John Chuckman
COMMENT POSTED TO AN ARTICLE BY CHARLES HUGH SMITH IN CHECKPOINT ASIA
'The Future of What’s Called “Capitalism”
'Whatever definition of capitalism you use, the current system isn't it'
The article is rather dated in its concepts and thinking.
"Classical capitalism" has existed nowhere except in textbooks.
It represents more of a model to measure the costs and distortions of things against than a real and workable concept.
Truth is, for many reasons, I do not think it possible to exist, anymore than we have seen a genuine example of "socialism."
Powerful individuals and corporations will always seek and be given privileges and subsidies.
Favoritism and bias, too, will always distort realities so long as it is humans running things.
And what greater opponent to the model of capitalism is possible than the military-security complex?
It is a gigantic command-economy, hugely inefficient and wasteful, almost by definition.
It also represents, in the political sphere, the antithesis of democracy and free choice.
The bigger its role in your society, the more damaging it is.
In America, it has become an overwhelming presence.
