Economic Evolution: Darwin's Idiot Speaks

Part 6 of 6

Transfer of our capacity to manufacture goods and mine energy and resources to developing countries served to endorse our virtual assets as we established and dominated new markets with economic colonialism. Ludwig von Mises noted the basic idea of colonial policy in his time was to take advantage of the military superiority of one group or culture over others.  After two world wars, western culture found conquest by capitalism less sanguinary.  Our population’s expectations and lifestyle had exponentially enlarged while those of war-torn countries had exploded.  Both were served by exporting production to lower cost venues where wages and other costs as well as workers’ welfare were lower.  We also developed, enjoyed, and exported our virtual assets of knowledge, technology, and services as well as the newly recognized (by John Maynard Keynes) and apparently critical national asset of consumption.   Much of the rest of the world benefitted from this massive infusion of assets and we …