Capitalism is the ability to do work, such as economic activity, job creation etc. But does an economy and attitude that pushes massive amounts of mortgages, car loans, and loans in general, into financial services, contribute much to job creation? Trillion of dollars sits in financial services, and does very little for the largest industry, consumerism in general.
Do we need a more balanced approach, with less emphasis on efficiency, investor’s returns, and reduced labor costs? Rather do we need a more leisurely pace, and less competitive environment in general for our hugh domestic market? Is the Southern Hemisphere a better role model? Change will only come from the younger generation; and it will require an attitude change.