January 20, 2017: Here comes David M. Smick, a "global macroeconomic strategist" whose new book, "The Great Equalizer," argues that government should favor small businesses and entrepreneurs over big corporations; it enters the hardcover nonfiction list at No. 8.
The worst enemy of capitalism is…capitalism.
That is one takeaway from financial adviser Smick (The World Is Curved: Hidden Dangers to the Global Economy, 2008), the founder and publisher of International Economy magazine. One of the lessons learned from the recent presidential election is that there is a hunger for populism in the United States, whether of an authoritarian or a libertarian nature. Thus the Bernie Sanders campaign, which held capitalism as an economic system to be the chief author of our woes. However, writes the author, the culprit is not so much the system of private profit for goods and services, but a global machine that has become much larger and more entrenched than anyone might ever have imagined.