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New suspicions of the same old capitalism

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20.01.2020

That capitalism has enriched the West is not contested. Nor do too many people dispute the power of the profit motive. But for all its success, the image of this economic system has taken a battering, of late. Consider the findings of a survey done among 34,000 people across 28 countries by public relations firm Edelman. If it has captured global opinion adequately, most of the world believes that capitalism in its current form is doing “more harm than good". Even in the US and UK, those champions of the free market, only half the people seem to have faith in it as a positive force. India emerged as the globe’s second most sceptical country, with 74% seeing it as more harmful than good, next only to Thailand’s 75%. The system in question has always had its critics, and the main charge levelled against it has been that it makes the rich richer,........

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