The bullshit economy

Today, few people produce all that we need. The remainder have found bullshit jobs in the bullshit economy. In several advanced economies, 1-3% of the population works in agriculture. In the past, that was over 90%. They produced barely enough for their own needs. Now these few per cent make the food for everyone, and more people suffer from obesity than famine, while the world’s population has increased from less than one billion to over eight billion. The efficiency increase is astounding. But if a few people do all that we need, then the rest are transforming energy and resources into waste and pollution by producing non-essential goods and services.

These activities make sense because they generate profits for investors or serve some common good. In the current political economy, some are essential, so you can’t simply terminate all these activities. The economic system is a system. Actions have consequences, many of which we can’t foresee. Still, we could manage without gadgets, social media, air travel, and many other things. It is hard to say precisely what the bullshit economy is, but most of it concentrates on the following areas:

• law and consultancy;
• communication, information and media;
• policy making and bureaucracy;
• management;
• entertainment and tourism;
• finance and trade;
• technology, computers and software.

Usually, most of the attention goes to the government, so policy making, bureaucracy, and also welfare. That blinds us from what happens in the private sector. In ‘advanced’ economies, bullshit probably generates more than 50% of GDP, and it might be as much as 75%. And so a banker once noted,

A cyclist is a disaster for the country’s economy. He doesn’t buy cars and doesn’t borrow money to buy. He doesn’t pay for insurance policies. He doesn’t buy fuel or pay for maintenance and repairs. He doesn’t use paid parking. He doesn’t require multi-lane highways. He doesn’t get fat. Healthy people are neither needed nor beneficial for the economy. They don’t buy medicine. They don’t go to hospitals or doctors. Nothing gets added to the country’s gross domestic product. On the contrary, every new McDonald’s restaurant creates at least 30 jobs: 10 cardiologists, 10 dentists, 10 dietitians and nutritionists, and, obviously, people who work at the restaurant itself.

Now you get the picture. The bullshit economy is about making money, not providing needs. Returns in agriculture are meagre compared to those of tech giants. And we could survive without tech giants, but not without food. To illustrate the money-generating power of the bullshit economy, you can compare the returns on an investment in the Chinese stock markets versus the US stock markets. If you had invested $1,000 in the MSCI China in 2011, in a real economy that produces things, you would have had $1,670 by November 2025.

Had you instead put your money in the S&P 500, in a bullshit economy of social media, lawsuits, unaffordable healthcare, Hollywood, finance, vampire capital scams, marketing and sales, you would have had $6,700. And that was the timeframe during which China caught up to, or even overtook, the United States. At least, the rich are doing fine. The latest hype is artificial intelligence. Soon, capitalists may no longer need workers. That vision of a coming capitalist paradise may have kept the stock market going.

Social networks, retail and financial services depend on physical infrastructure, such as roads and electricity grids. Without concrete, copper and fibre optics, there would be no data centres, no electricity, no internet, and no parcel deliveries. The bullshit economy depends on physical labour and infrastructure. But the money is not in physical labour and infrastructure. A few mega corporations, such as NVIDIA, Microsoft, Apple, Google, and Amazon, reap the benefits, while nothing they do is something anyone needed fifty years ago. Bullshit is where the money is. In this sense, the US economy has become the most ‘advanced’. It helped that the US has always been a nation of salespeople.

And so, yet another Wall Street wiz kid developed the Degenerate Economy Index, which tracks companies enabling gambling, day trading, and memecoin speculation. By October 2025, it had returned 130% since its inception in May 2023. The index includes 13 public companies providing computing power, mobile devices, cloud services, and social networks, as well as Bitcoin. The 130% return over 18 months occurred during a period of market uncertainty, rising interest rates, the collapse of regional banks, and the flailing commercial real estate market. The growth came from bullshit.¹

In the Financial Times, a fellow named Tek Parikh claimed that fifty years ago, the assets held by the top 500 US companies were mainly tangible, such as factories, equipment, and inventory. Today, most of their assets are intangible, including intellectual property, brand value, and marketing networks. In the US, spending on intangible assets surpassed tangible investments as a share of GDP in the late 1990s. The gap has widened ever since. These intangibles drive US productivity growth. Parikh excitedly asserts that this transformation helps to explain the high concentration, exceptionalism and bubble-like valuations in the US stock market.

