From the Brussels Journal
Does the financial crisis make clear that capitalism, the free market and the classical liberal ideology are failing? Of course not, whatever social democrat ideological veterans might proclaim. Socialism and its derivatives have been morally discredited since the fall of the Berlin wall and there is no chance for them of getting back. People get a grasp that there is something wrong with the way the system works for now, but not with the system itself, as a recent poll by FT/Harris suggests.
What has been the ultimate source of the financial crisis hurting the world economy? To understand this, one has to consider on what the world economy is founded and that is still the U.S. Dollar. This rock of confidence has been originating from Western-European civilisation, deriving from mediaeval Bruges, the first financial center of its time, dubbed as “the cradle of capitalism”, where the Flemish van den Beurze family has borrowed its name for the “bourse” institutions emerging in the world’s later financial centers Antwerp, Amsterdam, London and New York. A protestant classical liberal culture has culminated in the founding of the new world, where nothing less than the absolute individual freedom was deemed sufficient for humanity and where without any doubt the highest level of civilisation has been reached, to the regret and envy of the less developed cultures outside the new world still suffering from oppression and jealousy. The American money has out-competed all rivals in becoming the sure rock for the tired, the poor and the huddled masses, also those outside the new world, to rely on.
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