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Posted by / 17-Nov-2019 01:44

And such a challenger has arisen in the form of what Ian Bremmer, in his engaging new book The End of the Free Market, dubs "state capitalism."State capitalism, Bremmer writes, "is a system in which the state dominates markets primarily for political gain." From state-owned corporations operating in strategic industries like natural resources or defense, to enormous sovereign wealth funds in the hands of autocrats with opaque operating principles, state capitalism has enabled the world's autocratic states to reap the benefits of capitalist enterprise while maintaining a vice-grip on political freedom.In Bremmer's telling, the world's autocratic states learned a valuable lesson from the implosion of the Soviet Union: command economies do not work and when they fail, they can bring down the over-arching political system with them.

The implicit social contract of state capitalism - you can earn a good living if you don't care about political freedom - acknowledges the urgent need to provide improved standards of living to its citizens. China has managed it for thirty years and may be able to for thirty more, but the inherent inefficiencies and corruption of state capitalism don't augur well for its future. While he mercifully avoids the doom-mongering that often attends discussion of the rise of China or the re-emergence of Russia, Bremmer does make some brief and modest suggestions for U. policy in the face of state capitalist competition.

There was Lee Rosenberg, the president of the American Israel Public Affairs Committee, and there was Alan Solow, the chairman of the Conference of Presidents of Major American Jewish Organizations.

Both also happen to have been major fund-raisers for Obama's campaign, as were several others among the 250 or so in attendance.

In addition to the major givers, the entrepreneurs and the communal leaders, there were also sports heroes -- including Sandy Koufax -- veterans, non-profit innovators, journalists, actors and organizers.

The reception was in the works for months, and planning predated the tensions between Israel and the United States precipitated in early March when Israel announced a major housing start in eastern Jerusalem during an official visit there by Vice President Joe Biden, who also was at Thursday's reception.

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Hot air about Israel Once again Obama proves that he can talk the talk.