When capitalism goes on auto pilot

The self fulfilling nature of ratings shows what happens when capitalism goes on auto pilot!

The key to a well working capitalism

The key to a well working capitalism lies in the balanced mobility of financial vs human capital.

Since in the last few decades at world (GATT then TO) and regional (EEC/EU, Mercosur/UNASUR,  NAFTA, etc) freedom/mobility of not only capital but goods as well has increased strongly, while legal ("economic") migration has actually decreased, no wonder for Capitalism's imbalance and thus crisis.

Capitalism is getting old. New product needed.

Is socio-economic "Calvinism" and the related "pure" version of capitalism (see Max Weber) marketable/exportable to a) South Europe and the b) rest of the world outside Europe?

Is it dominant in the US anymore?

It seems not, based on results.

New "product" needed.

Capitalism: My definition

Capitalism is the system where people make money out of money, by lending or investing it and where te most crucial resource for starting and operating a business is financial (monetary) capital.

The transition from manufacturing and other industry to services as well as intellectual (largely non-tangible, non-material) products was supposed to gradually decrease the importance of financial capital in starting and operating a business (services or intellectual products such as music, books/ideas etc) and increase the importance of labour-human capital and the grey matter.

For many reasons, this has not happened. I have and will continue to tweet and blog on the reasons (eg here). In this post I want to emphasize that the extra-time that Capitalism as I defined it has got has produced some  really weird dynamics. Is the strategic option for the US and the EU to save and even regain manufacturing from Japan, China et al, or to learn how to live in a post-industrial era (at least for the "West")?