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Should capitalism be transformed?

Is the market system broken? If so, the state should intervene much more. Or will the system bounce back after a few minor adjustments?

By Robin Blackburn   November 2008

YES Robin Blackburn

NO Anatole Kaletsky

Dear Anatole 7th October 2008

Is this the big one? The long-foretold crisis of capitalism? It is, in any case, the 42nd major financial crisis since Nixon pulled the rug from underneath the Bretton Woods system in 1972. But the size and scope of the crash is already bigger than anything that went before, and that will also be true of the consequences.

Groups of leftists used to spend their time devising scenarios to discredit capitalism and to allow them plausibly to demand nationalisation of the banks. In a world where socialists…

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