A Crisis in Capitalism?

In the inimicable way that RSA-Animate has of presenting information, social critic David Harvey ponders the issue of the recent economic crisis, and he wonders if perhaps a new model is on the horizen.

Certainly, the prominence and success of capitalist societies is indisputable, and no society has presented a viable alternative for progress and improved quality of life. And, of course, we are always talking about mixed-market capitalism in which the free exchange of goods and ideas is regulated by democratic governments to ensure the safety of all and the continued trust in and prosperity of the system.

I think the issue comes down to a simple concept, effectively characterized by William Golding in his classic novel Lord of the Flies. Golding's conclusion - and in many ways his theme - was that the success of any society depends more on the ethical nature of the individual than on any political or economic system, no matter how logical or rational.

It's who we are - individually and collectively - that will determine the quality of living in our society and communities.