Tuesday, January 15, 2019

The Demoralization of the Market

Via DiasporaBR.

Brooks's headline last Friday ("The Remoralization of the Market") was so hilarious I found myself feeling the column couldn't possibly live up to it. With the appeal to some good old days from, I don't know, 1750 to 1970, when the Market was Moral, virtuous, kind, diligent, and generous, feeding the sick and clothing the hungry, and then came the Me Decade, and selfish individualistic investors suddenly deciding they were just in it for the money.

He really did kind of write it:
A deadly combination of right-wing free-market fundamentalism and left-wing moral relativism led to a withering away of moral norms and shared codes of decent conduct. We ripped the market out of its moral and social context and let it operate purely by its own rules. We made the market its own priest and confessor.
And that's how the Market got Demoralized. I guess the "left" is to blame for constantly telling grasping shareholders, "Hey man, if greed is your thing, hey, whatever feels good, as long as you don't hurt anybody." We should have found some kind of leftist language for telling capitalists they were doing the wrong thing, I wonder what that would look like.

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