Majority in worldwide poll think capitalism not working so well

November 10, 2009

(ChattahBox) — In a timely poll released Monday, 20 years after the fall of the Berlin Wall that heralded the demise of European communism, shows that most people particularly in the west still think the demise of the Soviet Union was a good thing, but dissatisfaction with capitalism is widespread around the globe.

Only 11 percent of people surveyed across 27 countries thought free market capitalism is working well, the the poll conducted for BBC World by GlobeScan said.  A slim majority, 51 percent, believed its problems can be solved with more regulation and reform, while nearly a quarter — 23 percent — said the system is “fatally flawed.” The timing of the survey of 29,033 adults also comes after the worst global financial crisis since the 1930s Great Depression, and reflects growing concerns among the public in the ability of politicians, banks and brokerage firms to act on behalf of the people instead of just corporate interests.

In only the United States (25 percent) and Pakistan (21 percent), did more than one in five people agree that capitalism works well in its current form.

The one issue where a global consensus seems to emerge from the survey is almost everywhere wanting government to be more active in regulating business.

Doug Miller, chairman of polling firm GlobeScan, which co-conducted the BBC survey, said: “It appears that the fall of the Berlin Wall in 1989 may not have been the crushing victory for free-market capitalism that it seemed at the time — particularly after the events of the last 12 months.”

Source


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