Financial Collapse: It's both Wall Street AND Main Street

Lawrence Lessig is promoting the film Inside Job.  I'm glad; it looks like it'll be informative (and hopefully not just emotional).

However, Lawrence says, '... it is crazy—literally crazy—to point to "the losers" as the cause,' where "the losers" are everyday people being bailed out by government programs.  No, it's not crazy: a large part of our financial mess is due to a culture of greed in America, one where people are looking for quick, high returns without looking at the underlying process.  Stocks, securities, banks, and even government bonds all have some kind of risk.  It is unreasonable (an unsustainable) for our society to expect to close their eyes and give their money without understanding the businesses.  There is no guarantee of the future in any aspect of life, and there is definitely no way for everyone to get rich quick.

The only way to build a stable life is to work hard, be committed, and learn constantly.

OK, so not everyone who has lost is guilty.  But it is the prevailing culture in America... or it has been of late.  Let's hope we put that period behind us, rather than blaming some easily-identified targets and leaving it at that.

I don't buy the "Buy American" motto.

I just got a note from a relative with a long article about buying American-made products first, and finishing with: "buy as many articles as possible that are made right here in the USA!"

I disagree.

I do agree with buying things locally first... and not just because of the money. When your community works together and trades together, not only do you support your local resources, you increase the bonds of trust and cooperation, both of which can help you in the future.

However, once you get outside your "community" (maybe 5-20 miles?), you might as well be dealing with another country. Unless they're someone you plan to do business with again, you're just dealing with another anonymous supplier, so you're not building any meaningful relationship. Any why not support workers in other countries? I love how Americans have helped build up communities and infrastructures in other countries just because they need the help... and the very best way to get aid to our brothers and sisters worldwide is to buy their goods, rewarding their work. (Now, many of these products actually help corrupt governments instead of communities, so you've got to be smart about buying internationally as well. Dunno how. It's all hard.)

So, no, I don't buy the "Buy American" motto.

PS: Note that when you're a business you do create long-term relationships with people located further away, so a business "community" may be much broader. But it's still about the relationships.