I think the entire system needs demolishing, there is no point trying to play around with the crap we have right now. This huge centralisation is a behemoth that must fall.
Ironically those who say it's all Adam Smith misunderstand Adam Smith. He advocated free enterprise within a country, not internationally. He was actually a protectionist who had some huge tariffs on US goods at the time.
I agree. It is fundamentally flawed and so far out of sync, there is little that can be done.
This is part of it - but Keynesian economics has the same flaw - at the time, they didn't predict the likes of google or Amazon - these systems just didn't exist. Plus, "production" was required, whereas now there is so much service.
I agree, if you read some of the leading thoughts of the turn of the last century (1900s), the perplexing problem was with what and how to keep the working classes "busy".
This is why the entertainment industry (sport, gaming, shows etc) has boomed - it replaces the "gladiator contests" of Rome.
That's so true. Most people can't fathom it though. oh well!