In reply to Oliiver:
I've noticed you like to use the word liberal a lot, particularly as an insult but you don't really seem to know what it means. I suggest you check out the Wikipedia article on liberalism so you can at least engage in some informed debate.
The current economic model is based on liberalisation, that is, neoliberalism which is basically the belief in the free market, privatisation, rolling back of the state and so on (Harvey 2005). Most of the world follows this neoliberal model. There have been significant, serious issues, especially the financial crisis which was partly brought on by deregulation. It's also brought problems in developing countries, limiting options for education and employment ( eg Jeffrey and Dyson 2010; Jeffrey 2008).
There's also classical liberalism: "advocating civil liberties and political freedom, limited government, rule of law, and belief in free market" (Wikipedia). In the USA, liberals are regarded as left wing but in fact Republicans are following classical liberal ideology.
Your suggestion that liberalism doesn't work doesn't make sense because as far as I can tell, we still have " free and fair elections, civil rights, freedom of the press, freedom of religion, free trade, and private property" (Wikipedia).