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Web Letter

European cocial capitalism doesn't work any better than US capitalism. It just creates different winners and losers. Both will destroy any society, given enough time. I have lived in Europe for twenty years and in the US for thirty years, and each system has its own strength and weaknesses.

The underground economy is so huge in Europe because if many entrepreneurs were to actually do their business legally, they would go out of business within a short amount of time, given the employment laws, taxes and social charges.

The big winners in Europe are the ones who contribute the least to the economy: government bureaucrats--and I met lots of them and many were/are my friends.

The great losers are people with a vision and who are self-employed, small businesses. They work like dogs, pay huge amounts to the government and pray. I met lots of them and many were/are my friends and I saw their despair and pain.

Social capitalism kills the human spirit, as it punishes people who want to create. The system steals their energy to reward other sectors of society living in entitlement.

Social capitalism is like a protective mother that smothers her children so that they never have to face life on its own term. Accordingly, they never grow up.

Raw capitalism is like a harsh father than throws you in the wild at a tender age to fend for yourself. The heart closes, and that doesn't work either.

No existing system provides a real solution. We need to mature beyond these old paradigms.

Chris Alexander

LA, CA

Apr 27 2010 - 9:30pm

Web Letter

Absentee ownership by large corporations of divergent companies means that they do not have a clue about the products these companies produce, nor do they understand the manufacturing process, or the markets they serve.

Similarly, we see the EU trying to micromanage the economies of their member states based on the absentee ownership of stock markets who do not understand the divergent needs of very different economies or the people they serve.

The economies in developed countries are supported by the consumer spending supported by the wages of ordinary people. Reduced wages and unemployment means the market for goods and services is reduced and or destroyed. Main Street is the real economy.

While I like the union-centered effort of the steel workers in cooperatives, I do prefer decentralized economic institutions run by the workers who have an institutional memory of the business, the manufacturing process and the market they serve.

Absentee ownership by investors has no institutional memory to understand or run the companies they own.

Pervis James Casey

Riverside, CA

Apr 23 2010 - 4:08pm

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