Capitalism in crisis, a warning from history: Eighty years ago, a banking collapse devastated Europe, triggering war. Today, faith in the free markets is faltering again

Daily Mail
"But in the summer of 2011, with the eurozone in chaos, the British economy stagnant and the U.S. crippled by debt, with social mobility at a standstill and millions of ordinary families squeezed until they can barely breathe, it feels disturbingly familiar. In the past two days alone, stock markets have been in free-fall across the capitalist world. With investors manifestly losing confidence in Spain and Italy, two of Europe’s biggest economies, a second devastating world recession cannot be ruled out. Although the share-price plunge does not yet come close to the infamous Wall Street Crash of 1929, this week’s market mayhem is a chilling reminder of the sheer fragility of the capitalist system. If the worst happens, if Spain and Italy go down and the euro crumbles, then the world economy really will be in trouble."