Laudato Si
There is a theory, and I don’t know where it originated, that capitalism and wealth generation is unsustainable for the mere fact that it takes hard work to create wealth and only brief laxity to destroy it if capital-saving mechanisms are not in place. Think of the spoiled child of rich parents, who never learns why his parents have the money they do, and upon inheriting it squanders it all within two yearson “cars, bling, and bitches.”
I think there is something to this theory. It seems academe and other members of unproductive classes don’t realize how wealth is created and how it will be sustained in the long run. Accordingly, the clamor for socialism and regulation, and it all falls down…
A new chart adds to my suspicion:
Looks like we are in the midst of a rise in the third and developing world. Good!
Bad for us, though. Turns out, the Chinese view freedom more positively than those in the US!