In 1989, many of us believed that the experiment of communism was well and truly over, and the future belonged to economic systems based on free enterprise and
However, the data for last few years shows a distinct possibility that capitalism is getting corrupted by the combined force of events and personalities. Free markets are getting a lower say in economic matters and the world is getting dominated by economic systems planned, controlled and managed centrally.
Below, we present two charts for the global economyi
The above two charts show the relentless expansion of governments in the economic and monetary realms of human activity across the globe. This may, over a period of time, lead to reduction in animal spirits, increase in cronyism, and a general reduction in welfare of human beings – as one witnessed in the communist bloc during the 1950-1990 period. This conclusion could be the true and the lasting impact of the current credit, financial and economic crisis unfolding in the developed world.