(Commentary posted by Roger Erickson)
What is the form of Capital which is most neglected by so-called capitalists? Social Capital? Any scientist would likely say so, based upon even a moment's reflection.
Just bring up the topic of social species. That sets the reference point for all definitions of capital, leverage, adaptive rate, success & survival. Also, google the term, and see all the recent articles professing to define the novel concept for clueless economists.
Ever seen an macroeconomist OD'd on orthodoxy and blissfully unaware of their own BO
*, policy agility
DT's and ideological sclerosis? Denial is a river in academia and bureaucracy, and it drains into the FED.
Next time you're talking with an economist or avowed capitalists, bring up the delicate subject of the pink Social Capitalism elephant, and ask them if they acknowledge it's presence in the room.
Otherwise, the conversations and literature become increasingly obscure. Take the recent missive from royalty,
** that ancient enemy and then co-opter of formal capitalism.
Prince Charles: reform capitalism to save the planet
Does that not seem a bit hypocritical, coming from faux royalty? After 1000 years of seeking protection FROM capitalism? Why not just keep evolving Social Capitalism?
I'm waiting for the proverbial lightbulb to go on for Bonnie Prince Charles. That magic moment when he says:
"hey; here's an idea: we need Social Capitalism!"
If he was serious, he'd put his silver spoon back where his nether regions are, abdicate, and return the seized lands, possessions and OTHER forms of capital to the citizenry. And then admit that we simply need dynamic tolerance limits on use of EVERY form of "capitalism" as well as all our other tools.
Until then we have more than just pink Social Capitalism Elephants hiding where the sun don't shine.
***
* Banking Operations
** Tom Paine on royalty:"A French bastard landing with an armed Banditti and establishing himself king of England against the consent of the natives, is in plain terms a very paltry rascally original. It certainly hath no divinity in it. However it is needless to spend much time in exposing the folly of hereditary right; if there are any so weak as to believe it, let them promiscuously worship the Ass and the Lion, and welcome." [Actually, Tom makes royalty sound remarkably like NeoLiberal capitalism.]
*** "Vast stolen silver hoard found when royal Prince moons a tourist."