The Centres of Capitalism During its Rise

By Con George-Kotzabasis

@110 Tim Wilkinson—Starting from your last sentence. The great French historian, Fernand Braudel, in his magnum opus Civilization and Capitalism delineates the moving Centres of the World-Economy, i.e., Capitalism, initially from Venice, to Genoa, to Antwerp, to Amsterdam, to London and finally to New York. The propelling force of this movement was the ceaseless ever increasing and greater rolling achievements of these metropolises that were at the centre of capitalist development during which its long duration led, for the first time in history, to the improvement of “the lot of humanity” by raising in leaps and bounds its standard of living. The fact that America replaced Britain as the centre of capitalist dynamism was the ne plus ultra achievement of the United States. Are you a human metamorphosed into an ostrich that refuses to see these facts?

To associate Schumpetarian entrepreneurship with spoliation and plunder is to disassociate from serious intellectual discourse. Plunder is the vocation of pirates not of creative entrepreneurs! 

Will America Rise from its "Comatose" State?

I’m republishing the following post, that was written on October 3, 2008,  for the readers of this blog.
By Con George-Kotzabasis

A reply to a very clever American Open Salon

The Global Credit Crunch and the Crisis of Legitimacy-September 30, 2008

By RCMoya612

RCMoya, after your excellent and resplendent analysis I feel, if I captiously quibble about few points, like a bat squeaking in the dark. First, inequality might have “continued its forward march” but I would argue that it did so on a higher level of general economic prosperity in America following the up till now unassailable historical paradigm of capitalism and free markets that has made the poor ‘richer’ in relative terms, as the distinguished economist Amartya Sen has contended.

Secondly, America’s “hectoring and ignoring” has its counterpart in Europe and in other continents whose countries were strong allies of the US during the Cold War but with the collapse of the Soviet Union have reappropriated their independence both geopolitically and culturally and expressing this in their own hectoring and ignoring against America, thus continuing the irreversible law of the political and cultural competition of nation-states.

Thirdly, I would argue that as long as America continues to be the centripetal force attracting the “best and the brightest” to its shores and not stifling the Schumpeterian spirit of entrepreneurship and “creative destruction”, it will be able to rise again even from the ashes of a comatose state and will continue to be in the foreseeable future the paramount power in world affairs.

And fourthly, the rejection by Congress of the funding plan that would have a better chance than none to prevent the economy from collapsing was inevitable in the present political climate where reason cannot compete with populist emotionalism and when a swirl of weak politicians, like Nancy Pelosi, and, indeed, Barak Obama, are its ‘slaves’.  Only by cleaning out these wimp politicians from positions of power will the political narrative reassert its strength and legitimacy.