Wednesday, April 28, 2010

Richard Edelman - 6 A.M: Capitalism 4.0

Capitalism 4.0

I spent the weekend reading the final draft of Anatole Kaletsky’s book, Capitalism 4.0, due out at the end of June. Kaletsky, a columnist at the Times of London and economist serving the financial community, has given us a brave prognosis on the future relationship between business and government. His thesis is that “Instead of separating the State and private economy, Capitalism 4.0 will bring them into a closer relationship.”

No surprise here, you think. Business screwed things up in the period of deregulation. The world is moving back to heavy government regulation. According to Anatole, you would be wrong. “The size of government will have to shrink, even as its responsibilities and influence expand… One reason is the size of deficits created by the crisis... A deeper cause will be the inability of bureaucratically inflexible big government to meet society’s ever-changing demands.”

So where does this leave business? Continue reading: Richard Edelman - 6 A.M.

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