Capitalism

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Full Title or Meme

Ever since Milton Freeman Capitalism has been primarily a widely distributed Ponzi Scheme.

Context

  • Capitalism as been through a wide range of interpretations and manifestations since David Hume and Adam Smith. [1] defined an alternative to the zero sum politics of the Feudal age. They were right and an age of capital growth began that has itself gone through many iterations, but remains the dominant way for humans to organize themselves.
  • For most of this new age of capital, the capitalists consider themselves to be an integral part of society that shared in the burden of making the entire society healthy.

Problems

The primary problem with Capitalism is human nature. Some capitalists, including Henry Ford were benign despot that understood that they could not succeed unless society, as a whole, succeeded. Others were less altruistic, but were not the dominant breed of capitalists.

  • As corporations, and governments, because larger and more unweidly, bureaucrats were brought into "manage" the enterprise. Starting with Bismarck
  • The major villain in this story is Milton Friedman of the Chicago School of Economics

Solutions

  • Adam Smith
  • John Maynard Keynes
  • it comes down to time frame. One quarter, One Year, till my next promotion, till i retire, till my grandchildren start a life in the society i leave them.

References

  1. Adam Smith, An Inquiry into the Nature and Causes of the the Wealth of Nations (1776-03-09) William Strahan publisher Went through 5 revisions, some major. A Translation into Modern English, Industrial Systems Research, 2015. ISBN 978-0906321706

Other Material