American macro-economic policy has centered not on managing the growth of the economy but on de-industrializing it. The levers of policy have been employed not for the welfare of the nation but to maintain stability and power in the electorate long enough to be able to hollow out the national treasure. The financialization rendered the national wealth into a form that made it easy to waste it; then the de-industrialization removed the wealth from domestic shores and executed the actual taking.
America won the Cold War but lost the Cold Peace. China will be the final winner of this Long Century's struggle because China made a pact with the devil. China abandoned communism and replaced it with crony capitalism because that form of capitalism is easier to get the no-longer-industrious American leadership to buy into.
The ultimate cronyism is between the Chinese war lords and the American corporate managers and financiers.
No comments:
Post a Comment