CAPITALISM & GREED

The latest episode of “Jennifer Byrne presents” isn’t on the web as I write, but her latest book club discussion, on the subject of greed, was most entertaining.

Entertaining but frustrating.

Jennifer’s guests were writer Shane Maloney, adman Geoff Cousins, adwoman Dee Madigan, and Boost Juice founder Janine Allis.

Cousins has shown that he is a businessman with a conscience, and provided worthy contribution to the discussion, but seemed to believe there’s no workable alternative to capitalism.

Where Cousins and Janine Allis seemed to define greed as excessive capitalism, Shane Moloney thought capitalism was inherently flawed, as it is, but he couldn’t propose an alternative.

Clearly, Jennifer and her guests had no knowledge at all of Georgism – i.e. genuine free enterprise, sans rent-seeking, which corrupts capitalism.

Janine Allis went as far as to say there’s nothing wrong with banking – even though it is the beating heart of what is fundamentally wrong with capitalism: the industry sans pareil at capturing unearned ‘super profits’, or economic rents – via mortgages which are based on the ‘security’ of a bubble in land prices. [!]

We went back to BC with greed, but not to where Leviticus tells us land must be rented, not sold in perpetuity.

How on earth do we solve the tremendous problem of so many people being ignorant of private rent-seeking – the very mechanism that has driven world economies into collapse?

Any workable answer gratefully accepted.

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