https://amgreatness.com/2022/06/28/wont-get-fooled-again/
Let’s explore the possibilities. This is America, after all. We have some experience with such explorations, even if most of us now sit for a living.
Let’s start with the macro view. In order to compete in this world today, we need enormous corporations able to manage huge amounts of capital and command large workforces, while influencing government priorities. Efficiency is gained by size and access to raw materials as well as the access to markets that is gained by using government mandates. This view of economics has been taught since World War II and there are millions of pages of text detailing the potentials, the patterns, and pitfalls. It is often labeled “capitalism” though, like China’s uses of markets, it is only that in passing.
What could go wrong?
There are those who think this arrangement is just swell. Look how big and powerful we have become using these methods. Look on our works, ye mighty, and despair!
This view is usually promoted by individuals at the upper levels of the food chain, political insiders, and members of established families with sufficient wealth to see them through the ups and downs of an economy based on the myriad uses of power. It’s the way the world works, they say. The way it’s always been. True enough, it is really not so different from 15th-century Italy, is it? The internal combustion engine and the airfoil changed some of the uses of power, but not the big picture.