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Thursday, September 25, 2008


Sarkozy: unclear on the concept

French President Nicolas Sarkozy:
"The crisis is not a crisis of capitalism," he said. "It is the crisis of a system that is far from the values of capitalism and has betrayed capitalism."
Evidently M. Sarkozy has a dictionary which, aside from being in French, is quite different than mine, because as I read things, we are looking precisely at the "values of capitalism."

Sarkozy continues:

"The idea of an all-powerful market without any rules and any political intervention is mad," Sarkozy said. "Self-regulation is finished. Laissez faire is finished. The all-powerful market that is always right is finished."
But it's not a "crisis of capitalism." Right. Nice try, Monsieur.

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