In an article published in Harvard Business Review of May-June 1996, about 12 years before the financial crisis of 2008, Henry Mintzberg writes that what happened to the communist nations of Eastern Europe will inevitably happen to the United States because of lack of balance.
According to Mintzberg, communism failed because the nations of Eastern Europe went to the extreme of allowing the states to control every aspect of their economies. Capitalism will meet the same fate because of the same reason in the other extreme direction. When the nations of the West swing to the other extreme in which the market and private firms are pushed into controlling every aspect of the democratic life, the economies of the West will collapse just as the economies of the communist nations collapsed.
“Intellectuals” and academic economists probably derided Henry Mintzberg as many black “intellectuals” now deride Professor West. They now deride Professor West and pump up Barack Obama in similar manner they pumped up Thomas Friedman and his trash about business firms having no ethical obligation to the society and other stakeholders.
Like Larry Summers, Thomas Friedman was worshipped as if his economic opinions were the oracle of truth. As a result, the economic parrots in the academia brainwashed the American children into believing that government and regulations are evil; that unrestrained and tax-free market and profits are synonymous with democracy and capitalism; that outsourcing is good for America; or that cheap products from China are good for the American workers. They produced fancy graphs and meaningless equations with which to cover up their ignorance and stupidity.
If sending our jobs to China is good for us, why then do you borrow from China instead of China borrowing from you? If Mintzberg’s conclusions were in fact false, why then are your cities and municipalities out of money? If your extreme form of capitalism is good for the rest of humanity, why is it that you used our tax monies to bail out your friends in the Wall Street? Why is it that 60% of your recent college graduates are out of work and your PhD holders working in factories where their skills are being underutilized? Do you really understand your own definition of efficiency as you preach in your own economics textbooks?
After reading Professor Cornel West’s criticism of Barack Obama and the reactions he elicited from some of these educated illiterates, I came to the conclusion that Barack Obama is being set up to take the blames for the illegal and treasonous actions of some evil people. About twelve to twenty-four years from today, historians will look back and blame Barack Obama for allowing Cornel West’s prophecy to become a reality. The blames have started already – simply get a copy of Piers Morgan’s broadcast of May 19, 2011:
Piers Morgan
Piers Morgan
Whether you like it or not, future historians will ask the same question posed by Professor West:
“Can you imagine if Barack Obama had taken office and deliberately educated and taught the American people about the nature of the financial catastrophe and what greed was really taking place?”
The question is similar to the question I asked here on this website concerning your handling of Sherry Sherrod’s incident: Why is it that you have the information in your archive that would have completely exposed Andrew Breitbart, but you failed to act on it?
As Piers Morgan said, it is either you are completely stupid or naïve or incompetent. There is no other alternative explanation for your dubious and callous behaviors and actions.