In just six weeks, as financial giants across the world revealed their capital hollowness, capitalism is being asked the most provocative questions ever. Are profits private and losses public? Do free markets mean unbridled freedom? Is government buying into private banks another form of nationalisation? Should taxpayers’ money be used to prop up free markets? If so, does it signal the rise of socialism? And with every passing day, as cries for government bailouts increase and get the label of legitimacy, the big one: is capitalism dead?
Opinion in Hindustan Times, November 03, 2008