One thing the financial crisis has pointed out pretty clearly is that everyone is connected. “Pure” capitalism, the kind espoused by economists like Milton Friedman, is based on the idea that all the decisions individuals make based on what is most profitable for them will add up to public good. One reason many are looking for someone to blame in the financial crisis, is that the inherent “goodness” of capitalism (with or without government controls) is at the foundation of our national identity.

I sense a paradigm shift in the offing.

I am betting it will start with the notion (more…)