The protestors are winning. They are winning on the streets. Before too long they will be winning the arguments. Globalisation is fast becoming a cause without credible champions.
(Financial Times, 17th August 2001)
Advocates of market economics continually portray capitalism as the most efficient and effective means of distributing scarce resources by a free, competitive market. Every election time without fail, the politicians queue up trying to persuade us of the efficacy of their party’s programme to stimulate growth and revive the flagging economy. There’s an almost unquestioned assumption that both the market and power structures which protect it are innately good, and that there is no alternative. But is this really the case? The answer to this question, as millions across the world are finding to their enduring cost, must be a resounding ‘no’.