Discussion about this post

User's avatar
Seth R Yaffo's avatar

Markets are imperfect, but they're less imperfect than command economies tend to be. For a few decades in the mid-20th century, the U.S. benefited from the fact that 1) our chief economic competitors were too war ravaged to compete against American industry, 2) the developing world hadn't yet supplanted American manufacturing, and 3) technology hadn't yet reached a stage at which human obsolescence seemed a threatening possibility. It was nice while it lasted- if you happened to be a white middle class American during that time- but it was never going to be more than a temporary array of essentially accidental circumstances. Neither the center left nor the center right have been able to effectively deal with the erosion of that temporary order of things, not because of a lack of brainpower or ideas but because of the pace of market and technological change combined with the short term pressures that tend to impede longer term strategic thinking within liberal democratic societies. So yeah, we'll keep stumbling along until the next largely accidental period of stability materializes, foe better or for worse.

Russell Arben Fox's avatar

"I’m never more inclined to endorse the reactionary right than in its diagnosis of how 'what’s gained in wealth and freedom might be lost in alienation and anomie.'"

Somewhere, Marx is smiling, however ruefully.

26 more comments...

No posts

Ready for more?