Where capitalism has been allowed to thrive it has pulled the world along. We are in the midst of a micro-entrepreneurial revolution facilitated in large part by technology which is cheap and powerful. Please notice how technology is one of the least regulated sectors of the world economy. At least it is right now.
More people think like producers these days than probably ever before. They think more like owners than as employees. This is a very good thing for the economy if we allow the revolution to bloom.
The micro-entrepreneurial shift also has the potential to deeply affect politics in this country. (And the world.) If more people want opportunity, the chance to preform, versus only security, this bodes well for our society generally.
Of course the central planners are doing their best to screw it up, via the central banks and draconian information laws, but I have faith in the collective genius of those tapping away on their laptops and iPads in Austin, Seattle, Ashville, Kuala Lumpur, Luanda, London, Madrid, and Hong Kong.
Viva la revolucion capitalista!
(From The Telegraph)
To the extent that a serious protest vote has emerged, it has benefited parties of the Right, such as Ukip, which, outside immigration and gay marriage, promotes a radically libertarian set of aims. The same is true in the US, where the big beneficiary of the protest vote has been the freedom-loving Tea Party.
To listen to the noise, you’d think American economics were the exclusive preserve of neo-Keynesians such as Paul Krugman and Larry Summers; yet beyond the “madrassas” of Princeton and Harvard, this is far from the case. Among articulate young Americans, you are much more likely to find revivalist free-market thinking than backward-looking belief in interventionist solutions.