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Published:June 22nd, 2009 11:12 EST
Where Oh Where has My Capitalism Gone?

Where Oh Where has My Capitalism Gone?

By Scott Bufis

With the president`s new proposal, the Consumer Financial Protection Agency, placing more restrictions on business as well as the continuous bailouts received by so many businesses, it`s time to ask ourselves: where is capitalism going?

Is it dying?

Is our notion of this particular economic system which we have clung to so dearly merely in a state of redesign and renewal?

The idea of a free market is to allow the business and financially savvy to flourish while weeding out the lazy and half-baked.  If a business goes under, that`s just the natural evolutionary Darwinistic process of capitalism: survival of the fittest.

So what does it mean when our government pumps money into the most dominant companies when they begin to fall as, themselves, victims of the evolutionary process of capitalism?  We thought businesses like GM - the largest automotive manufacturer in the world - would never go under.  I suppose we were right - the government is ensuring that they won`t.  Even the State of California has asked for a bailout.

History tells us that communism is a fruitless venture.  Our idea of a free market is changing rapidly.  Capitalism, like all other ecomonic systems, had its heyday, will fall, and be transformed into something new.

Are we facing a kind of hybrid capitalism-socialism which seems an oxymoron?  Does the future hold an end to the currency system yielding to more creative modes of trade?

It is easy to cling to old, seemingly safe ideals.  Instead, let us use our God-given imaginations and creative capacities to progress our thinking instead of regress.