The allure of Davos Capitalism is understandable: bright people solving our problems, ending global poverty and the vicissitudes of the free market. It's the dream, in T.S. Eliot's words, "of systems so perfect that no one will need to be good." No such system exists. Morality is indispensible. Nor would it have worked even if the men and women gathering at Davos truly had been our best and brightest, for no group is good or smart or prophetic enough to manage centrally the billions of opportunities and choices that comprise the market.
28.3.09
See, the thing is, there is no such thing as "new capitalism." Markets are free to flourish, or they're not. Nothing free is managed, and nothing managed free. It may seem a simplistic tautalogical duality, but it's true. Ergo: It either is, or it ain't. Michael Miller at RCP sums it up pretty nicely:
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