Information technology unlocks value, which is a marketing term for selling more bullshit or intensifying the competition. Buying a widget for €10 and selling it for €20 because you own a brand generates more wealth than labouring to make it for €8 and selling it for €10. A brand is capital that makes dirt look like gold to people willing to pay the price of gold for it, so it is something intangible, not a factory. Coca-Cola sells the same soda for five times the price to suckers who buy a ‘Coca-Cola feeling.’ The owners of the brands make producers compete, so producers have low margins, and their employees toil for low salaries in sweatshops. They hire a celebrity to tout the brand’s exclusiveness, and then they rake in the money. It costs a few euros to make a Gucci bag that sells for €2,500.

Social networks, retail and financial services depend on physical infrastructure, such as roads and electricity grids. Without concrete, copper and fibre optics, there would be no data centres, no electricity, no internet, and no parcel deliveries. The bullshit economy depends on physical labour and infrastructure. But the money is not in physical labour and infrastructure. A few mega corporations, such as NVIDIA, Microsoft, Apple, Google, and Amazon, reap the benefits, while nothing they do is something anyone needed fifty years ago. Bullshit is where the money is. In this sense, the US economy has become one of the most ‘advanced,’ leaving Europe to bite the dust.

Yet another Wall Street wiz kid developed the Degenerate Economy Index, which tracks companies enabling gambling, day trading, and memecoin speculation. By October 2025, it had returned 130% since its inception in May 2023. The index includes 13 public companies providing computing power, mobile devices, cloud services, and social networks, as well as Bitcoin. The 130% return over 18 months occurred during a period of market uncertainty, rising interest rates, the collapse of regional banks, and the flailing commercial real estate market.

The current economic organisation squeezes producers of necessities to employ more people in the bullshit economy to make money for investors from transforming natural resources and energy into waste and pollution. Economists call it efficient and wealth creation. Genetic engineering may increase crop yields. That may benefit farmers, but competition in farming keeps average returns low. Most profits go to the corporations that engineered the crops. In a typical bullshit economy, migrants do the hard labour at low wages, as the native population occupies itself with value-creating activities in the bullshit economy because that is where the money is.

No limits to our desires

Humans don’t lack ambition and desires. The Bible tells that Eve and Adam wished to acquire the knowledge of the gods. There are no limits to our imagination. Otherwise, we wouldn’t have lived in someone’s personal fantasy world. When we have enough, we want more. It could be a larger home, a sports car, or an adventurous trip. Had that not been the case, we could have worked a few hours daily, had all we needed, and been content with what we had. Instead of living happily in Paradise, we work hard to make Earth a wasteland by turning energy and raw materials into waste and pollution until we can’t keep up, and robots and artificial intelligence will replace us.

More material wealth and new inventions haven’t made us happier, yet we still hope they will. Between 1970 and 2024, income per person in the US rose a whopping 265%.² Still, about 40% of Americans can’t make ends meet. Many feel more miserable than their grandparents did fifty years ago. It is also a lifestyle problem that economic growth can’t fix. What was once a luxury or didn’t even exist has become a necessity. But it is not only that. The gains mostly went into the pockets of the rich, and many poor people are hardly better off. It is not the first time that humans sacrificed quality of life for growth.

Our distant forbears switched from hunter-gathering to growing crops and herding cattle. It increased food production. They thought that if they worked harder, they would have more food and a better life. More children survived, so they remained on the brink of famine. Even worse, they had less varied diets, hence poorer health. They lived in unhygienic settlements where they contracted more infectious diseases. They suffered more from violence as farmers had to defend their crops and animals against thieves. Peasants were more miserable than hunter-gatherers who lived before them.³

Since time immemorial, most people had barely enough, so frugality was a virtue and wastefulness a vice. Parents taught their children to be satisfied with what they had, which was not much. Few scraps remained unused. When my father wished for a toy, he would take a branch from a tree and turn it into a toy himself, at least when he had time to play and didn’t have to do chores at the farm. He didn’t know better and was quite satisfied with whatever toy he could create from a tree branch. His mother didn’t throw away food. And if his trousers had a hole, she would mend them. They were poor, but had enough.

