7 $ins?

These are extraordinary times, yet very tough for some. The latest crisis has knocked the system off its pedestal, at least as an ideology –and for some a religion. One thing is certain: for all its virtues, and there are still some, the market no longer has all the answers to all the problems. Some burning questions:

• Has the nature of capitalism changed?
• Can the system answer all issues?
• Which virtues of free markets (should) remain?
• What are the seven deadly sins of capitalism?
• How can and will capitalism adapt?
• Are there any alternatives?

mikeconomics.net aims at asking some questions and, with others, helping find a few answers.

What do AIG, Madoff, GM, Bob Dylan, Dubai, Japan, UBS, Adam Smith, and Belgian beers have in common? They are all cited, among many other (in)famous names, in "The Seven Deadly Sins of Capitalism".

"Vats of ink have been spilt to explain all the... reasons for the financial crash"

Gillian Tett (Financial Times, October 8, 2009). However, you may spend a few hours reading, swallowing (not necessarily everything) and digesting a small cup equivalent like "The Seven Deadly Sins of Capitalism", or a larger glass like Gillian's "Fool's Gold".

Understanding for thinking and acting still requires some inking...