Word: capitalisme
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But no one paid attention. Just as Marxism is being dismantled by its managers, the market is being undone by its junkmen. Or is it? Capitalism seems to thrive on periodic collapses. After all, the Drexel affair is only the latest float in a parade of American infamies. They date...
In 1947 the U.S. gross national product was $235 billion. That's about $1.4 trillion in today's money. Over the next four years America spent $13.6 billion -- almost $80 billion in today's money -- reviving capitalism and securing democracy in Western Europe under the Marshall Plan.
If anyone had told the Americans of 1947 that in 1990 their nation would be more than four times as rich, they would not have been surprised. America, after all, was the greatest country in the history of the world. It could do anything. If anyone had told them, though...
There is no special shame in not being the world's greatest nation. The Swiss and the Swedes lead happy lives. Perhaps, having remained steadfast for four decades of cold war, we have done enough. Prosperous isolation has genuine appeal. But it is embarrassing to hear a President proclaim, as...
America's role in World War II reflected national greatness of a traditional kind: economic and military strength and courage. The Marshall Plan reflected national greatness of an especially American kind: generosity and far-sighted promotion of our own values. To be sure, generosity was not all of it. We...