After the fall of the Berlin Wall, nearly anything "left" or liberal was discredited and, with the collapse of communist states, it seemed like the "winner" -- capitalism -- enjoyed new, unquestioned status as the right path.
There were two great shows about capitalism recently on PBS.
(Yes, I'm not making this up. PBS. Capitalism. Deal with it.)
The Commanding Heights A great 3-part series about the recent world acceptance
of capitalism in the past 100 years, its pros and cons. From Keynes
and von Hayek, through Thatcher/Reagan, to the recent Asian market collapse and
Russian default, with excursions into some South American economies.
Watch the entire 6 hours on the web, if you've got the bandwidth.
This was awesome stuff. And I thought is was pretty even-handed.
The Trillion Dollar Bet A Nova episode about the company LongTerm Capital Management
and how they almost single-handedly hosed the world economy. It's a couple years old,
but I think it has relevance today, since the
downfall of LTCM was the Nobel-winning
Black-Scholes formula. The same
one that people are saying that companies should use if we start accounting
for options as an immediate expense (I.e., part of the reason why I think that
might be a bad idea).