For Whom the Bell Tolls?
by v.purto
"In this sense, the fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism -- it tells the world that this way of economic organization turns out not to be sustainable. In the end, everyone says, that model doesn't work. This moment is a marker that the claims of financial market liberalization were bogus." I cannot say better. I was waiting such a statement from such an accomplished economist as Mr. Stieglitz for years. My only addendum to Mr. Stieglitz is to remind readers that the Soviet Communism has as much in common with Marx's vision as an American Capitalism with Adam Smith's vision. One can read 'Manifest of the Communist Party' written by Marx and Engels in 1848 and 'Imperialism as the Last Stage of Capitalism' written by Lenin in 1915 to enjoy prognosticating abilities of thinkers of the old, who based their writing on the fundamentals of Nature, rather than politically expedient ripples. What really happened in the US and, thus, around the globe is not the result of deregulation conducted by some ill minded individuals, as Mr. Stieglitz implies. It has much more sinister nature/ It is result of merger between corporate world and State. And there is the name for such a merger that was coined by the expert in such matters - Benito Mussolini. The irony of all this Crash 2008 is that Benito Mussolini was admired at one point by Vladimir Lenin, whose role model from his young years was Nikolai Chernyshevsky whose most known book was titled 'What to do?'. In this book Nikolai Chernyshevsky promoted theory of rational egotism. One of the most important works by Lenin, in which Lenin put a foundation for the development of the party of the new type, as Lenin put it. In this task Lenin succeeded beyond his own wildest expectations, was also titled 'What to do?' But that is not all. There was another person, for whom Nikolai Chernyshevsky was also a role model. The name of that person is Ayn Rand, Alice Rosenbaum, who after graduation from the Leningrad University managed to the US causing much trouble to her teacher, philosophy professor Mr. Losev. In the States Ayn Rand had and still has huge following, especially among unrepentant Objectivists, Libertarians and other proponents of His Holiness Free Market. One of the members of the inner circle of Ayn Rand was Alan Greenspan whose name forever will live in infamy. If one adds to this picture that the phrase 'Who is not with us is against us', oft repeated by George W Bush, was the phrase most often used by Lenin and then Stalin; that roots of neocon ideology, many of whom at one point or another were followers of Leon Trotsky, including Christoper Hitchens, the latest convert to neocon cause; that the Trottsky's theory of 'permanent revolution' is very close to neocon's theory of permanent war, then comparison between fall of Berlin Wall and fall of Wall Street is very comparison loaded indeed.
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by v.purto
"In this sense, the fall of Wall Street is for market fundamentalism what the fall of the Berlin Wall was for communism -- it tells the world that this way of economic organization turns out not to be sustainable. In the end, everyone says, that model doesn't work. This moment is a marker that the claims of financial market liberalization were bogus." I cannot say better. I was waiting such a statement from such an accomplished economist as Mr. Stieglitz for years. My only addendum to Mr. Stieglitz is to remind readers that the Soviet Communism has as much in common with Marx's vision as an American Capitalism with Adam Smith's vision. One can read 'Manifest of the Communist Party' written by Marx and Engels in 1848 and 'Imperialism as the Last Stage of Capitalism' written by Lenin in 1915 to enjoy prognosticating abilities of thinkers of the old, who based their writing on the fundamentals of Nature, rather than politically expedient ripples. What really happened in the US and, thus, around the globe is not the result of deregulation conducted by some ill minded individuals, as Mr. Stieglitz implies. It has much more sinister nature/ It is result of merger between corporate world and State. And there is the name for such a merger that was coined by the expert in such matters - Benito Mussolini. The irony of all this Crash 2008 is that Benito Mussolini was admired at one point by Vladimir Lenin, whose role model from his young years was Nikolai Chernyshevsky whose most known book was titled 'What to do?'. In this book Nikolai Chernyshevsky promoted theory of rational egotism. One of the most important works by Lenin, in which Lenin put a foundation for the development of the party of the new type, as Lenin put it. In this task Lenin succeeded beyond his own wildest expectations, was also titled 'What to do?' But that is not all. There was another person, for whom Nikolai Chernyshevsky was also a role model. The name of that person is Ayn Rand, Alice Rosenbaum, who after graduation from the Leningrad University managed to the US causing much trouble to her teacher, philosophy professor Mr. Losev. In the States Ayn Rand had and still has huge following, especially among unrepentant Objectivists, Libertarians and other proponents of His Holiness Free Market. One of the members of the inner circle of Ayn Rand was Alan Greenspan whose name forever will live in infamy. If one adds to this picture that the phrase 'Who is not with us is against us', oft repeated by George W Bush, was the phrase most often used by Lenin and then Stalin; that roots of neocon ideology, many of whom at one point or another were followers of Leon Trotsky, including Christoper Hitchens, the latest convert to neocon cause; that the Trottsky's theory of 'permanent revolution' is very close to neocon's theory of permanent war, then comparison between fall of Berlin Wall and fall of Wall Street is very comparison loaded indeed.
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