Barry Brownstein is professor emeritus of economics and leadership at the University of Baltimore. He is the author of The Inner-Work of Leadership. He blogs at BarryBrownstein.com.
Recent Articles by Barry Brownstein
Statism, the rule of law, and the breakdown of Western civilization
In a recent interview, legendary investor and author Jim Rogers forecasts a financial market crash that would be the “biggest in my lifetime.”
Such dire forecasts are not hard to find, but, with the stock market hovering at all-time highs, it is easy to dismiss doomsayers. Given sustained, problematical monetary and fiscal policies, the odds of a major crash are not insignificant.
Here is the chilling part of the interview:
Henry Blodget: We are in a situation where Western civilization already seems to be possibly collapsing, even with the market going up all the time. Often when you do have a financial calamity, you get huge turmoil in the political system. What happens politically if that happens?
Jim Rogers: You’re going to see governments fail. You’re going to see countries fail, this time around… You’re going to see parties disappear. You’re going to see institutions that have been around for a long time… Gone.
Are Rogers and Blodgett engaging in hyperbole? Perhaps not. Western civilization has been moving steadily away from respect for one of its principle foundations: The rule of law.
In his classic book, The Road to Serfdom, Nobel laureate Friedrich Hayek warns...
