Why Europe Should Reject U.S. Market Capitalism

This is simply untrue, although most of those who say it undoubtedly believe it. The new American and British market capitalist model, which dictated deregulation of industry and privatization of state enterprises in the 1970s, and globalization of international markets in the 1990s, exists as a result of free political decisions and ideological choices that were anything but inevitable. History may one day describe them as having been perverse and socially destructive. Two of the most important influences on the new capitalism were academic in origin, and the third, improbably, was an instance of romanticized egoism. http://www.iht.com/articles/2006/04/28/opinion/edpfaff.php [Proofreader's note: this article was edited for spelling and typos on May 1, 2006]

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