DO WE LIVE IN AN ORDERLY WORLD?

Adam Smith was absolutely brilliant in his time. Some of his prescriptions continue to inform capitalism’s best practices. Others however do not. Orderliness heads this list. For an enabling world view, Smith borrowed from the great physical scientist Isaac Newton who was enamored with orderliness, for instance in the orderly way planets in our solar […]

Read More

(More on) GOVERNMENT’S ROLE

No longer can contemporary capitalism operate on autopilot as in Adam Smith’s time. Now, extra-market-oriented choices by citizens are becoming essential to circumscribing the market with public priorities for health and welfare, education, environmental stewardship and much more. The “new” capitalism ahead will steer around the false dichotomy of only two choices: laissez-faire or Marxism. […]

Read More

AND NOW, PSEUDO-CAPITALISM

We’ve described a hypothetical scenario in which an 18th Century farmer removes a plow horse from the field, then tethers it near his door solely for the pleasure of his children. Farm output and productivity slip. Then we linked the scenario to contemporary American capitalism. We call this pseudo-capitalism. It has evolved to include all […]

Read More

MAKING CAPITALISM GREAT AGAIN

Adam Smith, a contemporary of America’s Founding Fathers, would conclude today’s culture of faux-capitalism is running off the rails. We’ll use a hypothetical American farmer from that period to illustrate what worked well then, but no longer works. Later, we’ll pull back the curtain to view the world from an economist’s perspective and also ask […]

Read More

AFTER DIVISIVENESS, WHAT?

David Brooks explains why Donald Trump’s attack dog isn’t hunting well amid Covid-19 meltdown. One wonders then, what will come on the heels of flagging Trumpian culture warfare? Brooks’ New York Times colleague Michelle Goldberg ruminates about big culture shifts paving the way for big, yet-unknown political changes. The grinding scenario she foresees: looming economic […]

Read More