We Need To Update Our Economic Philosophy!
Let’s review and compare the first principles of Classical Capitalism and our current non-System of Casino Capitalism!
All philosophical Systems are based on core principles which are foundational to the operation of the System. If we briefly review economic history we can identify the Systems of Feudalism (1100 to 1600), then Mercantilism (1600 to 1775), then Classical Capitalism (1776 to 1934), then Welfare Capitalism (1934 to 1973), and finally our current non-System which I’ll call Casino Capitalism (1973 to 2012). Each System has core ideas or principles which make up the philosophy of the System…and which we all try to follow. Let’s review the economic Systems since our founding:
Also, key commodities (such as oil and gas) were ‘priced’ in dollars globally allowing the United States to purchase unlimited amounts of energy for their growing economy. All this led to economic and political excesses and egotism (a form of pride) which created the American Empire and our Super-power status for ruling the entire planet. Pride and psychological egotism within our elected elite (from Nixon, Johnson, Clinton, Bush, to Obama) has created our current unsustainable DEBT, DEFICITS, and SUPER-power Status. From a single Nation of revolutionaries (1776) we evolved into an empire of greed, excesses, and pride (2012). American exceptionalism was viewed as part of our national heritage and the entitlement mentality became ingrained within most of our citizens and our elected representatives.
We are now gradually becoming AWARE of this evolutionary process which has allowed this situation to occur. Other Nations and their people’s are also recognizing that past American greed and excess has prevented their growth and equality from emerging globally. This new AWARENESS is creating new tensions and conflicts all around our planet. The Middle East is now in turmoil. Asia desires our economic benefits for their people. China has recognized that their growth and progress is dependent upon a new economic model for their people. And Africa is in turmoil as they now are becoming AWARE that their future requires more natural resources for their people. American has evolved from a friend of humanity to the GREAT SATAN (in the minds of many).
The past economic model (which favored the American hegemony and expansion) is now starting to be questioned and many sense that this model is quite unfair and regressive for our global society. All the American advantages which emerged after the second world war are now being questioned and being viewed as unfair for a global society. Our control of world resources via our dollar as the global reserve currency is being questioned. Why should the United States of America have this monetary advantage and special status? China, Russia, Brazil, Egypt, Libya, and most of Africa all desire a new economic System going forward. The past model of Keynesianism and Western control of finance is being questioned and being viewed by many as outdated and unfair. Where is all this leading as we move into 2013 and beyond?
Many now recognize that a global economic system has emerged and that our global natural resources need to be shared among all 7 billion people on this planet. The 200 plus Nation-State System is much to divisive and archaic for this new world which everyone now recognizes as our future. This means that we NEED a NEW ECONOMIC SYSTEM for this new awareness. Our global internet and instantaneous communication all around our planet appears to be our future. This means that we need to construct a NEW SYSTEM based on principles that everyone can adopt as meaningful and real. Kingdom Economics is my alternative. Under this System, people come first. Money is relegated to the dustbin of history. And the individual reigns supreme globally. Wealth creation will be multiplied many times from our current levels. The principles of our Founding Fathers (life, liberty, and happiness) will be maximized.
P.S. May 4- 5, 2013 (Saturday/Sunday), is a date to record and remember. The first Kingdom Economics Education Forum will be scheduled at the Ritz Carlton Hotel, Dove Mountain, Marana, AZ. 85658. Website: www.ritzcarlton.com/DoveMountain.
Come and discuss our economic, philosophical, and monetary situation. Contact Kingdom Economics by sending an email to: email@example.com. . Deadline: February 24, 2013 (to register). Cost (of hotel facilities) will be covered by voluntary donations at the event. Registration is free (pay your own costs of transportation and hotel room). Purpose of Forum and Discussion is educational and to promote awareness of our global monetary/economic problems going forward! Abraham Lincoln said: education is the most important area for anyone to be engaged with. James Garfield said: neither freedom nor justice can be maintained without education.