John Menadue

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

John Menadue

John Menadue is the Founder and Editor in Chief of Pearls and Irritations. He was formerly Secretary of the Department of Prime Minister and Cabinet under Gough Whitlam and Malcolm Fraser, Ambassador to Japan, Secretary of the Department of Immigration and CEO of Qantas.