Who speaks? What is European economic record?
Europe is no place to look for economic widsdom. What they mistake as a M.A.D. strategy is in reality co-dependency, which operates for the good of all. The presence of defects does not invalidate a process. There were plenty of defects in the German WWII submarine plan. The process was brilliant. The execution was admirable. It's defects were fatal.
A capitalist economy, because it relies on the interdependence of people operating in their own self-interst is resilient, simply because it has so many independent contributers to the system. It is loss-tolerant, operates above logic (what works, works, almost randomly tried), optimizes allocation of resources and allows universal opportunity to leave class boundaries because it is a meritocracy. In the US, we are learning how much stronger and more beneficial is the private economy than government manipulation. So long as government confines its actions to eliminating fraud, ensuring that opportunity is not denied for reasons of race, creed, or religious belief, runs the police force and the military, it is doing its job. Competing or eliminating business is just tyranny. Economic rights are as important as personal rights. Individual rights to life, liberty and property are the center of public good.
|