A well-designed welfare state can actually encourage people to take chances with their jobs and be more, not less, open to changes.

There are different ways to organise capitalism. Free-market capitalism is only one of them-and not a very good one at that.

The free market doesn't exist. Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.

As South Korea shows, active participation in international trade does not require free trade. Indeed, had South Korea pursued free trade and not promoted infant industries, it would not have become a major trading nation. It would still be exporting raw materials (e.g., tungsten ore, fish, seaweed) or low-technology, low-price products (e.g., textiles, garments, wigs made with human hair) that used to be its main export items in the 1960s.

The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries.

Democracy is acceptable to neo-liberals only in so far as it does not contradict the free market.

To paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms.