Capitalism, I suspect, is doing its best to follow communism into the grave yard. Its strength was that it was not an ideology, just a practice – markets, after all, have been around for thousands of years. But the capitalist ideology of “financial deregulation” whose fruits are now so evident, the worship of markets as the solution to everything, is threatening the system itself.Macrobusiness
Leverage versus debt
Sell On News
(h/t Lambert Strether at Naked Capitalism)
1 comment:
I think capitalism has always been an ideology. Its strength was in getting people to believe it was just a description of blind forces like Darwinian evolution. Just as Chomsky said in his 80's description of American media that the genius of it was that people didn't think it was propaganda so have most people unconsciously internalized the ideological tenets of capitalism. Most people refuse to believe in the devil until he has them by the collar and some not even then.
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