Introduction

Mohamed Rabie ()

A chapter in Saving Capitalism and Democracy, 2013, pp 1-2 from Palgrave Macmillan

Abstract: Abstract In the wake of the 2008 financial crisis, Mr. Paul Volker, former chairman of the Federal Reserve and a close advisor to President Obama, was asked about the administration’s plan to deal with the crisis. Volker said, “We are trying to save the system.” In light of this honest answer, we need to ask two questions: Can the system be saved as is? Does it deserve to be saved? The answer to both questions is “NO.” I do not believe that the free market system can be saved, unless it returns to its capitalist roots and becomes fair and socially responsible.

Keywords: Federal Reserve; Hedge Fund; Public Debt; Sustainable Economic Growth; True Mission (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32131-2_1

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DOI: 10.1057/9781137321312_1

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