The case for a socialist alternative
In a world of war, oppression and economic crisis, the need for fundamental change has never seemed more urgent. Todd Chretien examines the choices we have to make a new future.

THE CURRENT economic crisis has debunked the fiction that there is some sort of iron wall between politics and economics.

For decades, the partisans of the free market fought to liberate their system from the "meddling" of governments and bureaucrats. But when the blue chips were down, Wall Street and its friends in Washington dropped their anti-government ideal like a hot potato. Treasury Secretary and ex-Goldman Sachs CEO Henry Paulson led the charge by demanding the power to disburse $700 billion in taxpayers' money to try to manage the disaster.

This about-face destroyed the last vestiges of the consensus in favor of an unfettered free market among large sections of the business and political elite. No less than ex-Federal Reserve Chair Alan Greenspan--once called "the maestro" by his adoring fans for his supposed genius in orchestrating the economy--admitted in October that he had found a "flaw" in his ultra-libertarian, free-market faith that had led to the housing bubble and subsequent crash.

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