Rage Could End Up Hurting Us

摘要

The story of american capitalism is, among other things, a love-hate relationship. We go through cycles of congratulation, revulsion and revision. Just when the latest episode of revulsion and revision be-gan is unclear. Was it when Lehman Brothers failed? Or when General Motors pleaded for federal subsidies? Or now, when AIG's bonuses stir outrage? No matter. Capitalism is under siege, its future unclear.Joseph Schumpeter, one of the 20 th century's eminent economists, believed that capitalism sowed the seeds of its own destruction. Its chief virtue was long term-the ability to raise wealthand living standards. But short-term politics would fixate on its flaws-instability, unemployment, inequality. Capitalist prosperity also created an oppositional class of "intellectuals" who would nurture popular discontents and disparage values (self-enrichment, risk-taking) necessary for economic success.