Capitalism is the end of capitalists

A meeting of capitalists — always a risky enterprise. Almost 250 years ago the greatest of all theorists of capitalism, the Scot Adam Smith warned that, in the end, everything can only lead to conspiracy, to the detriment of consumers.

The world’s largest collection of capitalists — starting on Tuesday the world economic forum (WEF) in Davos — is fraught with danger for the ordinary citizens of the planet. To a lesser extent the fact that, according to the apprehension of Smith, the big bosses could agree on prices of their products or production volumes.

The risk is that the WEF, with its nearly 3000 members can carry a powerful, but fundamentally wrong premise.

Creators doubt the system

A global poll among big capitalists, the results of which, in Davos on Monday presented the consulting company PwC (PricewaterhouseCoopers), showed that even the economic elite were gripped by doubts about the rationality of the existing system.

But even if the capitalists themselves do not believe in capitalism, if globalization is not unconditionally support those who are heavily promoting it, the world order, more or less market-oriented economy in most of its bases threatened. Even if the capitalists no longer believe in capitalism, it will cease to believe in it.

Top managers have always been pragmatic view of economists. In contrast to these entrepreneurs who invest in and own funds, and to some extent even liable with all its assets, time horizon hired senior staff with their five-year contracts have always been more limited.

The main thing that paid the premium

When the future U.S. President expressed his intention to destroy the state budget for the stimulus, from the ranks of CEOs rather hear applause than shouts of protest.

No objection to the paltry interest on deposits, against violations of the Maastricht Treaty, against the undermining of the multilateral world trade system through bilateral trade deals. As long as only the nearest correct balance, and with it the bonus, justified any violation of the principles.

Hundreds of protectionist measures were taken by the countries of the Big twenty since then, as they do in autumn 2008, in the midst of the global financial crisis, solemnly swore it to prevent them. Almost each of the measures taken is an economic lobby.

Managers are too comfortable

Managers, actively and eloquently in favour of globalization and free market economy, on the contrary, in the afternoon with fire will not find, even in Germany. Managers, defending the principles of a market economy even when they do not conform to their own narrowly defined interests — those still exist?

Managers, not for their own convenience and in defiance of common sense trapped in this fake choir singing that the poor are becoming poorer and the world more and more unjust — this really exist?

Where on earth are the capitalists when you need them? Scary thought, but obviously not in Davos.