Our virtues have evolved. Capitalism is the new religion. The economy must grow, so the excess production needs willing consumers to gobble it all up. Otherwise, investors lose money. To prevent this catastrophe, a new ethic appeared: consumerism. Businesses now use psychology, advertisements, and the media to convince us to indulge ourselves and make more purchases. It is our moral duty to buy more stuff. That is what we want to hear. Today, many children have mountains of toys they never play with. So, here is your bribe, your thirty pieces of silver for which you have betrayed Jesus.

As an ancient Persian story goes, the inventor of chess once presented the game to the king. The king, much impressed by it, offered the inventor any reward he desired. If there were ever to be a top three stupidest promises in the history of humankind, any reward someone wants will surely make it on that list. The inventor asked for a single grain of rice for the first square of the chessboard. Then, two grains for the second, four for the third, until the last square. The king, baffled by this seemingly small price, agreed. His treasurer later made the calculation and regretfully informed the king that it was impossible to pay the inventor. There wasn’t enough rice in the world. The king then did the only sensible thing and ordered the execution of this man for his greed.

Growth is exponential. Increases come on top of previous ones. Economic growth works like that. It is unsustainable. Economists may argue that efficiency improvements reduce resource and energy consumption, but they have been promising that for quite a while now. In reality, the opposite happens due to a secret they don’t tell you about, the Jevons Paradox. Efficiency improvements make products more affordable, allowing more people to purchase them. To add insult to injury, innovation brings new products to the market that we don’t need. In other words, the problem is the combination of efficiency improvements and innovation with our unlimited desires.

An extreme case is information technology. Since the 1970s, computers have become over a million times as powerful. Their capacity and numbers grew far more, perhaps over a trillion times, so computers consume over a million times more energy and resources than they did in the 1970s. And what for? We don’t need computers. Otherwise, people in the 1960s would have died horrible deaths from a lack of information technology. Okay, you may think you will die when TikTok and Snapchat go blank, but if you had studied history, you could have known that countless generations have survived without these apps. And here is where the economic growth nowadays comes from. Somehow, they create a productivity miracle by allowing influencers to sell us more stuff.

Our inner drives

Since the Industrial Revolution, schedules and appointments have determined people’s lives. We work at designated intervals. Trains must be on time. We save time by travelling faster, taking ready-to-eat meals, utilising cleaning services, and buying new items instead of mending them. And we still hurry because of schedules, appointments, and long working hours. As more nations are becoming ‘developed’, more people join the treadmill and become cogs in a system that is a force of its own, over which we have no control.

A 2025 report from Microsoft claims that employees are experiencing an ‘infinite workday’ of constant emails, meetings and notifications. They check their emails as early as 6 AM, juggle meetings through the afternoon and stay online well into the night. According to Microsoft’s data, employees are interrupted every 2 minutes by meetings, emails, or messages, and receive an average of 117 emails and 153 Teams messages each workday. As a result, people are feeling overwhelmed.⁴

Why can’t we have four workdays of six hours each weekly? Only, the Netherlands comes close with a 32-hour workweek. It must be possible. What is the point of working hard to turn the planet into a wasteland so that artificial intelligence will replace us? What is the point of what we are doing? And why the hurry? Time is money, so we live by the clock. A high standard of living requires capital, thus profits for its owners. Everyone must be present during working hours. A business is only profitable when operations run smoothly. Corporations lose money if raw materials, workers, or repair crews arrive late, and the competition will put them out of business.

Trade and finance drive the system. Economists tell us that trade and finance make products cheaper and provide us with more choices. There are shampoos for every hair type, from several brands. But we work harder or risk losing our jobs to provide better service at a lower cost. Traders buy where it is cheapest, and bankers move their money to where it yields the highest returns, resulting in a competition of everyone against everyone. It is also why several Western countries deindustrialised and became service economies, moving from producing to adding value, which is another term for bullshit.

