Buddha Incarnated as a German Economist in 1837?

Okay, not really, but over at EnlightenNext, Tom Huston points to Howard Bloom’s vision of how we need to mend rather than end capitalism.
In the midst of our current financial crisis, it may seem natural to cast doubt on the entire enterprise of Western capitalism and wonder if its basic tenets of progress and production have led humanity astray. But according to avant-garde cultural theorist Howard Bloom, writing in EnlightenNext back in 2005, such dismissals tend to overlook the true evolutionary significance of our economic system:
The problem does not lie in the turbines of the Western way of life—industrialism, capitalism, pluralism, free speech, and democracy. The problem lies in the lens through which we see. Capitalism works. It works clumsily, awkwardly, sometimes brilliantly, and sometimes savagely. So we need to dig down to find out why. We need to reveal the deeper meaning beneath what we’ve been told is crass materialism and see how profoundly our obsessive making and exchanging of goods and services has upgraded the nature of our species.
This is a topic I’ve touched on several times in this blog. It’s also fascinating that these basic ideas of retooling capitalism were hinted at by a German named Friedrich List way back in his 1837 book, The Natural System of Political Economy. For those interested, James Fallows covers this topic extensively in his Atlantic article, “How the World Works” .
Fallows writes that List’s alternative economic view offers a way through the obvious “market failures” that old-school, Adam Smith-style capitalism can foster. Could any of us say that Friedrich List was Buddhist in his leanings? Probably not. But as opposed to the dominant Anglo view of economic reality, List’s alternative rests on interdependence rather than what Adam Smith referred to as an invisible hand. Once List’s style of interdependence begins to influence policy, the market can’t be mistakenly seen as God. Furthermore, like Howard Bloom’s some 170 years later, List’s version of economic reality shows us that markets are merely reflections of how we cooperatively meet each other and meet ourselves.





