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The Major Challenge of Modernity
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Gideon Rose, the editor of Foreign Affairs, recently wrote
that the troubles of modern society "are real, but not ideological: they relate
more to politics than to principles.
The postwar order of mutually supporting
liberal democracies with mixed economies solved the central challenge of
modernity, reconciling democracy and capitalism."
This was a huge feat, since democratic society is built on
the electoral voice of the people and capitalism naturally gives special
benefits to the wealthy.
This accomplishment was effective because the United
States promoted a certain kind of capitalism, one based on real free enterprise
where the laws treated all--rich, poor and middle classes--the same.
In fact,
this is not technically capitalism, but in the U.S. we used the terms
"capitalism" and "free enterprise" so interchangeably that the ideas became
intermingled.
Most Americans believe that capitalism is where the economic
laws treat everyone the same; in fact, this is free enterprise.
Rose is correct
that this combination of free enterprise and democracy overcame the conflict of
rich versus the masses and was the fundamental basis of American success.
The
lower and middle classes who make up the masses naturally support both
democracy (where the masses oversee the government) and free enterprise (where
the law treats the masses the same as the wealthy).
Unfortunately, we are now facing a bigger challenge: Getting
the masses to support both democracy and a more aristocratic style of
capitalism where the laws benefit the rich more than the rest.
Rose wrote:
"We are living, so we are told, through and
ideological crisis. The United States is trapped in political deadlock and
dysfunction, Europe is broke and breaking, authoritarian China is on the rise.
"Protestors take the street across the advanced industrial democracies; the high
and might meet in Davos to search for 'new models' as sober commentators ponder
who and what will shape the future."
Rose takes on these widely-held views in an interesting way.
He argues that "the true narrative of the era is actually the reverse--not
ideological upheaval but stability."
This is a fascinating article, and I highly recommend that
everyone who is interested in the future of our economy read it and the whole
section on The Class of Ideas (Foreign Affairs, January/February 2012).
The leading vision of
governance is still focused on "the rule of law, limited government, and free
commercial interactions."
These ideals remain our hope for more prosperity and
freedom in the decades ahead.
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Social Leader Daily by Oliver DeMille
