Authoritarians are good at concocting benign-sounding phrases that mask their desire to impose control on everyone else. One that is very current is “the Great Reset,” which supposedly will adjust the free-market order to make it more fair, more green, more desirable.
Don’t believe it. In this piece for the Independent Institute, Michael Rectenwald argues that the Great Reset would not be benign. He writes, “The Great Reset ushers in a bewildering economic amalgam, what I’ve called ‘corporate socialism’ and ‘capitalism with Chinese characteristics,’ or what Giorgio Agamben later called ‘communist capitalism.’ Schwab and company euphemistically call this system ‘stakeholder capitalism.’”
In sum, it would mean that there would be very little room left for purely private economic activity. The elitists and their interest group allies would have the power to prohibit anything they didn’t like.
Arguably the “stakeholder capitalism” notion is the most dangerous. As Rectenwald writes, “Unsurprisingly, stakeholder capitalism has been seen as a new approach to achieving socialism, even by socialists. ”
He concludes that the Great Reset is doomed to fail and I agree, but along the way it would inflict enormous economic losses and wipe out much of what remains of American freedom.
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