23% say capitalism needs to be replaced by a new system

Submitted by AWL on 23 November, 2009 - 6:24

A new BBC World Service global poll across 27 countries found only 11% of people saying that capitalism works well and that greater regulation is not a good idea.

In only two countries did the poll find more than one in five feel that capitalism works well as it stands — the US (25%) and Pakistan (21%).

51% opted for the idea that free market capitalism has problems but they can be fixed through regulation and reform.

An average of 23% felt that capitalism is fatally flawed, and a new economic system is needed — including 43% in France, 38% in Mexico, 35% in Brazil and 31% in Ukraine.

In Britain, 8 out of 10 people were critical of how bank executives have dealt with the economic crisis.

Despite the mainstream parties' consensus for cuts, a majority (60%) favoured significantly increasing government spending. 76% supported significantly increasing government spending on renewable energy and clean technology.

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