Election-year politics evidently put some strain on Americans' vocabularies in 2012. The two most looked-up words of the year in the Merriam-Webster online dictionary were "socialism" and "capitalism," followed closely by "democracy," "marriage" and "bigotry."
In a new article, political scientist Ian Bremmer and economist Nouriel Roubini assert that the free-market system of capitalism has been so damaged by the recent financial crisis that the West's era of political and economic dominance may be gone for good.
Ian Bremmer argues in his new book that powerful authoritarian regimes in China, Russia and the Middle East are flexing their growing economic muscle via state capitalism. Bremmer stops by DailyFinance to chat about the global financial scene.
No matter what some critics assert about "an America that's changed forever" or "an America on the verge of Armageddon," the U.S. remains one of the freest, fairest nations in the world -- and this has led to wave after wave of innovation. That should happen yet again.
