A new Pew survey has identified steep declines in support for capitalism around the world.
The global economic crisis has hit millions where it hurts the most: in the pocketbook. But a study released Thursday by the US-based Pew Research Center also finds that the crisis has damaged their faith in political leaders and the free market economy in general.
People around the world are worried about the state of their national economies, reports a new global survey conducted by the respected Pew Research Center in Washington. The survey, which polled 26,000 people in 21 countries, found that only about a quarter of respondents (27 percent) were happy with the economic situation in their countries.
The survey found only four countries in which a majority of people were happy with and optimistic about the economic situation: China (83 percent), Germany (73 percent), Brazil (65 percent) and Turkey (57 percent).
Compared with a similar Pew survey conducted in 2008 -- that is, before the outbreak of the global financial crisis -- the recent poll found a striking decline in confidence. This, in turn, has led to a crisis in capitalism's economic model. In 11 out of the 21 states covered in the study, only up to a half of respondents said that they believe the free market economy leads to increased general well-being. ...................(more)