Friday, December 12, 2008
Well, nuncle, this plainly won't do
We would urgently need a coherent theoretical framework to replace the crude market faith that is currently becoming more and more obsolete. Well, actually intellectually it has always been obsolete, it was born obsolete, but immense concentrations of power will support and create belief structures around them. We can see this reflex in the immense cohorts of semi- or partially educated market enthusiasts on the Web. (Not to talk about the hate filled American right wing talk radio whose main role in the world is I guess to keep corporate interests safe, never mind the unborn fetuses or Darwin in the last analysis.) However wrong, power speaks loudly - and in the context of market economy, it is not even completely wrong. Strictly regulated markets do work (and are not too unstable to create overwhelming social backlashes). So, what is needed is a subtle, intellectually flexible approach - a sane middle way. Now should I hold my breath?