The failure of capitalism vs. the failure of communism
Posted by markharrison on January 8, 2009
I heard a phone-in on the radio this week, in which the punter was basically saying that Capitalism had failed in the same way that Communism failed.
I was, to put it mildly, shocked by this claim.
In the current “failure of capitalism”, in the last twelve months, approximately 1 in 1,000 home-owners has defaulted on their mortgage, and in some cases had their homes repossed. In the vast majority of cases, the former home-owner has either found private rental accomodation, or been housed by the social sector.
In the “failure of communism” in the 1970s and 1980s, communist governments provided living conditions so poor that they had to erect machine gun towers and minefields to stop people fleeing.
Moving into a rented house vs. risking your life being machine-gunned in a minefield. Fair comparison????