Economic Meltdown: Capitalism’s Death Agony; In Search of Socialist Way Out
Economic Meltdown: Capitalism’s Death Agony; In Search of Socialist Way Out Written in October, 2008 Introduction That the world financial system is in a serious dire crisis is no more news both on the basis of news reeling out daily on the billions of dollars lost at the stock markets across the world, and the history of cyclical collapse of capitalist system. Also, that various critical analyses have been given by various, mostly bourgeois, commentators the world over on the current world economic crisis, who condemn the free market-induced financial/economic crisis and in some cases call for another Keynesian pill to safe capitalism is not new. However, what has clearly manifested from these analyses is the pro-capitalist approach which tend to portray the situation as a structural or managerial fault, which can be corrected by taking the 'correct' methodology to market system – governmental oversight control or responsible management practices. Most com...