RE: http://www.firstprinciplesjour...263&theme=home&loc=f

An essay that demands several more readings before one ventures on a detailed response. My engagement with Mr Wilson's argument ranged from hearty agreement to puzzled frustration and back again.

Let me briefly summarize my own thinking on 'capitalism' (a pessimistic history of the 'conservative' resistance to Jacobinism and its bastard heirs might be written around the theme of the Right's capitulation to the vocabulary of the Left). Marx, who was not always wrong and was sometimes acute, says somewhere that in a developed capitalist economy, capital appears not as a social convention but as an independent, objective force--the equivalent of gravity in the realm of political economy. Thus, the inexorable demand of the abstraction capital for unlimited growth is the flywheel of the system, and even the Masters of the Universe, those 'oligarchs' whom Mr Wilson indicts, are at best sorcerer's apprentices in service to this idol.

It should surprise no one that the theory of 'capitalism', given the orogin of the term, is ultimately grounded in the tenets of economic determinism, since the term has its taproot in that false and baleful doctrine.

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