OK, OK, this is just as I have said a question, I am not stating a position on this one, just interested in seeing others thoughts and views, so please don’t attack me just yet, ………… and you know who you are !

I know that we have already discussed the rights and wrongs and moralistic issues associated with governments bailing out the banks, financial institutions and companies such as AIG, however I wanted to open up the debate further, hopefully on a more philosophical level.

Recently the US auto industry went cap in hand to the government seeking its share of the bailouts, irrespective of whether you agree with these bailouts or not, has the economic crisis, and resulting government intervention(s) signaled the end of capitalism as we know it ?

We have seen the nationalization of many of the leading banks. Here in the UK there is a call for the utility companies, water, and more loudly perhaps gas and electric suppliers to be nationalized given the sharp increases in energy prices, there is even support for a re-nationalisation of the transport services.

These are I appreciate unprecedented times, even so who would have predicted that many would see government ownership of these industries as the solution to the crisis, and indeed preferable to them being owned privately.

Many of us witnessed the fall of the Berlin wall, and with it in effect the death of communism, I am guessing that not many watched this from the “wrong side” of the wall so to speak, so few have seen their social and governing systems fail, so I ask, are we now witnessing this in the west.

And if so, if indeed capitalism is dead as we know it, what is a viable alternative ?

Oh I stuck this in politics, because I did not feel it was one for philosophy, if some one in admin wishes to move it please feel free, however please don’t feel a need or desire to present different political parties positions and stances here, not what the question is about……..