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Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of ‘the debt trap’ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker’s interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing ‘bail-outs’ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury–Wall Street–IMF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, ‘over fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center’. ‘What a peculiar world’, sighs Stiglitz, ‘in which the poor countries are in effect subsidizing the richest. ↗
The typical capitalists are lovers of power rather than sensual indulgence, but they have the same tendency to crush and to take tribute that the cruder types of sensualism possess. The discipline of the capitalist is the same as that of the frugalist. He differs from the latter in that he has no regard for the objects through which productive power is acquired. HE does not hesitate to exploit natural resources, lands, dumb animals and even his fellowman. Capital to such a man is an abstract fund, made up of perishable elements which are quickly replaced… The frugalist…stands in marked contrast to the attitude of the capitalist. The frugalist takes a vital interest in his tools, in his land, and in the goods he produces. He has a definite attachment to each. He dislikes to see an old coat wear out, an old wagon break down, or an old horse go lame. He always thinks of concrete things, wants them and nothing else. He desires not land, but a given farm, not horses or cattle and machines, but particular breeds and implements; not shelter, but a home…. He rejects as unworthy what is below standard and despises as luxurious what is above or outside of it. Dominated by activities, he thinks of capital as a means to an end. ↗
Even in the act of fleeing modern ideologies, however, literary theory reveals its often unconscious complicity with them, betraying its elitism, sexism or individualism in the very ‘aesthetic’ or ‘unpolitical’ language it finds natural to use of the literary text. It assumes, in the main, that at the centre of the world is the contemplative individual self, bowed over its book, striving to gain touch with experience, truth, reality, history or tradition. Other things matter too, of course — this individual is in personal relationship with others, and we are always much more than readers — but it is notable how often such individual consciousness, set in its small circle of relationships, ends up as the touchstone of all else. The further we move from the rich inwardness of the personal life, of which literature is the supreme exemplar, the more drab, mechanical and impersonal existence becomes. It is a view equivalent in the literary sphere to what has been called possessive individualism in the social realm, much as the former attitude may shudder at the latter: it reflects the values of a political system which subordinates the sociality of human life to solitary individual enterprise. ↗
#capitalist-subjectivity #ideology #individualism #literary-theory #social
I remember an insight that taught me much about life. One day I felt that I had everything that I really wanted in life. I had a creative and meaningful work as a therapist and course leader, I had a relationship with a beautiful woman, who I loved and who loved me, I had friend that I trusted and I had money to do what I wanted. But in spite of all this, I still had a feeling that there was something missing in my life. I was not satisfied. The thirst and longing in my heart was still searching for something more. It made me realize that the deepest pain in my heart was that I was still separated from the Whole and that no outer things or relationships could ease this pain. ↗
In neo-classical economic theory, it is claimed without evidence that people are basically self-seeking, that they want above all the satisfaction of their material desires: what economists call "maximising utility". The ultimate objective of mankind is economic growth, and that is maximized only through raw, and lightly regulated, competition. If the rewards of this system are spread unevenly, that is a necessary price. Others on the planet are to be regarded as either customers, competitors or factors of production. Effects upon the planet itself are mere "externalities" to the model, with no reckoning of the cost - at least for now. Nowhere in this analysis appears factors such as human cooperation, love, trust, compassion or hatred, curiosity or beauty. Nowhere appears the concept of meaning. What cannot be measured is ignored. But the trouble is that once our basic needs for shelter and food have been met, these factors may be the most important of all. ↗
#consumerism #cooperation #economics #freedom #laissez-faire
He wondered about the people in houses like those. They would be, for example, small clerks, shop-assistants, commercial travellers, insurance touts, tram conductors. Did they know that they were only puppets dancing when money pulled the strings? You bet they didn’t. And if they did, what would they care? They were too busy being born, being married, begetting, working, dying. It mightn’t be a bad thing, if you could manage it, to feel yourself one of them, one of the ruck of men. Our civilization is founded on greed and fear, but in the lives of common men the greed and fear are mysteriously transmuted into something nobler. The lower-middle-class people in there, behind their lace curtains, with their children and their scraps of furniture and their aspidistras — they lived by the money-code, sure enough, and yet they contrived to keep their decency. The money-code as they interpreted it was not merely cynical and hoggish. They had their standards, their inviolable points of honour. They ‘kept themselves respectable’— kept the aspidistra flying. Besides, they were alive. They were bound up in the bundle of life. They begot children, which is what the saints and the soul-savers never by any chance do. The aspidistra is the tree of life, he thought suddenly. ↗
It comes as no surprise to find [Norman] Mailer embracing [in the book On God] a form of Manicheanism, pitting the forces of light and darkness against each other in a permanent stand-off, with humanity as the battlefield. (When asked if Jesus is part of this battle, he responds rather loftily that he thinks it is a distinct possibility.) But it is at points like this that he talks as if all the late-night undergraduate talk sessions on the question of theism had become rolled into one. 'How can we not face up to the fact that if God is All-Powerful, He cannot be All-Good. Or She cannot be All-Good.' Mailer says that questions such as this have bedevilled 'theologians', whereas it would be more accurate to say that such questions, posed by philosophers, have attempted to put theologians out of business. A long exchange on the probability of reincarnation (known to Mailer sometimes as “karmic reassignment”) manages to fall slightly below the level of those undergraduate talk sessions. The Manichean stand-off leads Mailer, in closing, to speculate on what God might desire politically and to say: 'In different times, the heavens may have been partial to monarchy, to communism, and certainly the Lord was interested in democracy, in capitalism. (As was the Devil!)' I think it was at this point that I decided I would rather remember Mailer as the author of Harlot's Ghost and The Armies of the Night. ↗
#capitalism #communism #democracy #devil #god
In the United States […] the two main business-dominated parties, with the support of the corporate community, have refused to reform laws that make it virtually impossible to create new political parties (that might appeal to non-business interests) and let them be effective. Although there is marked and frequently observed dissatisfaction with the Republicans and Democrats, electoral politics is one area where notions of competitions and free choice have little meaning. In some respects the caliber of debate and choice in neoliberal elections tends to be closer to that of the one-party communist state than that of a genuine democracy. ↗
#corporatism #democracy #democracy-gone-wrong #democratic-party #elections
Fear of the mob is a superstitious fear. It is based on the idea that there is some mysterious, fundamental difference between rich and poor, as though they were two different races, like Negroes and white men. But in reality there is no such difference. The mass of the rich and the poor are differentiated by their incomes and nothing else, and the average millionaire is only the average dishwasher dressed in a new suit. Change places, and handy dandy, which is the justice, which is the thief? Everyone who has mixed on equal terms with the poor knows this quite well. But the trouble is that intelligent, cultivated people, the very people who might be expected to have liberal opinions, never do mix with the poor. For what do the majority of educated people know about poverty? ↗
The (capital punishment) controversy passes the anarch by. For him, the linking of death and punishment is absurd. In this respect, he is closer to the wrongdoer than to the judge, for the high-ranking culprit who is condemned to death is not prepared to acknowledge his sentence as atonement; rather, he sees his guilt in his own inadequacy. Thus, he recognizes himself not as a moral but as a tragic person. ↗
