Merton mentioned in his MIT talk that a soveriegn wealth fund (USSWF) for the US might work as the arbiter of the last resort. But, it, too, could provide some framework that is outside the 'juvenile deliquent' view of business (yes, it's current state in evolution is geared toward the short term and to the glorification of the poster boys and rogues at the top - ah, yes, the supposedly best-and-brightest needing tons of fat [via bonuses, etc.] while the populace is not much more than skin draped over bone).
A world driven by business, with no thought to its employees (this will be focus of People Matters) except that they are resources to be used and discarded, is hell, as we've seen. But, a dictatorship is no piece of cake either. However, we're talking the US, which supposedly exemplifies the God-given major role in extending freedom, in all its aspects.
Where is our pie?
Merton talked about the USSWF as something that could hold assets in the long term, providing relief for asset holders in terms of keeping them from the wolves and sharks.
Oh yes, speaking of the latter, why the hell is it that we allow sharks anyway in the business sense? Let's take that further, as it's been said here been said here before: any who gets out of the markets (yes, as defined by Wall Street and Chicago and ...) more than a certain amount (yes, we can define this, folks) is, by necessity, taking it from others, and probably doing more damage to the many than the collective benefit the fat cat is accruing.
Gosh, what type of parent would allow wolves and sharks amongst their progeny? What does that mean? The common economic weal is not unanalogous the family situation just like we all share, and abuse, the same planet.
Remarks:
07/17/2009 -- China's bucket is 2+ trillion. Ours, over here - the analogous thingee - is a growing deficit. You have to hand it to the Marxists who beat us at our own game of casino capitalism.
Modified: 07/11/2009
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