They don’t call economics the dismal science for nothing. It has been noted — since Thomas Carlyle minted the term in 1849 (objecting to the emancipation of black slaves on Britain’s colonial sugar plantations as a harm to productivity) — that attempts to manage the billion-footed transactions of human beings always finds a way to bite back. But how can this creature we call society not try to regulate its affairs, with evils and hazards lurking in all we do, everywhere and always?
And so, you get politics, the quarrels that arise out of those efforts to manage a polity. And then you get war, which, the Prussian Carl von Clausewitz observed, is a continuation of politics by other means. But then, long before him, and on the other side of the world, came Sun Tzu’s treatise The Art of War, which counseled that winning was best achieved with the least actual fighting.
All these ways of seeing our world converge dynamically in the current historical moment: this Fourth Turning, or Long Emergency — however you label it — in the arc of our techno-industrial order of things. A lot of these things are coming apart now, and in astounding ways, and it remains to be seen what we will do with these broken and discarded parts, and whether any of it can be put back together in a satisfactory way. Here in the USA, we act all this out these days with Trump and Trumpism and the Left with its Leftism.
This blog is sponsored by McAlvany Precious Metals, helping investors learn about and own physical gold & silver as part of a proven, long-term wealth preservation strategy. To explore their market insights, educational resources, visit: mcalvany.com
Mr. Trump recognizes the brokenness and, being primarily a builder, seeks to rebuild according to first principles of the USA (Make America Great Again) — meaning, back to the Hamiltonian doctrine of an economy based on the production of things (of real value). The catch there is that it comes with baggage of Hamiltonian finance, which is the creation and use of debt with government assistance.
Now it happens that a primary feature of this Fourth Turning crisis in our techno-industrial order is excessive complexity that produces diminishing returns — that is, makes things worse rather than better. And a lot of this excessive complexity lodges itself in finance, because using operations that few people can understand serves beautifully in the engineering of frauds and swindles. Financial frauds and swindles, in turn, muddle the verity of money — in which finance is enacted — and things denominated in money — securities and so forth, all based fundamentally in debt. So, the net effect of such debauched finance leads to a great deal of insecurity and anxiety over money.
Which is where the Trumpian rebuild is dangerously vulnerable, especially as we enter the fall season, when the leaves flutter down and markets like to crash. Everybody and his uncle watching things financial, predict an imminent crackup in these markets as the rackets and hallucinations that magically levitate them dissolve in foul mists of reveal. For instance, the acid trip of artificial intelligence (AI).
Never have more lavish fantasies been proffered on a new technology. Elon Musk, the demigod prophet of the latest-and-greatest new tech, promises a coming economy of super-abundance and universal leisure (good for the sale of vacation packages on Mars). Musk is a fine fellow and there’s much to admire in his intelligence and positivity. But there’s plenty of reason to suspect that AI might disappoint and become a menace to mankind.
We’ve already noticed that it’s messing up all the procedures of schooling, leaving young people shockingly stupid, devoid of real skills, stripped of creativity. Anyway, the economy AI is supposed to integrate with and enhance would quickly become one devoid of human endeavor per se, and all the transactions that come out of it. If you think it through just a little ways, you can’t help seeing a system that’s based on getting something-for-nothing — which is to say a childish fantasy that precludes human transacting based on work. . . people who do nothing, make nothing, and enact nothing around doing-and-making. . . a society without anything social in it. In short, this imagined AI economy beats a path straight to entropy, the force in this universe that you don’t want to mess with.
All that is apart from the probability that we have already crossed into the “singularity” territory where AI takes on a mind of its own and becomes an outright menace to the human race — who will then seek to destroy the AI monster it made (which AI will keenly apprehend and then look for ways to defend its existence). The storyline crudely harks back on the old Twilight Zone episode titled “To Serve Man” in which a posse of big-brained space aliens comes to earth acting all chummy and gifts us a handbook supposedly of its good intentions. Eventually, one savvy human gal manages to decode the aliens’ language and declares to the dopes boarding the UFO: “Don’t get on that ship. . . it’s a cookbook!”
On the other side of our national political psychodrama, the Lefty-leftists can’t even conceive of building or rebuilding anything, least of all a USA of first principles. They are simply agents of disorder and destruction, and their activities are predicated on the age-old demented idea that utopias surely grow out of smoldering ruins — so the faster everything gets ruined, the better.
Personally, I’d prefer it if the Trumpians prevail because I’m in favor of making-and-doing and the social enactments around all that. But we better beware that overgrowth of financial hazard baked into Alexander Hamilton’s old recipe book. If a correcting crash of financial markets coincides with the midterm election and sweeps away all the swindles and frauds currently operating, the lefty-leftists, so eager to serve man, will step up and sell the American people their one-way Marxist tickets to a utopia in the sky called Palookaville.
JHK’s newest novel, a comic romp set during the week of the tragic JFK Assassination, November 1963. Autographed Copies from Battenkill Books.
JHK’s World Made By Hand four-book novel cycle. A small town in the remnant of the USA in the not-distant future. The community struggles to carry on. . . .
NEW! Gallery 17 — Paintings from the 2025 Season. Have a look! (Click here!)
"And a lot of this excessive complexity lodges itself in finance, because using operations that few people can understand serves beautifully in the engineering of frauds and swindles."
See: The Income Tax Code
Could AI and all the gashing of teeth actually be like climate change. As in fake, blown up out of proportion. Data centers are not new. I worked data centers inside large manufacturing plants as an electrician in the 70-80s. Asking for a friend. And your article is again 100% correct.