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Globalisation has spawned a whole ideology about efficient allocation of resources, optimisation of investment decisions, and the invisible, but natural, and morally neutral hand that allow markets to reveal the best price at any given moment for any item. It brings along a vicious hate for taxation, and sees government, and its core functions, redistribution and regulation, as something to be avoided and eliminated as much as possible, being fundamentally anti-efficient. It also brings the core idea that only things that have a price have a value, that everything can be measured in dollars, and that what isn't so measured has no worth nor legitimacy. It fosters a culture of individualism ("freedom") and consumerism ("success"). Social policies (which require distribution), common goods (which need to be defined and managed) and non-economic measures of well-being are spurned and actively fought. Growth is paramount.
I think that you are right in placing the sentence I've highlighted outside the description of the ideology, and instead among the things that the ideology has fostered.

As I've noted before, however, this idea is a heresy in the high church of market economics. This presents and opportunity to shame them with their own religion.

Words and ideas I offer here may be used freely and without attribution.

by technopolitical on Mon Jun 25th, 2007 at 04:31:48 AM EST
BruceMcF made a somewhat similar point in one of the previous threads, i.e. that this was not a logical consequence of the underlying ideology, but it was its inevitable political effect.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Mon Jun 25th, 2007 at 04:45:41 AM EST
[ Parent ]
This comment was actually in the separate diary on competition - the thread is worth reading too.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Mon Jun 25th, 2007 at 04:59:11 AM EST
[ Parent ]


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