The free market is the only economic system that generates prosperity. A billion people have been able to wrench themselves out of poverty since the turn of the millennium.
But the free market can’t mask the blemishes of our economic model: speculative bubbles, crises, corruption, tax evasion and underhanded ploys to get rich quick. Handelsblatt Global Edition today analyzes capitalism’s seven deadly sins, warts and all.
If it wasn’t clear before, it is now: Air Berlin needs to make an emergency landing. Germany’s No. 2 carrier just reported another year of mounting losses and debt, and fewer passengers. The 2015 loss of €446 million was €70 million more than a year before – and the seventh straight year of red ink.
Equity was sucked dry three years ago and the only ones keeping the airline aloft now are its banks. But for how much longer? Jet-powered vultures are hanging over Air Berlin.