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Unrestrained capitalism no longer works

Long before the collapse of Northern Rock, ordinary people with common sense could see that banks could not continue to lend money to borrowers who had little hope of repaying it. But they were 'pooh-pooh-ed' by 'experts' who were blinded by faith in the system.

Now that the mighty US economy has lost its triple-A credit rating, ordinary people can easily see that unrestrained capitalism does not work.

What is necessary is that nearly all of us in the developed world should have fewer goods and that those we have should be made from sustainable or recycled raw materials and acquired fairly, without detriment to poorer people or to the environment. Continued economic growth is not possible.

How long will it take the 'experts' to catch up?


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