaning about the failings of capitalism are really part of political theatre in a recession. In my youth, the Communist Party would meet delightedly during every recession and proclaim that capitalism was now in its final death throes. Even after the collapse of communism, dirges are still sung by other parties. The singing ends abruptly as economies pick up again, and turns out to be more a recession ritual than an anthem for reform."

Swaminathan S Anklesaria Aiyar, consulting editor of The Economic Times (India)

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