We live in the most interesting of times and recent events will not only be remembered for a decade but for a hundred years. Capitalism has stalled, big-time. That the US and the UK has to turn to the tax-payer to bail out banks will have lasting consequences. Will this period see the end of unbridled capitalism and the ushering in of a new era of 'moderate capitalism'? Maybe, maybe not. However the US markets will see greater regulation, that's for sure. Previously this would have been an anathema to a Republican government interested in only the lightest of touches, although who knows how the next Obama/McCain administration will handle it?
If you haven't already, have a look at Robert Peston's blog here and an interesting article from the Independent asking the same question, is this the end of capitalism as we know it?
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- Andrew McStay
- I am director of the Media and Persuasive Communication (MPC) network at Bangor University where I also lecture on political-economy of the media. I am currently working on a book provisionally titled Deconstructing Privacy for Peter Lang and leading two empirical projects in connection with privacy perception and the use of new media for smoking cessation. I am author of Creativity and Advertising: Affect, Events and Process (Routledge, 2013); The Mood of Information: A Critique of Behavioural Advertising (Continuum, 2011); and Digital Advertising (Palgrave-MacMillan, 2009). Please contact me at mcstay@bangor.ac.uk if you are interested in Ph.D supervision or consultancy services.
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