naked capitalism: The OTHER Reason that the U.S. is Not Regulating Wall Street
Posted on February 7, 2010
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Many people assume that they just have to hang in there until things improve. But the powers-that-be are grabbing more and more power and – unless we stand up to them – they will take it all.
You have to realize that what they’re trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions. They’re not trying to make the economy more equal, and they’re not trying to share power. Their greed is (as Aristotle noted) infinite. So what you find to be a violation of traditional values is a re-assertion of pre-industrial, feudal values. The economy is being set back on the road to debt peonage. The Road to Serfdom is not government sponsorship of economic progress and rising living standards, it’s the dismantling of government, the dissolution of regulatory agencies, to create a new feudal-type elite.
And Foreign Policy magazine ran an article entitled “The Next Big Thing: Neomedievalism“, arguing that the power of nations is declining, and being replaced by corporations, wealthy individuals, the sovereign wealth funds of monarchs, and city-regions.
We either stand up, or we slip back into a darker age.
Read Full Article Here: Guest Post: The OTHER Reason that the U.S. is Not Regulating Wall Street « naked capitalism.
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