The
poor at least (who are U.S. citizens) would like America to be for Americans
and the rich to invest in creating good jobs in the U.S.A. Many of them don't
prefer to have a president raised offshore in Indonesia eating dogs with or
without barbeque sauce who won't reinforce Arizona border security or U.S.
immigration laws, neither are they thrilled about numbered Swiss accounts,
no-tax havens for the prosperous in Bermuda (e.g. Mitt Romney) or Rhodes
scholars running for political office in the U.S.A. Bermuda is also a British
possession and no right-thinking Republican candidate should touch that
empire's financial assets and institutions with a ten-foot pole.
Some of the poor deplore Bill Clinton's Oxford academic treason
as well as Tom Harkins Bermuda vacation home. They may hate Charlie Wrangell's
Santo Domingan condo properties and wonder why they aren't in Puerto Rico. How
can President Obama advocate for illegal aliens as he recently has and let
Samoan Americans languish without citizenship-everyone should be a citizen of
one country and no more-American Samoans living in a U.S. territory have none.
Americans today are plundered by globalism and existential
economics of unaccountability and global irresponsibility. From a Diamond
President of Barclay's Bank to a Diamond President of Chase losing 6 billion on
the roll of dice the climate of global existentialist self-interest prevails in
U.S. politics. Deregulation has made a diner's dilemma macro-social gradual
decline into a pit of unprofitability for the national interest.
Democrats have made the Romney tax-free retirement account
holding in Bermuda a campaign issue. It indicates the need for pervasive reform
of capitalism such that U.S. free enterprise is featured and the prosperity of
all Americans is a concern preponderantly in politics. Americans are global
investors in mutual funds and a plethora of other financial instruments yet
when everyone pursues their narrow self interest the systems tends to fail just
as if everyone at a football game with a 100,000 people sought to pursue their
best self interest using the restrooms at half-time making the process
inefficient.
Adam Smith and David Hume were friends and philosophically
minded. They advocated for capitalism with values in their day adapted to the
prevailing empirical conditions of trade, commerce and allocation of personal
and public resource. Hayek and Von Mises inquired into the nature of capital
and what it is-plants, cash, gold, social structure and so forth. Smith and
Hume realized that the pursuit of the good might be construed as capital, for
capital is a good that secures the well-being of the individual as well as of
the many. The concept of common wealth and ordinary capital build up is a
function of the description of the literal, variable meaning of capital at any
given time.
In one era water may be the most valuable capital good, in
another it might be an oar or a sail. Tradable commodities such as gold may
represent capital, or seashells or good social structure such as in a well-trained
mercenary army for hire. Capital is an abstract expression of concentrated
point phenomena of good states of affairs. It is a failure in modern social and
economic theory to recognize ordinarily the concept of capital as a variable
representing the epiphenomenal object of goodness to the experience of human
life that brings automatic and mal-adapted economic iterations and ideas such
as existential deregulation of social commerce to dominate the present
mal-adaptive global economic system.
The nature of capital and
of ecological economic philosophy is too broad of topic to pursue far in this
essay. Yet it should be possible to reform American capitalism such that free
enterprise is again accentuated over concentrated wealth through collective
corporate structures. The number of individuals employed in any corporation
should be limited to 5000 and the number of corporations anyone could invest in
would be limited to three. A new age of qualitative economic competition and
free enterprise should develop. Yet it needs to develop with the criterion of
ecospheric renewal through the necessary vehicle of government regulation,
zoning and incentives.
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