Capitalism needs to be reconstructed or rather reconsidered in light of the successes it has had in the past, in order to ensure its future as the answer to the problems of the global economy today. It seems strange that everyone is discussing the difficulties of the economic situation without focusing enough on the major points that are necessary.
Firstly, education. The changing make-up of young people due to technology means they are much more advanced at an early age with all the new efforts made by the internet and other methods of communication. It is also interesting to know that in the West, very few considerations are made for adjusting the teaching methods and helping the primary and secondary schools with new curriculum to deal with this subject. It would seem that not only should schools teach basics, such as language, mathematics, history etc, but also skills and technology needed for the world of today. Teach them about the obligations of modern finance. They will understand. Understand more than their parents of 20 years ago understood. Also teach them about how their parents themselves have to finance their houses and learn how banks behave. All this should be put in the curriculum.
On the other hand, it is also important that many of our problems are solved through private/public finance. The public is funding the schools and the private individual should be putting up suggestions and working closely with teachers to understand better curriculums,
advancing with the times that we are living in and looking further even further ahead over the next 20 years.
If you look at what can be done by government in partnership with the private sector, it is obvious that the biggest factor is infrastructure and this has been rather left behind both in the United Kingdom and the United States. There are so many examples when you can see it
in relation to hospitals, in relation to schools, in relation to transport and why has it not been done? Because there is always a twist among the political effort not to give the opportunity and to see the result as clearly within a period of time necessary for a new election.
The best example of public/private partnership that I know in the United Kingdom, under the New Town Act is Milton Keynes. The government allowed the money to come from the budget and from debt which the private sector invested in various forms of equity and debt to make it a success. There are many other examples and those examples should be continued especially for road building and airports.
I suppose one has to be fair in saying that the best country
in the world that has achieved this is China which concentrated on its infrastructure and is still
concentrating on it. Obviously, maybe it has gone too fast in certain areas of opening up through the countryside, development houses and the like and townships of a million. But at the same time, it is proven to everyone that this makes a change from a country that has never had the opportunity to a country which has now got the opportunity.