its interesting
how the history of the
wealth of nations in
our era retained
just two forms of
economics––
one failed & the
other isn’t
working very
well.
of the successor, a
famous economist once
said, capitalism would prevail
because it was always
subject to a bit of
patching-up now &
then.
in our own
aggressive times, its
manifestations have been
four––
speculative capitalism
wherein investors over-
enthusiastically
stake-out the future
without regard for
profits in the
now.
thin capitalism drives
companies to compete with
minimal reserves & on the
‘thinnest’ margin of
cashflow possible––
just days ahead of
bankruptcy, the
slightest disruption
would prove
catastrophic.
massive layoffs &
& betrayals of
social trust are
the accepted
norm.
fat capitalism reflects
our fervent belief in the
survival of the
largest & the most
predatory––
we imagine grand
monopolies to be
absolved of human
weakness & financial
flaw––
which they are decidedly
not.
& finally, there is
imperial capitalism, the
hedging of the
advanced developing
world with conditional
loans that cannot be
paid––
& the abandonment of the
low potential world to its
impoverished
destiny.
the collapse &
rebellion of national economies &
the global hives of AIDS
are mere costs of
capital;
starvation & terrorism are
expected market
adjustments.
the long term is
gone & the
short-term is rapidly
diminishing; our
money is wilting in our
hands.
it shouldn’t take a
reincarnation of
Adam Smith to warn
us––it may be
time for a
re-invention.