On September 16, 2008, American capitalism officially died. That was the day of the $183 billion takeover of global financial products company AIG. But it wasn't a bank, a government-sponsored enterprise or an automaker. So what was it? An insurance company...and it insured mortgage securities for Wall Street firms by the trillions. Capitalism's number one rule for private enterprise is to do or die on its own. When the U.S. government bailouts violated that rule it meant all bets were off! Blogger Monika Mitchell examines how modern "capitalism" is ready for a much needed tune-up.
Once upon a time in a far off land of sea monsters and fairies, there was a man named Adam. Now Adam was not the First Man. He was, however, the first man in his society to write down his ideas of man controlling his own economic destiny without the heavy hand of kings. Adam was a moral man and wrote that one’s “enlightened self-interest” and innate moral code should guide him in all matters of money and commerce.