Alla P. Gakuba

When Capitalism Ran Amok and Brought the Capitalist Economy to the Brink of Collapse, Socialism Was Called to the Rescue

Unrestricted and unchecked American capitalism has run amok and 2 times brought the USA economy to the brink of collapse: “The Great Depression of the 1930s,” and a Financial Crisis of 2008.

The 1st time capitalism ran amok was in the 1930s. It resulted in a national crisis called “The Great Depression of the 1930s,” 1929–1939, that devastated the nation. Socialism was called to rescue the economy.

The 2nd time capitalism ran amok was in 2008, during what was known as the Financial Crisis. Capitalism (Wall Street, banks, and big corporations) robbed and impoverished the American middle class with 2 scams: “dot-com” and “subprime mortgages.” Socialism was called in to rescue the economy from the ravages of the 2008 Financial Crisis—described in this story.
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