Rent, Debt, and Power
In 2009 Rolling Stone published an article by Matt Taibbi about Goldman Sachs. Taibbi writes: “The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” The statement is rather unfair to vampire squids, but aside from that detail the characterization is quite appropriate and, moreover, equally applicable to the finance, insurance, and real estate (FIRE) sector as a whole. In Killing the Host, Michael Hudson describes the FIRE sector as parasitic. He writes that “instead of creating a mutually beneficial symbiosis with...
You Are a Zombie
For reasons that are somewhat mysterious to me, zombie movies remain fairly popular. There has been a notable change in the genre, however. A few decades ago, zombie movies were probably best classified as a sub-genre of horror, while nowadays they seem to be a variety of disaster movie – particularly, a variety of end-of-the-world disaster movie. Picking up on this subtle, but telling genre shift, Brad Evans and Henry Giroux write in Disposable Futures, a book on the role of (depictions of) violence in contemporary society, that the zombie figure “speaks to a future in which survival fully colonizes...
On “Populism”
A decade ago or so, a “populist” was someone who appealed to the supposed reactionary underbelly of the common folk to win votes and/or influence. “Populists” were usually found on the right of the political spectrum, often even the extreme right. But things have changed and nowadays so-called “populist” movements and parties are often better described as leftist than as right wing (or as mixtures of left-wing and right-wing views). “Populism” and “populist” are usually terms of abuse: they express disapproval and disdain. What provokes this disapproval and disdain is that the alleged populist(s) crosses the boundaries of acceptable political...
Economics and Psychopathy
This is a lightly edited excerpt from my book/pamphlet The Hegemony of Psychopathy. * * * The reorientation of political ambitions after the Second World War from power and territory to wealth changed the relation between economics and the ruling elite. The “science” of economics, which already had been more influential and prestigious than any of the other social sciences, now gained an effective monopoly as the official supplier of government plans and policies, putting it in the center of power, and changing its status and what was (and is) expected of it. For one thing, politics demand(ed) “closure” —...
The Hegemony of Psychopathy (Excerpt)
This is an edited collection of excerpts from my book/pamphlet The Hegemony of Psychopathy that was just published. (It can be purchased in paperback or downloaded for free in PDF format at the publisher’s website.) * * * The Holocaust has received surprisingly little attention from social and political philosophers. This is surprising because the scale and extent of the atrocities involved in the Holocaust should be impossible to ignore. If we humans can do that, then that makes a difference — or should make a difference — for our beliefs about the ideal society, for example. At the very...
On Free Trade Ideology
According to conventional “wisdom” free trade leads to prosperity. Usually the idea is based on a version of David Ricardo’s (1817) theory of “comparative advantage” which is taught in most high-school economics classes. There is, however, a fundamental problem with that theory, as was shown by Frank Graham in 1923, and unfortunately that problem tends to be ignored. In the following, I will briefly summarize Ricardo’s theory and Graham’s correction thereof, and discuss why the latter is ignored and the effects and implications of that neglect. Ricardo’s model Assume a world with two countries, “country A” and “country B”, and...