Wednesday, January 7, 2009

Scott Adams on Capitalism

Dilbert creator Scott Adams posted The End of Capitalism and then follow-ups: Call It Phase II of Capitalism and Investing in Individual Stocks. These are interesting thought experiments about restrictions that might be placed on us. Adams isn't suggesting these changes, but is predicting that some of them might come to pass.

One of the most interesting parts of his argument is the idea that the speed of the Internet and the complexity of connections have created a financial system that can't be regulated.
The economy is now too complicated for even the regulators to know when a con or a huge mistake is happening.
This is a sobering thought, but one I think is on target. Regulatory groups need to figure out a way to design themselves for change. They can't just set up a bunch of regulations and assume they will stay relevant and helpful.

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