Whether you regard the necessity of converging capitalisms as a sad doctrine or an uplifting one, itis important tounderstand that the idea is in fact wrong.
On the one hand, although President Barack Obama and his advisers deny there is anything wrong with US-Israel relations today, itis easy tounderstand why no one believes them.
Tounderstand what went wrong, itis crucial to differentiate Adam Smith's model from the mutated form of capitalism that has evolved in the U.S. over the last 25 years, which I call financialism.
Itis, of course, no secret that critics can be wrong, both individually and collectively, but I find it hard tounderstand how the critics who wrote about "The Lady From Dubuque" in 1980 could have been so far off the mark.