Gone are the times of extremes, or so it seems! Today, there are not many takers for 'either or' positions specially when it comes to say, ‘science and religion’, ‘state and market’ and ‘capitalism and socialism’. For example, the movie ‘Angels and Demons’ speaks of coexistence between science and religion and states that they are not enemies. Here is an interesting essay on the movie.
Today, with the financial crisis there is an increasing skepticism about the infallibility of the ‘invisible hand’, namely, market economy, read capitalism. With many of the high profile capitalist enterprises claiming bankruptcy, the capitalism is in troubled waters. Interestingly, General Motors becomes 'only' the 99th American company to go under!
In such a scenario its goodbye for any talks on exclusive capitalism or exclusive socialism and welcome to ‘socio-capitalism’ or ‘capito-socialism’. R Jagannathan of DNA says that socio-capitalism is an idea whose time has come.
What do the fundamentalist groups of capitalists and socialists say?
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