Time for a new world order: PM

Time for a new world order: PM

www.smh.com.au

In an essay to be published next week, the Prime Minister is scathing of the neo-liberals who began refashioning the market system in the 1970s, and ultimately brought about the global financial crisis.

"The time has come, off the back of the current crisis, to proclaim that the great neo-liberal experiment of the past 30 years has failed, that the emperor has no clothes," he writes of those who placed their faith in the corrective powers of the market.

"Neo-liberalism and the free-market fundamentalism it has produced has been revealed as little more than personal greed dressed up as an economic philosophy. And, ironically, it now falls to social democracy to prevent liberal capitalism from cannibalising itself."

(visit the link for the full news article)

I have never been a follower of the New World order debate, but after reading this article I am definitely interested in reading what some of the more informed members think of the statement by the PM of Australia?

It is obvious in the light of the current global economic crisis that the current system isn't delivering any answer, but is there a more sinister plot evolving in fast forward mode? And will the people around the globe buy into it?

www.smh.com.au
(visit the link for the full news article)

[edit on 31-1-2009 by Mynaeris]