Crisis has fundamentally changed capitalism

The global economic crisis has "fundamentally changed" capitalism and the way governments and businesses view the world. That is the main conclusion to be drawn from an Economist Intelligence Unit report commissioned by Dubai Holding.

The report, Risk and Regulation: A new era for capitalism, is based on the findings of a survey of 418 global senior executives. The survey found that almost 60 per cent of respondents believe that capitalism is entering a new era of lower risk tolerance, higher regulation and slower growth.

"This report is an important contribution to the debate about the lessons to be learned from the global economic crisis. Although we are still in the midst of the economic fallout, now is the time to question many of the assumptions that have underpinned the global financial system and grasp the opportunity to change things for the better," said Ahmad bin Byat, Chief Executive Officer, Dubai Holding, in a statement.