The Financial Crisis Comes Home To Roost on Pennsylvania Ave...

New Hampshire leads the Way - Throw the Bums OUT!!!

What we have here is Crony Capitalism and a Failure of Stewardship and Statesmanship...

Capitalism 4.1

EVOLVABILITY - What MARX did not understand is that conflicts can be resolved... Emergent Systems EVOLVE...to a new state ....not equilibrium....

Modular-Finance™, Emergent Systems & The Theory of Reflexivity

"Economic pluralism and political pluralism seem, in principle, separable. But there doen't seem to be any examples of being able to sustain one without the other."

Hat Tip ~ John Kay, British Economist

Railroads and Hegemons - "Globalization needs political patronage"

- Capitalism 4.0

A third clear difference between Capitalism 4.0 and the preceding versions of the system will be an understanding that markets and governments are both imperfect and prone to error. Acknowledging this inherent fallibility will not be paralyzing, but empowering, provided the new model of capitalism encourages experimentation and proves able to adapt to unexpected events. This capacity for institutional adaptation and ideological flexibility should be one of the distinctive features of the mixed economy of Capitalism 4.0. Competitive markets operate through trial and error and quickly correct small misjudgments. In politics, democratic competition plays a similar error correcting role. But markets can magnify errors instead of correcting them when herd instinct overtakes investors - and the same thing can happen in democracies when one ideology overwhelms all political debate. In a fast-moving, interdependent, and inherently unpredictable world, skepticism, experimentation, and flexibility are crucial. Adaptability and the willingness to admit errors will become a cardinal virtue in politicians and central bankers, as well as in businesspeople and financiers, in the world of Capitalism 4.0.

The Economic System Surrounding Artifacts and Designs

Modularity

From Washington to Beijing... Central Planning versus Markets..... Rhetoric vs Reality... Who's Zooming Who...

The term "planning" is often used to describe an economic system where the key decisions are made by political authorities, whether these are democratically elected officials or representatives of a communist or other totalitarian government. However, there is just as much planning engaged in by owners and managers of private enterprises under capitalism. The difference is in who is planning for whom. In a free market economy, millions of consumers, business owners and managers, investors, and others have their own plans - each for his or her own well-being, leaving the overall coordination of these plans in the economy at large to changing prices and the economic incentives that these prices provide for mutual accommodation. What has generally been called "planning" has been central planning - planning by a small group of officials for the economy as a whole.

Why is this important?....because today economies around the World - includiing The United States of America - are being run by Central Bankers...ie Central Planners...