Display:
I've been staring at this for a while, trying to figure out what is wrong with it. It's the acceptance that "Globalism" is something new. It's not. It's the same justification for selfishness that has existed for hundreds of years. A new coat of paint, sure. But nothing else new.

It is simply a way of justifying grabbing wealth for oneself. Dress it up as being the best thing for everyone in the long run and you can assuage your conscience. It's absolution for the rich. Everyone wants to feel moral: free-market fundamentalism  allows them to.

by Colman (colman at eurotrib.com) on Fri Mar 17th, 2006 at 10:51:17 AM EST
It is simply a way of justifying grabbing wealth for oneself. Dress it up as being the best thing for everyone in the long run and you can assuage your conscience. It's absolution for the rich. Everyone wants to feel moral: free-market fundamentalism  allows them to.

I've been reading Confessions of an Economic Hit Man.

You should read it, basically the premise is that what is dressed up as development aid is actually the creation of unsustainable levels of debt that compromise the soverignity of devloping nations.  A more subtle form of empire for sure, but even in the 1860's Mexican debt defaults lead to the enthronement of Maximillian, an Austrian on the throne of Mexico.

The hostility to Chavez from the United States is growing, because he helped Argentina pay off its debts to the IMF and World Bank.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Fri Mar 17th, 2006 at 11:50:01 AM EST
[ Parent ]
But Colman if you read all of Saul's article, you'll find he says very nearly that:

These theoretically new economic ideas were now scarcely recognisable as the simplistic economic arguments of pre-1929. The religious fervour had been blended with sparkling waves of new technology and with masses of microeconomic data, all presented as fact. Relaunched in this way, as three in one, one in three, the old ideas seemed new.

Caught up as the liberal elites were in the instrumental rationality of program management, they responded to this attack with superior, stolid and unimaginative rejection. Instead of speaking out for the public good, they defended administrative structures. The effect was to make tired and discredited market arguments seem young, agile and modern.

Now he doesn't dot the last I and tell us that the theories of the 1920's were elite-centred theories in the service of wealth concentration and a self-appointed "gilded aristocracy".  But I think he assumes that we understand this...

The difference between theory and practise in practise ...

by DeAnander (de_at_daclarke_dot_org) on Fri Mar 17th, 2006 at 01:16:42 PM EST
[ Parent ]
Missed that bit. Put it down to the fever. But scarcely recognisable only if you had no knowledge of economic history. Oh.

I don't like calling them "elite-centered" either. Obscures the point. They're an excuse for selfishness, nothing else.

by Colman (colman at eurotrib.com) on Fri Mar 17th, 2006 at 01:23:31 PM EST
[ Parent ]
Wikipedia: Quotes by John K. Galbraith
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.


guaranteed to evoke a violent reaction from police is to challenge their right to "define the situation." --- David Graeber citing Marc Cooper
by Migeru (migeru at eurotrib dot com) on Fri Mar 17th, 2006 at 01:29:53 PM EST
[ Parent ]
Yup.
by Colman (colman at eurotrib.com) on Fri Mar 17th, 2006 at 01:33:05 PM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series