“How the powerful took the capital out of capitalism” is a fascinating article. It really conjures dreamy thoughts about how globalization will affect day-to-day living 100 years from now. As ownership dilutes, capitalism and communism merge on a practical level. Citizens become owners via the stock market, but instead of utopia, we are left with instability. The transition from feudal economies to this theoretical capitalism removes the physical from the equation. I’m definitely not saying that things work out for the better, or even that the playing field becomes level; to the contrary those with the flexibility to adapt become the top dogs.
I wonder how influential the switch from the gold standard to the general economic growth standard affects the migration of capitalism to the ownership of abstract concepts? For the first time, I really think I’m starting to get economic theory. I’d still prefer to own something tangible (like property), but unless I’m willing (and able) to own abstract concepts (read: stocks) I’ll miss out on the real game of capitalism.
