'Creative Capitalism'

Although some of my friends would brand me a socialist or even a Trotskyite, I am neither. I believe in capitalism, free markets and progressive globalism, so there! However, capitalism, for me, should not be a one way street where all that is good about an expanding economy, wealth creation and technological advancement ends up benefitting only the few with only nominal and shrinking revenue streams affecting the many. I am a Keynesian when it comes to economic policy and that derives from the strength of that theory, wherein Government and the Private Sector can work in combination for the good of all the people, rich and poor. That one regulates the other is as it should be, what we see today is a direct result of deregulation and a free market run amok, unable or unwilling to constrain or protect itself from the ravages of its own greed and excess.

Bill Gates echoes some of my sentiments in his speech in Davos... but does not go so far as to imagine how one would shape such reconstruction.

Right now, corporate America, supply-side economics and this administration's complex interwoven relationship and adoration for the two, rather than tax codes and regulation, is stifling the intellectual and creative engine that has powered this country to greatness. Right now we are merely tinkering with known technologies, enhancing and repackaging known commodities. The few areas that could provide exciting new industries and exponential growth opportunities are considered too expensive or described as futuristic or just plain cooky! Why?

So, where and when does the next Bill Gates explode on to the scene? Perhaps, as noted by one of my commenters, he is in China or India and what does that say about this country? Only that greed and fear has finally damped the creative fires essential in keeping this country at the vanguard of prosperity. Also, the Chinese and Indian economies are not instinctually innovative rather they are immitative, much less likely to provide the next big thing but find a way to mass produce the next big thing for margins we cannot hope to compete with.

Maybe he will come from old, tired Europe... crikey! Then we'll be in trouble!