Wednesday, March 10, 2010

The Invisible Hand at work

The inherit function of the capitalist paradigm--to find balance (harmony)--is being validated during the recovery from the 'money lender' driven panic investors endured last year. Expectations of "The West" have become more prudential--albeit somewhat vigorously for many individuals--while our Asian counterparts are becoming increasingly perturbed with regard to wages and, both, working and social conditions. As the video indicates, the consequences of the One Child policy initiated by the Chinese are coming home to roost.
The nascent generation of Chinese are no longer prepared to work for low wages and austere working conditions. This 'generational turning' is used to getting what it wants--not impeded by competitive siblings. In the West on the other hand the new generation will be forced to lower expectations since much of their wealth has been effectively confiscated by the Wall Street bail out and ancillary stimulus package.
One generation--one from the East--one from the West--being compelled by free market forces that manifested as result of each society's diametric ethos. This is the inherit economic convergence mechanism that makes capitalism so enduring.
One is to wonder what our politicians and corporate 'mercantilists' will do to inhibit and/or corrupt the natural corrective mechanism of the free market.
The invisible 'hand' works in wondrous ways.
As for as public sector participation, I would be an enthusiastic proponent of an reinvigorated space program on the following conditions
  • The program would have no explicit mission or ultimate goal--although the implicit objective would become self-evident.
  • When each successive spacecraft is ready for its 'mission', the cargo bays would be filled with the current legislative body at the time then launched with great public enthusiasm and revelry.
  • With regard to how and when the mission would return to earth, I suggest that that decision be left in the hands of the passengers. Based on their record it is doubtful whether they would be able to come to a consensus on the matter.
Yes indeed, the invisible hand works in wondrous ways.

NOTE: The latest Forbes list of the world's richest people also attests to the shift of wealth.

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