We work so efficiently that a few people produce everything we need, leaving a surplus of labour in need of employment. Many of us work in bullshit jobs. We may work hard, but we waste resources and energy performing these jobs. Modern societies have become complex, so these jobs make economic sense. And so, you can make money without being useful. You can become an influencer or trade crypto. Free-market proponents say that value is subjective and that the market is the ultimate judge of usefulness, which is also subjective, so nothing more than opinion. It is a fatal mistake. If it is profitable to terminate us, free markets will ensure it will happen.

The system hooks into our inner drives, most notably our natural desires for security, comfort, and status. Squirrels gather and store nuts to get them through the winter. They pile up more nuts than needed. But they aren’t nuts. You can’t be sure what the winter will bring. A few more nuts can make the difference between perishing and survival. We save for a rainy day, retirement, or to give our children a good start in life. Our desire to pile up assets stems from our survival instinct. As you grow older and approach your destined appointment with that scythe-wielding fellow, that urge dissipates.

As a child, I had amassed over a thousand marbles. My gains came at the expense of the other children at school. Yet, I sought to win more. But what was the point? Why wasn’t I content with 60? I never thought of that. The more marbles, the better. Marbles are utterly useless, except that I could marvel at them like Scrooge McDuck could spend time looking at his money in his warehouse. Other children ended up without marbles. And so, I am not that different from a greedy billionaire. And unlike most, I haven’t lost my marbles. Now, that is not a coincidence. Like gold coins, they don’t take that much space.

We are social animals, and we compare ourselves to others. If you want to belong to a group, you often need the things others have or the things they do. If you are a fan of FC Barcelona, you buy items from the fan shop and attend soccer matches. Many of us seek status. For men, status gives mating opportunities. No matter how old, annoying or ugly a billionaire may be, he attracts good-looking fashion models. Those who can afford it buy Gucci bags, Ferrari cars, and Rolex watches, only to show others that they can. These items are as useless as marbles. But it would be a waste to give money to the poor, as that would make them lazy. I also didn’t hand out marbles to those who had lost them.

Our capitalist religion teaches us that we deserve a reward for our excellence in ruining God’s creation. After all, it is hard work. And if we buy these luxuries, some of that wealth will trickle down to the children working in the sweatshops that produce them. It is an inefficient way to end poverty and requires more resources than are available. Humanity’s current lifestyle already requires more than two Earths to sustain. And if everyone lived like the affluent, 80% of the people would have to die. But humans are not creatures of logic. We are social animals who cooperate based on fairy tales.

Ideally, you can achieve a higher status by being helpful to others or contributing to society. That motivates us to help and contribute. And we are thankful to those who bring food to the table. It is the businesspeople who pay for our groceries. You wouldn’t have anything to eat if they weren’t busy squeezing money out of something, even when we could do without that something, and even if it is slowly poisoning us. We would be starving in the capitalist economy if we didn’t make and trade all that useless stuff. And not everyone is fit to run a business. It is why we value entrepreneurs so much.

Tell me true, tell me why, was Jesus crucified?
Was it for this that Daddy died?
Was it you? Was it me?
Did I watch too much TV?
Is that a hint of accusation in your eyes?
If it wasn’t for the Nips
Being so good at building ships
The yards would still be open on the Clyde
And it can’t be much fun for them
Beneath the rising sun
With all their kids committing suicide
What have we done?

Pink Floyd, The Post War Dream

The Japanese have worked hard to get ahead, putting the British shipyards out of business, only to see their kids committing suicide. The Chinese are following suit. Why can’t we be happy? It is not that the Japanese didn’t have enough. When you have enough, you don’t need more. Jesus said that it is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God. The phrase ‘you’ll own nothing, and you’ll be happy’ appeals to our deepest fears of a dismal future in which we starve while being fed propaganda. We prefer a fatal excess of material goods to the bliss of the needy North Koreans. Somehow, we think that the choice is between capitalism and socialism. Can’t there be something better?

Economic growth in the European Union has lagged behind that of the United States in recent decades. And due to its stellar growth, China has overtaken Europe. Europeans work fewer hours and retire earlier than Americans. Europe doesn’t innovate as much because Europeans are more risk-averse than Americans. Europe has fewer billionaire venture capitalists willing to take risks with their excess capital on new ideas that are usually products or services no one needs, but generate money for investors.

