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3 Sep, 2011

Western countries should rethink consumerism – People’s Daily Online

Project Syndicate, an international newspaper syndicate, recently published a commentary titled “Is Capitalism Doomed?” on its website, commenting on the slide of Western capitalist countries into economic, political and social crises.

Many Westerners have attributed the crises to the incompetence of governments. Some people ascribed the global financial crisis to a lack of government supervision. Commentators have said that the London riots were mainly caused by the British government’s sharp cuts in public spending, and the Conservative Party was to blame because it made far-reaching decisions “in a relaxed, almost recklessly confident way.”

However, is it all the fault of governments? Are incompetent governments really the root causes of all major issues in the Western world?

via Western countries should rethink consumerism – People’s Daily Online.