America, Where It Pays to Fail

Not my title, rather it was the title from der Speigel, thankfully it's in English.

How can you not love an article that starts like this:

More than 100 years ago, German sociologist Georg Simmel criticized the banks for being even bigger and more powerful than the churches. His chief complaint -- that money is the new god of our times -- is still heard today. If Simmel was right, and there are some indications that he was, his statement would have to be modified to suit today's circumstances: Not all people pray to the same god.

Among the money worshippers, there are at least three faiths. First there are the Puritans, who patiently carry their money to the new churches, hoping that it will multiply. The average Chinese, for example, deposits 40 percent of his income in banks. What laudable discipline! Then there are the Pragmatists. They save and lend, but only in that order; their savings limit their boldness. This persuasion is especially prevalent in the Germanic countries, where the savings bank is the shrine.

Finally, we have the religious community of the Uninhibited, which is especially popular in the United States. Its adherents readily admit to intentional recklessness, wanton waste and omnipresent greed.

It's amazing how much savage good writing we are seeing these days about American klepto-capitalism.