It’s pretty hard to pull this off, but the titans of American industry have made Herbert Hoover look like a very wise man, at least when he said: “You know, the only trouble with capitalism is capitalists; they’re too damn greedy.”
But we shouldn’t consider Hoover rehabilitated. Not quite yet. The video clip below suggests that in Japan the CEOs have figured out how to run their capitalist system with a degree of humility. And they’re doing it voluntarily. That’s a news flash that you can send to our political leaders before they funnel more taxes to mismanaged institutions with no real strings attached.
(A quick PS: Europe’s leading philosopher and sociologist recently spoke in the German press about the financial crisis and what it means for the future of our globalized society. You can find an English translation here.)