Liberalism and Capitalism Today

4Towards 21st Century Capitalism

If capitalism today remains the only economic and social system likely to be applied, at least for the foreseeable future, and if the principles on which it is based must be preserved as far as possible, we must face the facts: the crises to which it leads and which are the very consequence of its existence are becoming less tolerated by citizens, who are constantly obtaining more information about the events that are taking place and whose increased power of coordination often puts the democratically elected politicians and the institutions in which they live in a difficult position. Moreover, aware that the human is a vulnerable being, often preoccupied by a desire for gain which leads it to reprehensible behavior, that the world we live in is far from perfect, that the risks it presents are inherent in human activity, that the exogenous reasons leading to recessions are inevitable (natural disasters, attacks, wars, etc.), it seems to us necessary to reflect on the conditions which might lower the chances of inherently economic causes leading to serious dysfunctions.

Indeed, until now, the solutions provided have always been a posteriori, once the damage has been noted. However, the imagination of humanity, especially that of financiers, is always ahead of the measures that are taken and which, in any case, are not adapted to avoid the occurrence of subsequent crises. It is therefore preferable to set, a priori, the optimal conditions (political, ...