Let's Make Money, But Not Too Much Money, Ted

David Brooks' latest column contains some interesting points. "Interesting," of course, being academese for "batshit." The Bellman cover Bobo's call for a strong "public" hand to guide the markets while decrying "heavy-handed government regulation."

I'd like to focus on Brooks' complete misunderstanding of free market capitalism. He seems to be under the impression that the goal of capitalists is not to make the most money possible in the least amount of time. Instead, the default position of your average capitalist is set at restraint and self-discipline. Unfortunately, this crazy 21st-century, flat economy has got everyone all fired up to make money.

We’re living in an age when a vast excess of capital sloshes around the world fueling cycles of bubble and bust. When the capital floods into a sector or economy, it washes away sober business practices, and habits of discipline and self-denial. Then the money managers panic and it sloshes out, punishing the just and unjust alike.

I'd also like to note that there is, apparently, and "excess of capital" in the world. Men that cocktail with Brooks know that when there is just the right amount of capital in the world, then a man is able to maintain his habits and justice reigns. Too much capital, however, and things go haywire. Unfortunately, Brooks does not offer any clues as to the appropriate amount of capital that should be sloshing around the world or how we might go about eliminating the excess. One suspects, however, that when Western European men were in control of all the capital, things were pretty good. Now that you have all these Asians, Middle Easerners, Russians, Indians, and (sweet jesus) Venezualens with money, things are truly going to hell.

Then there is the issue of the "just" capitalist vis a vis the "unjust" capitalist. The just capitalist, you see, protests the dissolution of sober business practices. The just man understands that there are limits dammit! You can drive an SUV, but make it a Navigator or a Lexus GX. Not an Escalade or (heaven forefend) a Hummer. The just business man wants just enough regulation to keep the money flowing, not no regulation at all. The just business man understands that it is okay to exploit the hell out of the poor, but when you do things that damage other men of a certain stature, well that just goes too far.