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Psychologically, sociopathy is obviously a more powerful driver than sanity, iow people who are nuts get up earlier and work harder, hoping that being in pole position will compensate for their lack of affect (or deeper purpose for living than simple material terms).

Financially bubbles contain a 'feel-good factor' that a calmer economy does not engender, because quick profits are more attractive than slow ones.

So pols looking for near-future votes cannot resist blowing air into bubbles even though they know how it will end. Rubes go along and all try to sell before the music stops.

I would venture to say that none of this will stop unless one of two things happens: 1. a general strike of the 99% to remind the 1% where their riches come from, or 2. a massive education program to deeply plant the knowledge within people that slow profits are healthier for society at large than quick ones.

We have a 'slow food' movement, maybe now we need a 'slow economy' movement. It shouldn't be rocket science really, because capitalism-as-we-presently-conceive-it is not only permissive of bubblicious behaviour, it doesn't just condone it, it practically demands it!

Perhaps in the future embryonic scans for sociopathic traits can help us screen these folks and either reprogram them or at least sequester them where their games can do least damage.

Until then we can just wait for a 'Minsky moment' to epiphanise a large enough sector of the thinking public, which can become a pressure group big enough to battle this Leviathan.

I think there's little doubt about the unsustainability of predatory capitalism, it's a when, not an if as to its implosion due to inherent contradictions known since Marx. What concerns me most is the size of the crater this implosion will create. When contemplated, the brain struggles to fully take on board the possible permutations of what could follow from such a change.

I really enjoyed this diary, thanks, also to das monde for its inspiration.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue Mar 24th, 2015 at 11:22:52 AM EST

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