I have been thinking for sometime now the probable path for the future of capitalism (the next stage in the evolution of capitalism post-2008 crash) especially in the area of competitive investment on the future of competitive smart new city-states as ”investment products/assets”.
Each city (e.g. London-Manchester, New York-Washington) seen competing with one another through economic growth and led in front by small or mid-sized private investment hedgefunds working closely with central governments only in upholding nation’s rule of law and constitution.
These new city-states will completely be ‘owned’ and ran by these private investors who will manage these as corporations. Turning every aspects of local governance into profit-making venture for the ”common wealth of respective city/town’s residents”; from private policing (though not judiciary, tasked with overseeing the upholding of constitutional laws and safeguard against individual rights and civil liberties), public works (civil services; parks, housing etc).
I reckon when this is approached and practised diligently and well-thought out it might be a solution to the next stage of modern western capitalism evolution; balancing competitive economies against constitutional rights and thus avoiding the Detroit Effect.
What do you think? Is this the future? Will it work?
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