From the Economist Magazine
Capitalism's waning popularity
A global poll shows an ideology in apparent decline
RISING debt and lost output are the common measures of the cost of the financial crisis. But a new global opinion poll shows another, perhaps more serious form of damage: falling public support for capitalism. This is most marked in the country that used to epitomise free enterprise. In 2002, 80% of Americans agreed that the world’s best bet was the free-market system. By 2010 that support had fallen to 59%, only a little above the 54% average for the 25 countries polled. Nominally Communist China is now one of the world’s strongest supporters of capitalism, at 68%, up from 66% in 2002. Brazil scores 68% too. Germany squeaks into top place with 69%.
France, one of the world’s strongest economies, continues as an anti-capitalist outlier. Only 6% of French “strongly” support the free market, down from an already puny 8% in 2002. Add those who “somewhat agree” with capitalism’s superiority and the figure is 30%, down from 42% in 2002. Turkey (another free-market success story) had the same level of support then, but it has dropped even lower, to a mere 27%. In Europe only Spain seems to buck the trend, rising from 37% in 2002 to 51% . Indians, on paper big winners from free-market reforms, appear unimpressed: support has dropped to 58% from 73%.
Capitalism’s waning fortunes are starkly visible among Americans earning below $20,000. Their support for the free market has dropped from 76% to 44% in just one year. The research was conducted by GlobeScan, a polling firm. Its chairman Doug Miller says American business is “close to losing its social contract” with average families.
the US economy has devolved into economic terrorism...perpetrated by the top 1% on the rest of the working class who on a daily basis are concerned with meeting their basic needs of food and housing...
ReplyDeletethose lucky enough to still have a job and consider themselves part of the middle class will be concerned with any type of job security... which was banished long ago specifically in the "private sector"
also of concern for those who still equate themselves with the middle class will be having the ability to send the children to college, make the mortgage payments, and retirement...
all deemed "un-american" primarily after Ronald Reagan was elected president in 1980
how hypocritical to observe that a google search of this term reveals it is primarily used by the right wing fascists to attack working people
Before the second world war we never called ourselves middle class if we were workers.
ReplyDeleteAnd your point is?
ReplyDeleteplease explain...I would like to understand
that being said...disregard labels such as "middle class", "workers", "wealthy"
the reality is that the economy in the United States of America as of April 11th, 2011 is failing miserably at providing the basic necessities of civilized life for a large portion of it's population
(the statistics are far too numerous to make mention of here)
that fact in and of itself is enough reason to demand and enact change in the current system