[lbo-talk] FT/Harris: Economic stupidity epidemic throughout populace

dredmond at efn.org dredmond at efn.org
Tue Jul 13 11:23:56 PDT 2010


On Tue, July 13, 2010 3:13 am, Michael Pollak wrote:


> Everyone believes what the RC wants them to believe, including their own
> experts. But because like all ideology it's simplistic and inflexible, in
> some situations, like this one, it's dead wrong. They're sailing their
> own system into the sandbars and they can't turn the wheel because
> they're possessed by their own spell.

And the deeper and exquisitely dialectical irony is that it isn't really "their system" anymore. They think they rule the planet, but all their devious schemes are sandcastles in an age when the semi-peripheral tide is coming in.

All of neoliberalism's chickens are coming home to roost. Outsourcing and capital flows were supposed to crush First World labor and create endless sweatshop super-profits. They did -- but at the cost of spawning a titanic credit bubble (to keep consumption going) and creating a billions-strong proletariat, which is now fighting for its share of the pie -- mostly via developmental states of various kinds.

To me, a child of the Cold War, it's all happening at breakneck speed. But I suppose to young people today, it's not happening fast enough.

-- DRR



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