Saturday, August 2, 2014

Market Fundamentalism

What a wonderful term "market fundamentalism" or "free market fundamentalism" is. I hadn't heard it until recently, though it was apparently popularized by George Soros in his 1998 book The Crisis of Global Capitalism.

As you likely understood immediately, a free-market fundamentalist is somebody who has the same relation to capitalism (in particular or perhaps economics in general) as a Muslim or Christian or Jewish or Hindi fundamentalist has to his religion.

Characteristics of the fundamentalist include:
  • There is only one truth faith, which I have and you don't.
  • My faith comes from unquestionable, unimpeachable, authoritative source ("UUAS").
  • You are doomed unless you see the world as I do.
  • I will fight tooth and nail to promote my beliefs.
  • There is no room for alternative beliefs or practices; believe as I do, and practice as I do, or else.
  • It is appropriate to use the power of the state to enforce and promote my beliefs, and to outlaw and/or erode yours.
  • All events, actions, circumstances, activities that don't support and confirm my beliefs are (a) invalid examples, and (b) the work of the Devil and/or the forces of evil.
  • I am free to pick and choose which of the tenets and principles of my beliefs, as stated by UUAS, apply to our situation and life today.
  • I am an "originalist" with complete devotion to the tenets and principles of my beliefs as stated by the UUAS. I (and my fellow believers) are the only reliable interpreters of what UUAS said and/or means.
If you need more, there's a brief article at Wikipedia.

By all means, incorporate this term into your political/economic vocabulary, and use it at every opportunity.


No comments: