Why Free Market Ideologues Violate Their Faith: “To preserve it”
By Michael McGehee at Oct 14, 2008
It became necessary to destroy the village in order to save it.
First, we should be clear about the fact that capitalism can't end because it never started. The system we live in should be called state capitalism, not just capitalism. So, take the United States. The economy relies very heavily on the state sector. There is a lot of agony now about socialization of the economy, but that is a bad joke. The advanced economy, high technology and so forth, has always relied extensively on the dynamic state sector of the economy. That's true of computers, the internet, aircraft, biotechnology, just about everywhere you look. MIT, where I am speaking to you, is a kind of funnel into which the public pours money and out of it comes the technology of the future which will be handed over to private power for profit. So what you have is a system of socialization of cost and risk and privatization of profit. And that's not just in the financial system. It is the whole advanced economy.
The faith-based ideologues known as Capitalists should just admit that there is and never has been a Free Market.
You cannot "preserve" that which does not exist.
The only thing being preserved is the wealth and leisure of affluent bankers.
And don't expect us to forget your response to Main Street in 2005. You can cover cow shit in strawberries, but even us simple folk in Texas won't eat it.