Protesters near the Lebanese parliament-Photo source: http://www.alarabiya.net
The fall of the Soviet Union in 1991 have demoted communism and socialism to the least importance upon which capitalistic notions flourished all around the world. Since then, the dominant economic trends revolve around the economic theory of deregulation of the markets and noninterference of governments, theorized as the Free Market system.
In practice, this extortionate version of capitalism ended up being the catalyst that drove most of the world into severe economic recession in 2008. Yet there are some prudent governments, like those of Germany and Scandinavian countries, who were able to contain such worldwide recession with minimal damages to their economies. This, however, is because their legislative systems require certain level of government involvement in regulating the markets.
The rationales behind adopting similar mindful policies stem from the need to uphold stable socioeconomic conditions, secure the welfare of low-income classes thus and…
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