At some point, whoever is in power will abuse it. The difference is that when corporations abuse power, there's usually a check and balance, whether it be lawyers, govt, or media, to rectify the situation.
The problem with a govt with too much power is that it has limited check and balances, especially if the govt controls the media and individual liberties such as gun ownership.
I think the article misses the important concept of a middle ground. A strict moral authoritarian govt is as undesirable as a strict amoral unauthoritarian govt. On one hand you have the Taliban, and on the other hand you have hedonistic Europe. Both will fail.
I think America is unique in that it had (maybe still has) found the perfect balance between a culture of individual freedoms and a culture of Christian morality. The Christian work ethic was a perfect fit for capitalism and the antidote for the resultant "pursuit of luxuries."
I do not believe that capitalism can survive without this unwritten Christian ethic. Without this ethic, morality is replaced with a written set of "thou shalt nots" that codifies the behavior of every minutia of our lives. As a result, no longer can business transactions be trusted with a handshake or a mutual understanding. Instead lawyers and juries decide who wins and loses.
This realization is why I switched from being a libertarian to a conservative.
Or at least some kind of basic personal sense of responsibility. IMO that is why the Candadian banking system did not face the potential of system meltdown over bad mortgage securities that our system did. And that responsibility was manifest at all levels. Homeowners can't just walk away from mortgages without facing additional exposure to other assets. Banks held on to their mortgages instead of dumping them on others. Regulators focused on risk management instead of micromanaging the business side. And bankers got rid of exotic investments they could not understand.
Whereas in this country, everyone looks to government as a means to get 'free' money. And that happens whether you are a homeowner who over-extended or a corporate executive who wants all the rewards but wants taxpayers to cover the risk.
But your post is basically spot-on.
Excellent post. I agree.
****The problem with a govt with too much power is that it has limited check and balances, especially if the govt controls the media and individual liberties such as gun ownership.****
This is why you never give government control of guns and money at the same time. Every time in history it has very quickly led to mass murder by the government.