Mr. Luce on Wall Street’s comeback: a comment by Political Skeptic

Mr. Luce in his essay titled ‘Too big to resist: Wall Street’s comeback‘ his rhetorical mood is subject to some breathtakingly wide swings in assigning blame for the 2008 Financial Crisis, and what he predicts will be the next Crisis, enabled by the persuasive power of the redoubtable Mr. Jamie Dimon, aided by a supine, purchasable congress. A thoroughly complex story reduced in his essay to the mention of major economic/political actors, yet the dismal failure of Neo-Liberalism, of the Free Market hegemony is never even put to question: Hayek’s irrational faith in the ‘wisdom of the Market’, as guiding principle that rendered the idea,not to say the practice, of the institutions of the commonwealth and it’s civic,legal,political, ethical holism moot. The blind faith in that Market as historical/economic singularity and it’s manifold popular vulgarizations is left utterly untouched, as source of our present political/economic dilemma. Although Mr. Luce does his best at scolding the culpable, while adroitly maintaining his well established credentials as defender/advocate for that very Neo-Liberalism.

Political Skeptic

About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer. 'Polemic is a discourse of conflict, whose effect depends on a delicate balance between the requirements of truth and the enticements of anger, the duty to argue and the zest to inflame. Its rhetoric allows, even enforces, a certain figurative licence. Like epitaphs in Johnson’s adage, it is not under oath.'
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