Pyongyang, October 18 (KCNA) -- The only way out of the present crisis facing the capitalist world is to root out its system. Capitalism is fading away from history as it exploits people and is forsaken by them.

Historically, two ways have been used to tide over economic crisis in the capitalist countries. One was intensifying the state interference in the economic activities to a certain extent as typified by the "new deal" which was taken to survive the 1929-1933 great depression while the other was allowing the extreme anarchy and liberalism, free from state interference and restrictions as exemplified by the Reagan doctrine that was used to tide over the 1970s economic crisis.

Both could not avoid failure as they presupposed the maintenance of the capitalist market economic system.

The evil cycle of financial crisis emerging time and again in the U.S. and other Western countries is a clear proof. The present U.S. economic policy is just a replica of the "new deal" picked up from the garbage ground of the last century. Clear is what end it will bring.

It is impossible for the Western countries to get rid of the evil cycle of crisis as long as the capitalist market economy is left as it is.

A French anthropologist and social scientist in his book about capitalism at its deathbed warned of its end 20 years after the end of the Cold War. Voicing his conviction that funeral address for capitalism will turn into a death notice one day, he said in his article dedicated to the March 21st, 2011 issue of a French newspaper as follows:

There is no doubt that capitalism is waning. It is on its decline and our leaders are unable to take any measure to stop it.

They are increasing credit loans as a relief measure but the capitalist system is getting weak day by day.

The loan of the rich is gradually on the increase and the surplus fund is used for speculation.

The customers are mired in evil cycle of debt and politics have become hollow unable to advance any creative initiative.

Foreign media report that the shocking impact of financial and debt crises on party politics and ideological trend of the society in Europe is bringing about the most serious change since the end of the Cold War.

In Latin America people have become vocal in denouncing the capitalist market system and calling for taking the path of socialism. Influence of left-wing governments is growing as never before.

Venezuelan President Hugo Chavez Frias, speaking at a Cabinet meeting on July 14, said the only possible way is the transition from capitalism to Bolivarian socialism. He called for intensifying Venezuelan style socialism now under construction in the country.

Bolivian President Evo Morales in his speech during his visit to Cuba on Sept. 19 said capitalism can not solve problems of humankind, adding the 21st century belongs to the people, not to the oligarchic political forces.

History never flows as wished by the imperialists and reactionaries.

The corrupt and hypocritical nature of capitalism is being brought to light along with the passage of time and illusion about capitalism is ending up in nothing.