2-23-2013
http://www.marketwatch.com/story/capitalism-is-so-broken-it-cant-be-fixed-2013-02-23?siteid=yhoof2
Capitalism is so broken it cant be fixed
Saving capitalism will not save America
Washingtons endless political drama has already been transformed by capitalism. So has Wall Street, Corporate America, Big Oil and the entire economy been transformed into a bizarre circus Adam Smith would never recognize. Capitalism is now an out-of-control Frankenstein monster that changed everything. Now its too powerful to change.
Republicans wrong in thinking the rich create jobs. Democrats wrong because growth wont happen if they distribute the wealth of the wealthy to everyone else. Old ideological rhetoric.
One of the disturbing facts of history is that so many civilizations collapse. Few people, however, least of all our politicians, realize that so many of those civilizations share a sharp curve of decline, often a decade or two after it reaches its peak population, wealth and power.
So why do leaders fail us?
History keeps repeating its lessons over and over through many millennia. But we never learn.
Hopefully after a new black swan shocks us, well all wake up, wise up and do something truly innovative ... like reinstate Glass-Steagall.
http://www.marketwatch.com/story/capitalism-is-so-broken-it-cant-be-fixed-2013-02-23?siteid=yhoof2
Capitalism is so broken it cant be fixed
Saving capitalism will not save America
Washingtons endless political drama has already been transformed by capitalism. So has Wall Street, Corporate America, Big Oil and the entire economy been transformed into a bizarre circus Adam Smith would never recognize. Capitalism is now an out-of-control Frankenstein monster that changed everything. Now its too powerful to change.
Republicans wrong in thinking the rich create jobs. Democrats wrong because growth wont happen if they distribute the wealth of the wealthy to everyone else. Old ideological rhetoric.
One of the disturbing facts of history is that so many civilizations collapse. Few people, however, least of all our politicians, realize that so many of those civilizations share a sharp curve of decline, often a decade or two after it reaches its peak population, wealth and power.
So why do leaders fail us?
History keeps repeating its lessons over and over through many millennia. But we never learn.
Hopefully after a new black swan shocks us, well all wake up, wise up and do something truly innovative ... like reinstate Glass-Steagall.