Economic Contagion

Years ago, when the first Bush was president, I drew a cartoon. It was after the collapse of the Soviet Union. In the cartoon were two graves. At the head of one grave that was filled in was Gorbachev, the former President of the Soviet Union. On the tombstone was engraved “Communism”, referring to the economic system [the economic and political system are two separate entities just like democracy and capitalism]. When the Soviet Union and Communism (economic system) collapsed, the contagion was confined to Russia and the satellite Eastern nations.

At the head of the other grave stood George Bush the senior. It was an open grave. On the tombstone was engraved “Capitalism”. Fast forward to today and we see a difference. Capitalism with Globalization has been embraced world wide. The travails of capitalism is taking the world with it.

Both Communism and Capitalism are viable economic systems under the right conditions. But both as they grow reach a point of self destruction. I wonder have we reached that point with Capitalism?