Truth to Power

Survey says: People worldwide want more regs, capitalism “flawed

Free market flawed, says survey

Twenty years after the fall of the Berlin Wall, a new BBC poll has found widespread dissatisfaction with free-market capitalism.

In the global poll for the BBC World Service, only 11% of those questioned across 27 countries said that it was working well.

Most thought regulation and reform of the capitalist system were necessary.

Twenty years on, this new global poll suggests confidence in free markets has taken heavy blows from the past 12 months of financial and economic crisis.

More than 29,000 people in 27 countries were questioned. In only two countries, the United States and Pakistan, did more than one in five people feel that capitalism works well as it stands.

Almost a quarter – 23% of those who responded – feel it is fatally flawed. That is the view of 43% in France, 38% in Mexico and 35% in Brazil.

And there is very strong support around the world for governments to distribute wealth more evenly. That is backed by majorities in 22 of the 27 countries.

If there is one issue where a global consensus seems to emerge from the survey it is this: there are majorities almost everywhere wanting government to be more active in regulating business. </em>

It’s not capitalism so much that these people feel has failed, but rather greed. You don’t have to be an economist crunching numbers to see that the present definition of “free market” means the rich enrich themselves, and fuck everyone else. They do it legally, illegally, they do it by changing the rules, squashing competition, cutting corners on safety, and by paying poverty level wages. They do it everywhere…or at least everywhere that the US is the dominant power.


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