Time to rethink capitalism

The problem with capitalism is that the money and the decisions are the preserve of an elite few. There is a better, fairer, sustainable way that could serve us all, writes Kieran Allen

THE Irish economic crash tells us a lot about modern capitalism. The key decisions, which brought about the collapse, were taken by a tiny number of people.

There were 20 executive directors in the six main banks and most of them were paid over €1 million a year. There were 10 top developers who borrowed an average of €1.6 billion each and, maybe, 20 or 30 more key figures besides.