Check out the following story on the Economist’s website, The next capitalist revolution. In it, the editors argue that inactive, non-interventionist, libertarian governments have kept their hands off corporations for so long that capitalism is now in serious trouble. Instead, of competing with one another, as they should under capitalist doctrine, they are monopolies that increasingly dominate industries and fail their customers.
That would seem obvious to anyone who has tried to deal with some of our more massive business enterprises of late, but the fact that this article is in the Economist is what’s amazing. That venerable magazine has long been a champion of unfettered free markets. For it to now open its pages to an op-ed piece basically calling for a rethink of those same unregulated practices is stunning.
So, who is to say? Maybe some sort of real change is coming. When even the Lords and Ladies of the Realm realize that their thrones are unstable, maybe…just maybe…there will be a little long overdue work on foundations.