Also, a scant six years after capitalism shit the global financial bed, we're seeing a resurrection of capitalism-rocks boosterism straight out of the Reagan era. Regulate financial institutions? Hmmph! scoffs Veronique de Rugy, veteran richie apologist, at the Daily Beast. "Regulators are often captured by the industry they regulate at the expense of everyone else," so let the banks police themselves, just as corruption among the cops means we should leave street gangs free to sort out their own affairs. (Talk about little platoons!)
Hernando de Soto in the Wall Street Journal actually ties Yay Capitalism to ISIS:
As the U.S. moves into a new theater of the war on terror, it will miss its best chance to beat back Islamic State and other radical groups in the Middle East if it doesn’t deploy a crucial but little-used weapon: an aggressive agenda for economic empowerment...
As anyone who’s walked the streets of Lima, Tunis and Cairo knows, capital isn’t the problem -- it is the solution.
"I get a closer, cleaner decapitation with Gillette!"
Speaking of entrepreneurs, here's Reihan Salam at Slate with "In Praise of Amazon -- Jeff Bezos’ company is not the problem with American capitalism. It’s the solution to our economy’s ills" -- and boy, doesn't that call to mind "you mark my words, [it] will not only save Teldar Paper, but that other malfunctioning corporation called the USA." Salam thinks we don't give enough credit to our Titans of Industry:
Most of us believe that patents—legal monopolies that entitle you to all of the benefits from your invention for a limited period of time—are an OK idea because you have to give people some ex ante incentive to do the hard work of creating new things. You and I might both believe that the U.S. patent system has gotten way out of hand, but it’s hard to argue that patents are always a terrible idea. But what about the incentive to engage in the kind of complex coordination that creates enormous value, that raises productivity and delivers lowers prices, that can't actually be patented?There's something wonderful about Salam having to hurriedly gin up some respect for the patent system so he can use it to show the littlebrains how important intellectual property is -- you dopes love this so-called "inventor" who just wants to clean up the environment or some junk, well how about someone who invented a way to crush his competition and capture markets? Shouldn't he get a fancy certificate, too, along with protection from the FTC?
Next they'll all start wearing red suspenders and smoking cigars again.