Francis Fukuyama: How Capitalism Survived the Crisis – Newsweek.com

A problem that started in the U.S. subprime-real-estate market quickly metastasized, spreading to the largest investment banks on Wall Street and from there to the rest of the world. In the fourth quarter of 2008, global growth abruptly went into reverse, and the enormous edifice of globalization itself seemed to teeter. The Financial Times even published a series of articles portentously titled “The Future of Capitalism”—as if all of the foundations of the global system were in question.
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