During and after the Great Depression of the 1930s many people asked the same question.

As it turned out, capitalism wasn’t dead, just undergoing one of its periods of creative destruction, when old practices and outworn businesses are ruthlessly purged.

Free markets are a natural phenomenon, like grass. If you cut grass, it grows back again. So does capitalism. It is government that is an unnatural construct of human ingenuity. Long, hard-won experience tells us it should be limited in size and scope.

John Evans has written a piece on what will happen to capitalism under the title, Is socialism the new quid on the block?

The “failure” of capitalism should be seen as part of a greater failure involving government and its duties to society. These are principally, sensitive regulation of systemic elements of the modern economy, like banks and other financial services, and ensuring monetary and fiscal balance across its operations.

It is now clear that government has failed systemically over the past decade by taking on too much debt, a condition mirrored in consumers’ personal balance sheets, and by serious mismanagement of the regulatory process.

Read Is socialism the new quid on the block?