Europe has more regulations and fragmented markets. It lacks tech corporations like Apple, Facebook, Google and Microsoft. Still, without the products of the Dutch corporation ASML, there would be no Apple, Facebook, Google and Microsoft. And also no NVIDIA. The most crucial tech industry is still in Europe. Europeans have fewer children, so the population is ageing and close to declining. European worker productivity lags as Europe has fewer money-generating bullshit activities. European and US manufacturing output have fared similarly since 2000. And if you correct for purchasing power, European countries do better. Life in the US is more expensive, which boosts GDP.

Some say Europe is becoming an open-air museum, a place to visit for those who want to see how life was in the past. Still, Western Europe has less poverty than the US, and Europeans live longer. Europe looks more like Paradise than the United States or China. Are Europeans happier? The World Happiness Report puts eight European nations in the top ten. Only happiness is hard to measure. Finland is number one on the list, but it also has high alcoholism and suicide rates. Like Americans, Europeans increasingly fear the future and vote for fascist parties and leaders.

Will we never be satisfied, no matter how rich we are? Or do the statistics not reflect real life? Or is it perception because we live by stories rather than facts? Or do people sense that things are heading in the wrong direction? Discussing statistics is tricky. Talking about open-air museums. The Old Order Amish are happy people. They don’t need much to live in Paradise. And they don’t have statistics. Only a Paradise can’t do without a strong protector, thus an 800-pound gorilla who scares the hell out of potential invaders. Europe and the Pennsylvania Dutch could count on the protection of the US Army. But who will keep God’s Paradise safe? Captain Obvious has the answer.

Modernisation

You can only say that things are heading in the wrong direction if you expect disaster or when you have a vision of how things should be. Otherwise, there is no right or wrong direction. The ecological apocalypse may kill billions, and technological development could end humanity, but are these terrible things? It depends on whether you think humanity is precious, which is merely an opinion. Modernisation has had its critics. They weren’t that stupid, except for believing we have a choice and can change the system. We might if we are all on the same page, but that requires a miracle.

Mahatma Gandhi believed industrialisation wouldn’t solve the problems plaguing the Indian poor. He urged Indian villagers to remain self-sufficient in food, make their clothes, and avoid the temptation of mass-produced consumption goods. When Gandhi lived, most Indians were hardly better off than their forebears had been before British colonisation. Today, poverty in India has declined dramatically. The Unabomber claimed in his manifesto that the Industrial Revolution had initiated a process that would eventually destroy humanity through technology and end freedom by forcing us to adapt to machinery.

We shouldn’t romanticise the past. Billions are still poor, but poverty has declined. The Industrial Revolution created an engine of permanent change, driven by competition, economies of scale, and innovation. We have become cogs in a system over which we have no control. Communities disappeared, giving way to societies. And the competition never ends. Humans emerged as winners in a contest between species known as the struggle for survival. They then turned into the destroyers of other life on Earth.

Humans innovate faster than other species. We have eliminated the competition, taken over the planet and killed many of the plants and animals that once lived there. The remaining wildlife lives in a few reservations. Artificial intelligence will soon outcompete us. The driver of competition is trade. Without trade, two countries can’t compete, not even two villages, for that matter. And that is our ultimate challenge. The prospect of continued competition is mass destruction. So it would be better to stifle all innovation with red tape than to let things continue as they do. It is a matter of life and death.

Why things are getting more evil

What we see as good benefits something, and what we see as evil harms something. So what you think is good or evil depends on the something you have in mind, what you believe is beneficial and harmful, whether you believe intent matters, and what you think the consequences of choices are. And so there is room for debate. Intent is an interesting issue. You can make the same choice, such as euthanasia, out of compassion, out of cruelty, or based on a principle you believe in. Consequences may also matter. Evil intent can have favourable outcomes, while good intent can bring disaster. That has been an argument in defence of capitalism. The capitalism-socialism debate originates in divergent views on law and morality within the Western tradition.

In the Anglo-Saxon world, with the Common Law, individuals are sovereign, and ethical philosophy is pragmatic. It means that moral rules are a social agreement, so good and evil depend on popular sentiment; freedom is the ability to do as you please, and outcomes matter more than intent. In continental Europe, with Civil Law, the lawmaker is sovereign, thus the king or the people in a democracy, and idealism dominates ethical philosophy, most notably in Germany. It means that good and evil are absolute, freedom means liberating yourself from your lower urges, thus becoming rational and morally upright, and intent matters more than outcomes. Adam Smith was a pragmatist from Great Britain, while Karl Marx was an idealist from Germany.

