I keep hearing about capitalism having failed us.
I’m afraid this is not possible.
Capitalism cannot fail, simply because it is nothing but a human concept.
It is us who are failing.
It was us who had identified the concept, used it properly for a while and then replaced it, tacitly, with another.
‘Capitalism’ worked wonders, as long as we applied it ‘as advertised’, while ‘monetarism’ – the surrogate we allowed to creep in where capitalism used to stand proudly, has started to unveil its ugly face.
You see, capitalism used to be about ‘faith’. We trusted that ‘the other’ would honestly attempt to meet his end of the bargain. That’s why we used to enter into business deals which were designed (a.k.a. negotiated) to meet our respective needs. We were doing this simply because we had understood that a good deal today – good for both of us, that was, would mean at least another good deal tomorrow.
For some reason – bad money drives out good, capitalism is being replaced, slowly but too fast, by monetarism.
Too many of us start ‘businesses’ with the sole goal of ripping their ‘partners’ of as much money as they possibly can. Legally or otherwise.
Without understanding – or caring, even, that they are actually slaughtering the goose with the golden eggs. Capitalism itself.