Is capitalism in crisis? (James Codrington)
James Codrington gives his perspective on the root of the banking crisis and lessons from the voluntary sector
Bolsheviks, fascists, the Great Depression, Second World War state controls, nationalisation, the oil crisis: capitalism’s coffin has been well and truly nailed - and now we have \'reckless piratical behaviour that has driven our economic system onto the rocks\'. Denis Healey is cited approvingly – he wrote in 1989 of \'a world all too reminiscent of Britain two or three centuries ago when greed infected honest citizens with a speculative fever which produced strange collective madnesses like Tulipomania and the South Sea bubble…Today the consequences of a similar speculative fever have produced a global financial system so fragile and yet so inter-dependent that it is vulnerable to many sources of break down.\'
Author: James Codrington
James Codrington heads the charities team at Barings and is a member of the targeted Return Group.
He joined Barings in 2002 and has 14 years' investment experience.
He has an MBA in Mordern History from Oxford University and is a regular speaker at charity events.
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