'Capitalists and Other Psychopaths'

Discussion in 'Economy' started by midcan5, May 13, 2012.

  1. midcan5
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    midcan5 liberal / progressive

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    Read this opinion piece, it contains more sense than is usually spoken when money and markets are mixed in discussion. Why do so many Americans worship markets?

    "In other words, Enron, BP, Goldman, Philip Morris, G.E., Merck, etc., etc. Accounting fraud, tax evasion, toxic dumping, product safety violations, bid rigging, overbilling, perjury. The Walmart bribery scandal, the News Corp. hacking scandal — just open up the business section on an average day. Shafting your workers, hurting your customers, destroying the land. Leaving the public to pick up the tab. These aren’t anomalies; this is how the system works: you get away with what you can and try to weasel out when you get caught."
    [..]
    There are ethical corporations, yes, and ethical businesspeople, but ethics in capitalism is purely optional, purely extrinsic. To expect morality in the market is to commit a category error. Capitalist values are antithetical to Christian ones. (How the loudest Christians in our public life can also be the most bellicose proponents of an unbridled free market is a matter for their own consciences.) Capitalist values are also antithetical to democratic ones. Like Christian ethics, the principles of republican government require us to consider the interests of others. Capitalism, which entails the single-minded pursuit of profit, would have us believe that it’s every man for himself." William Deresiewicz http://www.nytimes.com/2012/05/13/opinion/sunday/fables-of-wealth.html


    "As Sharpers, Parasites, Pimps, Players,
    Pick-Pockets, Coiners, Quacks, Sooth-Sayers,
    And all those, that, in Enmity
    With down-right Working, cunningly
    Convert to their own Use the Labour
    Of their good-natur'd heedless Neighbour:
    These were called Knaves; but, bar the Name,
    The grave Industrious were the Same.
    All Trades and Places knew some Cheat,
    No Calling was without Deceit."

    Bernard Mandeville
     
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Are Fannie and Freddie mentioned in the article?
     

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