Following the outbreak of the global financial crisis, the worst since the great depression in 1930s, capitalism has been under attack.
What is capitalism? It is simply a system that embodies economic liberty. This system has proved its worth for billions of people over the past century and a half. Look at China, it adopted market capitalism to transform the nation into a rising emerging market within quite a short span of time. And, of course, there are numerous other new emerging markets that benefited from the system.
Capitalism has always engendered crises, and always will. It is certainly not perfect. For all its flaws, it is the best economic system man has invented yet.
What has to be held in check is the way we manage capitalism. If we let the system go unregulated like what had taken place in USA and some other industralised nations, then crises of equal or even more serious magnitude would be bound to happen over and over again. Malaysia is of no exception!
Let's not blame the market capitalism. Rather, we have to keep the people in check.
3 days ago