Adam Smith, the founder of modern capitalist thought, argued in his book ‘The Wealth of Nations’ that self-interest in a market economy promotes overall economic well-being, as ‘it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.’ In other words, self-interest rather than benevolence fills our stomachs. Conversely, socialist systems, despite being invented with good intentions, led to poverty and famine, so they are evil. Traditional moral systems regarded self-interest as evil and benevolence as good. Capitalism thus comes with an inversion of that morality, and it ultimately became greed is good. It reflects pragmatic moralism rather than an idealistic or absolutist take on ethics.

Capitalism rewards individuals for their ability to generate money by transforming natural resources and energy into waste and pollution, by producing things we don’t need in a competition that will end in disaster. Whatever intentions the greedy may have, their efforts bring about an apocalyptic catastrophe that some major religions have long predicted. We can be pragmatic and judge the greedy not by their intent but by the outcomes. And we can be idealistic or absolutist, arguing that markets have no morals. Individual market participants may possess moral values, but markets never do. There are always people willing to do the trade. When there is demand, there will be supply. The trader’s ethic is no ethics at all. Money corrupts everything, including the government, and that is why things are getting more evil.

Karl Marx wrote in his famous book that capital is dead labour that, like a vampire, only lives by sucking living labour. In capitalism, the dead eat the living, which eventually leads to a zombie apocalypse as predicted by ancient Christian prophets. The specifics of the events do not precisely match those in the Book of Revelation, and somehow they never do, despite the frantic efforts of religious people to prove otherwise. But every sizeable inheritance or successful launch of a new corporation that gets us hooked on things we don’t need is the birth of a new zombie.

And the innovation never stops. Vampire capital, or private equity, is the latest brainchild of capital owners to suck more money out of us. The giants, such as Apollo Global Management, Blackstone, and the Carlyle Group, control $8 trillion in assets. Over 18,000 private funds operate in the US, mainly investing in medium-sized companies. The figure grew by more than 50% in the last five years. According to McKinsey consultants, global private equity assets reached $13 trillion in 2023.⁵

Here comes just one example. There are countless others. About 70% of nursing homes in the United States are for-profit. They have increasingly merged into larger chains, often owned by private equity firms. Two-thirds of the nursing homes’ cash flow comes from Medicaid. The company Manor Care had 25,000 beds and was the second-largest nursing home chain in the country by 2017. A private equity firm, The Carlyle Group, acquired it in 2007 through a leveraged buyout.

Carlyle sold the land on which the nursing homes stood to a company specialising in providing real estate to healthcare providers. Carlyle pocketed the proceeds from the land sale and used them to pay off the debt incurred in acquiring Manor Care. Manor Care then had to pay rent using its Medicaid revenues, while Carlyle took the operating profits. With this new rent burden, Manor Care’s margins contracted. Carlyle then insisted on cutting positions and wages.⁵

The quality of care deteriorated as the chain struggled financially and laid off staff. In the wake of the private equity purchase of Manor Care, nurse staffing fell, and resident deaths increased by 11%. Bills, mainly to Medicare, increased by 8%.⁶ Code violations soared. Lawsuits from relatives spiralled, and Manor Care went bankrupt in 2018. That was a lot of money for lawyers, also. There are plenty of examples. When a private equity firm acquires a doctor’s practice, it starts employing profit-boosting strategies, including surprise billing. Private equity firms remove doctors from insurers’ networks, allowing them to bill patients for far more than insurers would pay.

