Tags: Americans | Faith | free | Market | System

Americans Losing Faith in Free Market System

Thursday, 26 May 2011 01:16 PM

The number of Americans who feel the free market system is best for the global economy is dropping off sharply.

In results recently published, 59 percent of Americans asked in 2010 by GlobeScan, a polling firm, agreed "strongly" or "somewhat" that the free market was the best system for the world's future, down quite a bit from 80 percent when the question was first asked in 2002.

Across the globe, results were mixed.

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(Getty Images photo)
"Of the 25 countries polled, support for the free market is now greatest in Germany, just ahead of Brazil and communist China, both of which have seen strong growth in recent years," The Economist reported this week.

"Indians are less enthusiastic despite recent gains in growth. Italy shows a surprising fondness for markets for a place that is uncompetitive in many sectors. France under a third of people believe that the free market is the best option, down from 42 percent in 2002."

While the United States and its free-market economy inches out of the worst recession since the Great Depression, European economies are fighting to contain economic and financial crises, especially those in Portugal, Italy, Ireland, Greece and Spain.

Yet some in the U.S. says Europe is in better shape than the United States, home to massive government spending and money printing.

"Italy and Spain have a higher rating for fiscal responsibility and sustainability under the new Comeback America index than the U.S.," former U.S. Comptroller General David Walker, now head of the Comeback America Initiative, tells CNBC.

"The question is when are the markets going to come after us."

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The number of Americans who feel the free market system is best for the global economy is dropping off sharply. In results recently published, 59 percent of Americans asked in 2010 byGlobeScan, a polling firm, agreed strongly or somewhat that the free market was the...
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2011-16-26
Thursday, 26 May 2011 01:16 PM
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