10 Countries Losing Faith in Capitalism PressTV
go to original July 17, 2012

A significant number of people around the world have lost faith in capitalism since the beginning of the Great Recession in the United States, according to a new survey by Pew Research Center.

The countries are: Russia, Czech Republic, Japan, UK, Pakistan, Lebanon, Poland, Spain, Mexico and Italy.

While U.S. love for the free market has dipped only slightly - 3 percent over five years - other countries like Mexico, Spain, Italy and the U.K. are growing disillusioned at a faster rate.

Certainly in the many nations struggling with the eurozone crisis, such as Spain and Italy, it's not hard to see where such sentiments originate. Spain, whose banks will likely receive billions in bailout funds, has seen confidence in free markets drop to 47 percent from 67 percent just five years before. The drop in Italy has been comparable.

It's not just Europe either. Pakistan, Japan and Mexico have all seen significant drops as well. Huffington Post

FACTS & FIGURES

Since the economic downturn began in December 2007, around 8 million jobs have been lost. CNN

Perhaps the most obvious way that young people have been hit by the recession is unemployment. usnews.com

Of the 13 recessions that the American public has endured since the Great Depression of 1929-33, none has presented a more punishing combination of length, breadth and depth than the 2008 one. pewsocialtrends.org

A 2010 Pew Research survey found that 30 months after it began, the Great Recession led to a downsizing of Americans’ expectations about their retirements and their children’s future; a new frugality in their spending and borrowing habits; and a concern that it could take several years, at a minimum, for their house values and family finances to recover. pewsocialtrends.org

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