Then there is Big Pharma. Pharmaceutical corporations pay doctors for prescribing their drugs. Their marketing efforts contributed to the opioid crisis in the United States. An example is Purdue Pharma, which developed, manufactured, and aggressively marketed opioids for decades, causing addiction and overdose deaths. After the settlement, the Sackler family, who long owned the corporation, walked away with billions. Many Americans don’t trust their healthcare system, nor do they trust pharmaceutical corporations. These feelings, the COVID-19 vaccine scare and conspiracy theories led to an estimated 200,000 fatalities in the US because of not taking these vaccines.⁷

Big Pharma funds healthcare research, so there is reason to be sceptical, or even distrustful. On the other hand, many ‘independent research’ and ‘independent magazines’ are a business model for quacks and snake-oil salespeople, who sell alternative treatments and sensational stories. Quackery is even more lethal and driven by that same profit motive. And the death toll of not taking the vaccines likely vastly outstripped the number of people who died from them. It is a sign of something more troubling. Money has corrupted US healthcare, along with the rest of US society, to the point that not only is trust in healthcare collapsing, but trust in society itself is as well. And with good reason. Americans pay more for healthcare than anyone else, while they hardly live longer than Cubans, a destitute people suffering under a failed communist experiment.

We live by stories

Most of us wouldn’t be so depraved as to do what the private equity firms do. If you are rich already, how can you be so evil that you want to make money out of denying the elderly their care or defrauding unsuspecting patients? That is because markets have no morals, and the merchant’s ethics are no ethics at all. There is money in it, and it is legal, so it happens, because money is our highest value rather than caring for patients and the elderly. But it is profoundly evil. Jesus said that you can’t serve both God and money. The Dutch call this issue ‘the merchant and the vicar.’ You are either on the side of good or on the side of money. There is no compromise. So far, money always wins. In that sense, and some other ways as well, Marxism is Christianity without God. And that is no coincidence.

To change our course, we need a new foundation for our culture, values, and way of life, but that requires a new world religion. Traditional peoples saw nature as sacred. Likewise, we can see God’s creation as sacred. We are here to keep it rather than to destroy it. In 1854, the Native American Chief Seattle gave a speech when the US government wanted to buy their land. A redacted version of his oration became a rallying cry within the environmentalist movement. In that version, Seattle reportedly said,

How can you buy or sell the sky, the warmth of the land? The idea is strange to us. Every part of this earth is sacred to my people. We are part of the earth, and it is part of us. The white man does not understand our ways.

One portion of land is the same to him as the next, for he is a stranger who comes in the night and takes from the land whatever he needs. He leaves his father’s grave behind, and he does not care. He kidnaps the earth from his children, and he does not care.

We might understand if we knew what the white man dreams, what hopes he describes to his children on long winter nights, and what visions he burns into their minds so they will wish for tomorrow. But we are savages. The white man’s dreams remain hidden from us.

Chief Seattle and his people had lived simple lives in their own Eden. He saw that the white man was on a road to nowhere. He dreams, not much unlike the poor sobs who invented agriculture 10,000 years ago, that if he works hard, his life will be better. Today, nearly everyone else follows the white man’s path and many work even harder than the white man. Poverty is declining worldwide, but the Earth can’t sustain our lifestyles. And artificial intelligence may soon make us obsolete. Will we ride towards our destruction, or can we be content with having enough? And how do we get there? That is not merely an economic question. It begins with our values and the dreams we live by.

Featured image: Bicyclists. By FaceMePLS from The Hague, The Netherlands – Buitenleven / Country Life. Wikmedia Commons. CC BY 2.0.

1. Investor Insanity? The Degenerate Economy Index Up 130%. Boaz Sobrado (2025). Forbes.
2. Real gross domestic product per capita in chained 2017 dollars (A939RX0Q048SBEA). Federal Reserve Bank of St. Louis.
3. Sapiens: A Brief History of Humankind. Yuval Noah Harari (2014). Harvil Secker.
4. American workers are stuck in an ‘infinite workday,’ according to Microsoft report: ‘People are feeling very burnt out’ Sophie Caldwell (2025). CNBC.com.
5. Private equity: vampire capital. Michael Roberts blog (2024).
6. Private equity: health care’s vampire. Steffie Woolhandler, David U. Himmelstein, Elizabeth Schrier, and Hope Schwartz (2024). Statnews.com.
7. Estimated preventable COVID-19-associated deaths due to non-vaccination in the United States. National Library of Medicine. Katherine M Jia, William P Hanage, Marc Lipsitch, Amelia G Johnson, Avnika B Amin, Akilah R Ali, Heather M Scobie, and David L Swerdlow.