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Article: Freemarket.(News)
- Article from:
- Cape Times (South Africa)
- Article date:
- October 1, 2008
CopyrightCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SUDDENLY, it seems, nationalisation, or something very like it, is the fashion in the very temples of the free market economy.
In their headlong rush to shore up crumbling financial systems, governments and central banks in the United States, Europe and parts of Asia have thrown away the book of rules of the capitalist world.
Leaders who profess to adhere strictly to free market ideologies are using public money to bail out private financial institutions or to buy shares in troubled insurance companies and banks in the name of stability.
Complex rescue packages are being debated and huge sums of money are being raised with an alacrity which is ...