Thursday, June 6, 2013

Crony Capitalism

Introducing Alexander Hamilton (1755-1804), the importer of the myths of British mercantilism and the founding father of crony capitalism on American soil. 

Hamilton's economic ideas evolved on huge public debt and excessive printing of paper money. Such economic policies were followed by almost all governments of the world and particularly evident in the Philippines during Marcos' time. It's good that 2008 global crisis has now provided the world the platform to look back into the real cause of existing economic mess. Unfortunately, we lack statesmen today with the calibre of Thomas Jefferson (1743-1826) and Andrew Jackson (1767-1845) who were economically informed and equipped to demolish the misleading reports of prestigious institutions even the likes of Forbes.com and the Wall Street Journal. The lone voice of the retired US libertarian Congressman Ron Paul appears to be not sufficient to change the mind of the American public and the world. The message of the member of European Parliament Godfrey Bloom that printing money is a crime remains unheeded. Perhaps, our generation will be forced to listen once the foresight of Lord Christopher Monckton took place. He said, "If you thought the crash of 2008 was bad, think again. The crash that is coming –I cannot put a date on it, but it is not far away now – will be orders of magnitude worse."


References: