FREE MARKET FAILING

FREE MARKET FAILING

By: Hadziq Moeshoffa

One from the beginning move clan shall be aware, that explanation and mankind history options just can't be placed on conference aim that just departed from death socialism and absurdity avoids capitalism success. Because history does ever note, from crisis goes to crisis, capitalism does ever bear new formulation about more exploitation pattern intensive and most systematic. Therefore doesn't marvel, KTT G20'S recommendation result in The London Summit ago just give more mandates to World Bank and another development banks for progressively increase loan capacity via "global expenditure support fund" to third world states.

Besides, to cure capitalism economic system molder, over and above do fiscal stimulus and monetary, in this KTT looks clear available wish to reanimate market mechanism that finds time to be delayed deep Doha WTO Lap – therefore G-20 initiation deep reforms Bretton Woods Institutions (IMF/World Bank) under commando of forward states with subterfuge increases voice and effloresce state participations sooths will only dribble the world states turn in at new book debt schemes that just will progressively trap third world state economics turn in at turn in at water gap beggary and dependency that progressively deep.

In the middle sharp criticism on bust of neoliberal capitalism economic system now, state group G-8 still declare for their commitment on market economy principles, free trade, financial liberalization and open investment one that is looked on can push economic growth and reduces poverty, with ask out amends state for engaged more intensive at in it. Besides also seeming that initiative for reform Bretton Woods Institutions (IMF/World Bank) one that lies under state commando go forward. Step that reform is attributed to strengthen international financial institution roles in order to market economy system restorations are free that be collaps. They also refuse protectionism practice that reputed opposition to free market principle.

Eventually, neoliberal capitalism was evident unsuccessful, financial crisis that stricken world and espoused with fraud scandal is outgrown at financial market is crisis that don't most allaying. Liberalization of financial sector and derivative financial market creation have dragged the world society in deep crisis water gap. Now, universalize PDB just USD 59 trillion, while derivative product point have reached US$ 531 trillion. A greed that greatly and was end with disrepair that doesn't be saved, but with exploitation and coextensive economy expansion