What if blockchain apps and cryptocurrency could simply operate on top of a corrupt system? Software will allow even a nation with a corrupt government and police force, rudimentary banks and broken capital markets to produce useful services.
Each American, each American household, and each American firm has a set of goals that it pursues, and each does so by acting within the American — actually, within the global — economy. But these many attempts to fulfill individual goals are no part of a collective effort to fulfill higher goals.
The executives and/or founders of large companies increasingly consider it their civic and moral duty to use the influences and powers of their businesses to censor or suppress political and/or inconvenient ideas they do not support or find offensive.
Bill Clinton repeated endlessly: “There is nothing wrong with America that cannot be cured by what is right with America.” This truism might have a contemporary application. What if the answer to capitalism’s current crisis is not socialism or social democracy but more capitalism?
Efforts to impose “more aggressive regulation of markets” – which typically amount to more confiscatory taxes and stricter government regulations – may fall short of actual socialism, but erode the defining characteristic of capitalism, namely private ownership over the means of production.
Where government moves in, community retreats, civil society disintegrates, and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit.
The state is a monopoly of legislation and law enforcement. In all conflicts, including those which it or its representatives are involved in, the state or people appointed by the state decide who is right or wrong. The predictable result is: the state is always right, in everything that it does.
With the American system of a democratic state, humanity has found the perfect institutional framework which makes the next step in the direction of a perfect world possible; and if only the American system of democracy would take over worldwide, the way to perfection would be clear, smooth and free.
Conservatives are often seen calling for reforms of government programs, and sometimes offer very specific suggestions. Libertarians call for repeal, abolition or dismantling of government programs.
Implicit in the economically illiterate notion that location of innovation matters is that we’re somehow weakened when it doesn’t happen near us. Most of us don’t live in Seattle or Cupertino, but we benefit from the genius of Amazon and Apple as though we do. Why would progress made in China make any difference?
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