Business

Last updated: 18 august, 2009 - 15:58 GMT

Does capitalism have a future?

Traders work in the Euro Dollar pit at the Chicago Board of Trade

Should we renew our faith in American capitalism?

We've just learned that the economies of France and Germany - the engines of Europe - are now growing. In Washington, the Federal Reserve has expressed coded measured optimism.

But this does not mean the recession is over. Think of Japan where a dismal economy persisted for a decade.

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On the question of economics and belief, we brought together two people with very different perspectives to discuss where the recession leaves capitalism.

Steve Evans talked to Alpesh Patel, an entrepreneur and founder of the hedge fund Agile Partners Asset Management, and first Vinod Shetty, a labour lawyer in Mumbai.

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Might the recession lead to more use of alternatives to traditional capitalist companies, such as social entrepreneurship - where a company's whose prime purpose is not to make profits but to do some social good; or cooperatives - where the company is jointly owned, by say a group of farmers or even by the customers.

James MacGregor is an economist at the International Institute for Environment and Development, which aims to work for a fair and sustainable future.

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First broadcast on Business Daily

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