[QUOTE=imkidd57;2127787]Just remember that us capitalists aren’t doing so well right now. ;)[/QUOTE]
If the FED measured the inflation of cost of living properly (even in the mid-late 90s) and actually followed their primary mandate to control inflation, then credit wouldn’t have been excessively cheap 7-3 years ago and this credit crunch wouldn’t have happened. Ironically, 4-7 years ago, it was mostly those of the Austrian school of economics who were predicting a credit crunch (due to the artificially low rates) and those guys tend to be more capitalist than your average economist.
Plus if the individuals involved in running certain organizations actually had real responsibility (serous gaol time) for the collapse of their organizations, rather than relying on corporation law and government bail-outs, then there would be more incentive to properly control the level of risk taken.
As for Kim Jong-il, hopefully his successor will appreciate the factors (market economy) that has transformed the economies of certain other east Asian countries.