Renewed Crisis Will Beget More Stimulus

By on December 18, 2009

Richard Duncan, author of The Corruption of Capitalism: A Strategy To Rebalance The Global Economy And Restore Sustainable Growth, says capitalism has actually degenerated into statism, in that the government needs to continually add stimulus to stabilize the economy. This is required because the capitalism has been corrupted by overborrowing and overspending by a weakened consumer, who was egged on with cheap credit.

Duncan does not believe China will be able to pull capitalism from its knees because it’s suffering from its own bubble.

Source:

Reuters
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