When we heard about the end of history, most of us (social sciencist) might remember the creator of such word, Francis Fukuyama. In the Newsweek magazine special edition 2010, he wrote an article titled "The history is still over". This article explain his standpoint on the end of history as his "end of history" argument has come under questions during the recent economies downturn.
The end of history basically told about Capitalism is the winner of all idealist conceptual practices. As the recent economic crises has sparked fear that the capitalism practises will be abandoned by most countries. But according to Mr. Fukuyama on his article is that capitalism is still the dominant practices as the world largest emerging markets, China, india, Brazil still believe in the system as they used to profited from the system. In the other hand, countries such as Iran and Venezuela which is against the system, was having problems to grow themselves due to the drop in the oil prices during the downturn.
In US, while public regulators demanded a greater regulation on the free market system, large corporations are hiring lobbyists. The economy downturn itself, though has costed many people out of jobs was not large n long enough to let the changes to happen. Banks and investments company has started to use back their previous practices worldwide.
In the end, it's still capitalism.
"A sad reality of human affairs is that people will not change a deeply entrenched attitudes, behaviours or habits unless under dire circumstances" - Francis Fukuyama - Newsweek sp.ed. 2010
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