The root of capitalism is trust
In Great Riches and Low Theft, the author makes the point:
It’s an odd fact that our capitalist system–our brutal, unsentimental, Darwinian, sink-or-swim system–relies almost entirely on its protaganists’ ethical behavior to function. Our entire economy relies on trust. You probably don’t think about this much. Most people don’t think about it at all. I think about it a lot. What I do–what all VCs do–would not be possible without the honest behavior of an overwhelming majority of founders. If even 10% of founders decided to start cannily lying the entire startup ecosystem would come tumbling down shockingly quickly.
Chuckles makes the point that it’s never about anything BUT trust and that is so. My stepfather had a printing business and it turned around his not taking on the impossible – something done by yesterday – but on doing jobs smartly and properly by the date and time stated. His whole business was predicated on that.
Trust.
The criminals in Washington and London have no concept of that. They are not capitalists in the sense of loving the system as best for all but are predatory sharks, global socialists who see themselves at the top, subject to no rules and regulations. They are an entirely different species to my stepfather.
Filed under: Chuckles
I agree. Our tick-box culture shows a ghastly, bureaucratic lack of trust. Yet apart from anything else, it is efficient to rely on trust. Things get done because promises aren’t broken with impunity.
It seems to be characteristic of the political left that they don’t really understand the importance of trust. Speaks volumes.
Absolutely. Have just seen a list of attributes an HR dept said employers look for. Well if they do, they’re not going to get anyone good for any length of time. I suspect successful employers don’t.
Trust is the cornerstone of most civilised life, and it is something that is earned, not simply demanded.
However, I must point out that we have not seen Capitalism anywhere in the world since the late 50s. What we have seen since then, and currently have, seen totally destroying that trust is Creditism/Corporatism.
Capitalism is based on Capital – working, earning, saving and spending/investing. It is NOT based on borrowing to spend and certainly not on borrowing/spending beyond everyone’s means.
Absolutely.
Totally agree with IPJ.
http://www.zerohedge.com/contributed/2013-01-08/9-step-process-bankers-use-force-global-slavery-upon-humanity
Hmm, I don’t think predatory greed is exclusive to government agencies in Washington and London, is it, James?
Clearly some private corporations are also inflicted with this disease – AIG, Goldman Sachs and Bank of America were proof of that
As IanPJ said, trust must be earned – or earned back, in this case, after breaking our trust.