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View Diary: A Failed Experiment (136 comments)

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  •  it is more than just exceptionalism (21+ / 0-)

    we had the idea of the frontier, that one could go to and recreate yourself.  Frederick Jackson Turner argued that it disappeared in 1890, except we kept finding new frontiers, some economic through new technologies.

    we had a myth of inexhaustible resources.  I can remember being taught in elementary school in the 1950s that the bounty of the sea was inexhaustible.  Perhaps it could have been prior to drift nets and destroying tons of "trash" fish that turned out to be essential to the ecosystem.

    We should have known better from our own history.  After all, we had so destroyed the original forests that we had to set aside large tracts as national forests in order to have a reliable supply of wood -  remember, the national forests are part of the Dept. of Agriculture, because trees are crops.

    Pure free-market capitalism has never existed in this country, except on very small scale in remote locations.  The mere existence of patents and copyrights restricts entry into markets, and the ability of some corporations to protect their interests by predatory pricing and restrictive tariffs has never served to benefit the large mass of consumers.

    The idea of the invisible hand of the market presumes perfect information by all players, and trade secrets and the doctrine of Caveat emptor is contrary to such perfect information.

    Regulated capitalism, social democracy, progressive taxation - these lead to healthier economies, less boom and bust, and happier populations.

    Too bad we have not in our American arrogance learned that.

    "We didn't set out to save the world; we set out to wonder how other people are doing and to reflect on how our actions affect other people's hearts." - Pema Chodron

    by teacherken on Thu Nov 22, 2012 at 07:00:47 AM PST

    [ Parent ]

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