In the entire history of the world three variations of feudalism ruled economics: European Feudalism, Asian feudalism, and the tribal organizations of Africa and South America.
The two affecting the U.S.A. are European feudalism and African tribalism. I don't see the tribal influence ending very soon. On the other hand, the end of European feudalism is finally at hand.
Let's examine the changes leading to the end feudalism. Keep in mind, every time the feudal lords screw up the economy they call on the intellectuals to make things ok enough for the feudal lords to take over again. Yet every economic crisis the intellectuals fix, a non-feudal solution springs into life.
Changes Affecting feudalism
- The creation of a society based on law
- The number of trained and talented people to run an economy
- The amount of wealth created in a mercantile society
- Feudal lords were agrarian before industrial revolution
Let's start "Today" around 1880 with the advent of mega businesses such as Carnegie Steel, Rockefeller oil, Vanderbilt trains, etc. using the new mega immigration to America. I'm not going to discuss the growth, strikes and unions, use of government to pay for westward expansion, and all the excitement of this period.
The end result of many years of immigration, education, and increasing government protection of middle-class ready to run the U.S.A. makes the present a time of change to more capable and more deserving people more concerned about the economy's people than just increasing assets to build more feudal control.
What we name the new economic structure will have to involve redefining the word "socialism". Current definitions range all over the place. The most correct? Socialism is a direct confrontation to feudalism. Feudal lords spend mega bucks to define socialism as evil (mostly evil to their way of life).
- The average person is still thought of as a peon with subservient rights to the wealthy
- Follows Ronald Regan and trickle-down economics
- Consolidation of wealth is not efficient
- Allows private equity free run of the economy
- Feudal lords live in urban areas and barely care about farming
Tomorrow is not instantaneous considering the thousands of years of feudalism. Tomorrow just started with the 2020 presidential election.
Dynasties with free inheritances are not efficient for investing and maintenance of a society. Each generation must earn its own wealth. Rarely do children reach the heights of their parents and society needs to be more caring about its wealth.
We'll see the purpose of a corporation will be about stakeholders, not owner consumption.
Where owners can live will center more on living where the wealth is created and owners cannot move away from pollution.
- 90% inheritance tax
- No trickle-down economics
- New family small business structures
- Debt is morally wrong to consumers
- No monopolies without government regulation
| Note: Although the above five areas are treated separately for analysis,
all the areas are continually interacting making all situations individual situations.
Many important parameters are rarely considered by economists and other "professional" people.
So this page is about how we reached the present and what can be predicted for the future.
Much of what you will read will make a great deal of common sense when you see the underpinnings of history and what drives the future.