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The current financial crisis sounds the death knell for laissez-faire capitalism

Professor Colin Mayer

Moderator: Professor Colin Mayer

Professor Colin Mayer is Dean of the Saïd Business School and Professorial Fellow of St Edmund Hall, Oxford.

Jonathan Michie

Proposer: Professor Jonathan Michie

Professor Jonathan Michie is Director of the Department for Continuing Education and President of Kellogg College, Oxford.

Linda Yueh

Opposer: Dr Linda Yueh

Dr Linda Yueh is Fellow in Economics at St Edmund Hall, Oxford.

Opening statements - 03 Nov 08

  • Professor Colin Mayer

    The events of the last year have brought to the fore a debate that many people though... read more

  • Professor Jonathan Michie

    Jonathan Michie

    I would argue that the recent banking crisis and looming recession are the consequenc... read more

  • Dr Linda Yueh

    Linda Yueh

    It is too early to sound the death knell for laissez-faire economics. Although tarnis... read more

Update 1

  • 06 Nov 08
    Professor Jonathan Michie

    Jonathan Michie

    There are a variety of capitalisms. Indeed, there is a large academic literature on t... read more

  • 10 Nov 08
    Dr Linda Yueh

    Linda Yueh

    Capitalism and associated economic models are constantly updated. For instance, it is... read more

Update 2

  • 13 Nov 08
    Professor Jonathan Michie

    Jonathan Michie

    Even the most extreme proponents of free-market capitalism – the Friedmanite mo... read more

  • 17 Nov 08
    Dr Linda Yueh

    Linda Yueh

    There is a tendency in an economic crisis to go too far to the other extreme. There i... read more

Closing statements - 20 Nov 08

  • Professor Jonathan Michie

    Jonathan Michie

    Laissez-faire capitalism has been pronounced dead by world leaders and commentators. ... read more

  • Dr Linda Yueh

    Linda Yueh

    This debate has focused largely on the extent of regulation of markets. The United St... read more

  • Professor Colin Mayer

    This has been an interesting debate for revealing agreement as well as disagreement.&... read more

For

53.9%

Results

Against

46.1%

Your comments

  • The debate

    Jonathan Michie is right to pose the question in terms of the variety of...

  • capitalism

    capitalism is great for those who have no existential issues to worry about -...

  • capitalism and China

    The United States, whose system of capitalism Linda Yueh seems to think is...

  • capitalism - 8

    As of today it looks as though we have the mother and father of all crises, but...

  • capitalism 7

    Capitalism also requires labour in certain physical forms and the non compliant...

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