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« The Grump ... Royal Birth; Royal Pain.... | Main | What Price Laziness? »

July 24, 2013

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Just wanted to include one more reference to Babylon in the book Christiana, by author John Bunyon. As her children left her side in the journey to the Celestial City, her daughter and son were being drawn & enticed to a place Bunyon called Vanity Fair.

While not explicitly stated in this post, it appears that you are suggesting an improper use of capitalism as a key element in America's downfall. I would never say that capitalism cannot be abused, but I disagree that its abuse is related to our nation's decline. America has been progressively and steadily moving away from a core-capitalist foundation, to the point that it is difficult to find a single sector of our economy that can honestly be considered laissez-faire.

Again, everything you say about the potential for misuse is spot-on. But I disagree with using it as a diagnosis for America's (and especially Detroit's) ills, simply because it is not the system currently in place.

S... total laissez-faire capitalism is only one point on a spectrum. It is legitimate to call an economy "capitalist" even when there is some degree of "regulation." Distinctions have to be made on "type" of regulation as well as "quantity." I continue to maintain that the prevailing moral structures which have been the backdrop of Americc's decline have had significant influence on the way that our Capitalistic enterprises have functioned. Government has accelerated that decline but even apart from their bungling efforts, the fundamental vectors were pointed in the same direction. It is simple enough to illustrate this with the catastrophic effect of the banking crises in the recent past when, as direct federal regulation was lifted in core areas, the lure of profits shifted the banking strategies away from traditional banking principles and lead to the housing bubble. Some, but not all, of that was government instigated.

Note also that in my write up that I carefully included both management AND labor in the indictment. Both have been excessively greedy and have lost their sense of connection to the wider good. It is that breakdown in moral compass that then can so readily lead to exploitation.

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