Debtism

My high school economics textbook defined capitalism in contrast to what it called "landism" and "laborism." Capitalism, according to the author, is not so much a free market or unregulated system as it is an economy driven by capital., In other words, the most powerful movers aren't those with the largest workforces or most land, but the most available money.

I have been reminded of this while reading about our current economic situation--for banks and other institutions got into trouble because they didn't have the capital necessary to pay back their debts. To maximize their capital, they borrowed more than they could sustain.

The federal government is no different, as the President's budget announcement has reminded us. For a quick review, here is the annual budget deficit calculated since 1960. It is now around $12 trillion.


Yet business and government are not the only two institutions using this model. Average Americans are also. As we can see from a second set of numbers, the federal debt is lower than--but apparently following--another trend. Consider the federal debt placed alongside household and non-profit liabilities (i.e. not business debt), which is now sitting around $14 trillion.

It would appear that, rather than electing politicians who go to Washington and start to spend, we elect those like us who merely continue the habits they practice at home.

And this doesn't even include the trillions upon trillions of business and banking liabilities currently supporting (at least in theory) this capitalistic economy. That is a whole separate post. But Aristotle postulated that there are three types of state (monarchy, aristocracy, and democracy), and each type has a good form and a bad form. Might the same be said of economic structures, where "capitalism" may be a type, but having a good and bad form? If so, is it just possible that we are moving into that bad form, something akin to debtism?

Best Superbowl Ad

Maybe it's because I know so many people getting into the film industry, but I thought this was the most cleverly done super bowl ad this year.

However, the title of best ad must go to someone else: Crysler. Normally all car commercials are the same--a car driving down the road with a voice over. And in that respect, this one is no different. Yet the content of the voiceover is, in this case, unusual. No talk of price, or mpg, or how much it costs, or how much it doesn't cost. Rather, it appeals on an entirely different level.



Now, I've lived in Michigan for six months, and this is an attitude I haven't seen much of--which is probably why I found it so surprising. This state is depressed in more than just economics.

But this commercial says something else--beyond the assembly line and waiting for someone else to fix the problem. It appeals to a historic greatness of a particular city; for from the stories I hear, Detroit used to be a great city. And now, this city wants to again take its place with the other great cities. Maybe this formally great city, the city where Reagan was nominated for President, can be great again.

"Imported from Detroit" poignantly reminds us that Detroit is people, Detroit is our neighbors. And it captures not just the suffering, but also the dignity, of those neighbors.

Happy 100th Birthday Reagan!

They will be showing this in the stadium before the Super Bowl tonight. It is a fitting reminder of a great American who proved the American Dream and who truly believed in America.

Super TV

Tomorrow is the Super Bowl and, of course, I am rooting for the Packers. But besides my second favorite team being in the game, another thing draws me to this very American holiday: the commercials.

I love watching these 30 second, high production shows. I do not think it is because of the Sesame Street upbringing. I don't think it is because I am a compulsive buyer. And I don't think it is just because marketing is a slight hobby of mine.

I love comparing them. I love guessing what will happen. I love waiting for the Budweiser and FedEx moments. Yes, I know with the downturn FedEx has been opting out, but they always had the best.

In case you haven't figured it out, I just love the commercials. This year, ad that has gained the most pre-game buzz is for a clever, cute, and funny combination called "The Force."

Do you watch the Super Bowl? Why? What is your all time favorite Super Bowl Commercial?

Greetings III

I am the last of the group to pen his greetings. My name is Daniel, and I will be joining these gentlemen in writing for this blog, where we will hopefully deal with the pressing issues of our day. I agreed to participate in this because I was tired of others attempting to co-opt my voice by speaking for me, and so I decided to start speaking for myself.

I too have an educational background in governmental policy, specifically foreign policy, but I chose to pursue a different path. I chose film as the medium through which I could explore and communicate to the world. I look forward to our mutual explorations.

Daniel

Welcome II

Since we're making introductions, I'll go ahead and introduce myself as well. I am currently a law student who is interested in much more than just law: public policy, economics, history, culture, theology, philosophy, and current events are just some of the topics I may very well end up writing about--especially if they all converge. While I cannot claim expertise on all of them, I hope to use this blog to further my own knowledge as well.

I also anticipate reviewing books on those topics as I have time.

-Nicholas