As the Berlin wall fell, checks on capitalism crumbled.

The Economics Editor of the Guardian, Larry Elliott, describes how capitalism is facing an increasing crisis. He says that after the fall of the Berlin wall, we have seen the dark side of the post-Cold War model. Instead of trickle-down, there has been a trickle-up. Instead of the triumph of democracy there has been the triumph of the elites. We are seeing this in so many ways – the avarice of bankers, growing inequality, executive salaries and greed. This article suggests that the Vatican may be right that markets must be underpinned by morality. For this interesting and challenging account, see the link below.  John Menadue.

http://www.theguardian.com/business/economics-blog/2014/nov/02/post-cold-war-capitalism-moral-roots-ancient-places

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John Laurence Menadue is the publisher of Pearls & Irritations. He has had a distinguished career both in the private sector and in the Public Service.

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