There Won’t Be Any Winners Because The Status Quo Is Corrupt Everywhere – Silver Doctors


Systemic corruption on this huge scale optimizes failure and collapse…

 by Charles Hugh Smith by way of Of Two Minds

Systemic corruption on this huge scale optimizes failure and collapse.

Debating which nations will “win” as the worldwide financial system unravels is a well-liked however pointless parlor recreation. Since the established order in each nation is deeply, profoundly, systemically corrupt, there gained’t be any “winners,” there’ll solely be losers.

Apologists like to say that corruption has at all times come hand-in-hand with energy, and that is superficially true. As soon as a centralized hierarchy takes energy, these in search of self-glorification and wealth search energy as a way to their self-enrichment and glorification.

Naturally, they use their energy to reward those that helped them achieve energy and people serving to them keep energy. So a small Texas contractor who contributed to Lyndon Johnson’s political profession was awarded immense contracts to construct bases in Vietnam throughout Johnson’s huge enlargement of the Vietnam Battle. It’s simply enterprise, proper?

However this naive, superficial normalization of corruption ignores the consequential distinction between two forms of corruption. One type is directing soft positions and contracts to cronies: well-paid positions on boards are given to friends, fats contracts are awarded to political allies, and so forth. The purpose right here is that anyone was going to get the soft place and the fats contract anyway, and so the corruption is in who will get the gravy.

This degree of corruption has a systemic value. Bribes paid to safe contracts and subsidies act as a “tax” on the financial system, because the bribes add expense however don’t ship any enchancment in high quality or amount. When essentially the most certified candidate or agency is handed over to favor an unqualified crony or ally, the loss in effectiveness is consequential, although tougher to measure.

The systemically harmful sort of corruption is on a very completely different degree. Systemic corruption deforms the core financial capabilities of governance and capital to complement insiders on the expense of the nationwide curiosity and the widespread good.

When corruption hollows out a nation’s army capabilities, that undermines nationwide safety. When shoddily constructed gear is stripped of worthwhile elements (to be offered on the black market) to the purpose it’s now not of any army worth, corruption has a value that’s incalculable till it’s too late to restore the rot. When armament contracts are given to construct inferior weapons techniques to profit cronies, corruption has optimized shedding the subsequent battle.

When corruption is the deciding consider distributing the nation’s capital, that mal-investment of irreplaceable assets in unproductive tasks fatally undermines all the financial system. When corruption funnels nationwide assets into poorly constructed bridges to nowhereghost cities and monuments to extra, there are alternative prices that may by no means be recovered, for all that capital and labor may have been invested productively.

Corruption turns into deadly when these in energy are now not capable of distinguish the distinction between self-interest and the nationwide curiosity. Systemic corruption blurs the strains and persuades these in energy that their self-enrichment and energy grabs are serving the nationwide curiosity.

The reality is their distorting the system to maximise their personal achieve can’t probably serve the nationwide curiosity or the widespread good. It’s one factor to reward a long-serving crony by appointing the pal to a soft no-real-work-required place on a crony-filled board with little precise energy. It’s one other to distort the distribution of irreplaceable capital and assets to maximise the self-enrichment of the corrupt few because the expense of the various.

Systemic corruption on this huge scale optimizes failure and collapse.

In my e book International Disaster, Nationwide Renewal, I argue that the one nations that can survive the transition from a waste is progress financial system will likely be these which embrace Degrowth. We are able to additionally say that solely these nations which achieve limiting systemic corruption could have the means to speculate their nation’s dwindling assets productively.

Since no nation is exhibiting any consequential curiosity in both Degrowth or eradicating systemic corruption, there will likely be no “winners”, there’ll solely be losers. Whereas the established order careens into decay and collapse, a minimum of we are able to enrich ourselves by chasing the Pelosi Portfolio.

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