Reparations [5]: Moral Compulsion

Reparations for American slavery require a sense of moral compulsion. Moral compulsion requires humility. Are we capable of it?

There is no hope for reparations if the topic is left to business and politics as usual – to the customary manner in which decisions are made, national affairs are conducted, pundits and media outlets clamor for sensationalism, social media serves up clickbait, religion and social science and academia offer their apologetics to an unappreciative public, and the elected and electorate alike close their minds to any opinion other than the one they already hold.

Reparations have no place in a culture given over to polarization, rage, and post-truth subjectivity.

The case for reparations cannot be heard by a society deafened with the noise of the daily outrage and distracted with the madness du jour.

The case for reparations cannot reach a national identity hijacked by endless competing and ever-shapeshifting agendas, histrionic accusations, and the exigencies of life ever more difficult and dystopian.

Reparations have no place where populists fan the fires of rage, and the enraged populace persists in voting against its own self-interest.

Reparations have no chance to gain the support of people long-starved of commitment to their communal welfare, unaware that their own beliefs and truths have done this to them, have dumbed them down with despair and chained them to the incessant grinding of life with no cushion against their misfortunes or safety net to catch them when they fall.

Reparations cannot capture the imagination of a nation that denies its people leisure time for renewal and reflection, that accepts as logical, normal, and virtuous that they should be compelled to labor in a state of total work without respite or gain or opportunity for improvement.

Reparations will not find a way in a nominally democratic country where the practice of democracy languishes under polarized ideologies, where systemic inequalities and social Darwinism are not merely accepted but revered as true and right and just and godly proof of their nation’s superiority.

That, and more, is why reparations don’t have a chance in contemporary America. Is there any countervailing force strong enough to pave the way for them?

Yes there is:  it is moral compulsion.

Moral compulsion is an urgency to set things to right, an overweening determination to be cleansed of an enduring ugliness, to be freed from the burden of national shame, a commitment to individual, cultural, and national transformation, an uncompromising will to transcend the mistakes of the past and meet the unprecedented challenges of today.

Moral compulsion would provide an irrepressible energy to displace the inevitable failure of reparations with robust action to ensure their implementation.

But what place does moral compulsion have in American policy-making at this time? Moral compulsion does not make the agenda of an administration devoted to consolidating its power by fomenting division and perverting the rule of law into a “law and order presidency.” Moral compulsion is also missing from the agenda of an opposition party incapable of anything other than the pathetic hope that if they stay still they will not be seen, if they remain silent they will not be singled out. Reparations have no chance when moral compulsion is unknown on one side of the aisle and a terror on the other. No conversation and compromise will ever be reached when even the least of moral consensus – common decency – cannot find common ground.

America’s current moral vacuum was not always the case.

“In the past, America has played a critical role on the global stage as a model for developing democracies, a crusader for human rights and a bulwark against the spread of authoritarian regimes. Former secretary of state Madeleine Albright once called America “the indispensable nation” for its moral leadership. But unlike ever before, scholars say, America’s commitment to democracy is flagging…. The risk, [Stanford political scientist Larry Diamond] says, is a century defined by the rise of the autocrat.”[1]

That was then.

What is now?

If the 2016 election taught us anything, it was that America had grown tired of its role as the world’s “moral leader.

Moral leadership had become tiresome, our efforts not worth the return. The catastrophes of recent decades of international policy and a lost taste for globalization suggested we were not as suited to the job of worldwide betterment as we once thought. We could pick a fight anywhere in the world and win it, therefore our strategy for bringing freedom and democracy to the world had been to impose our moral will by military force, covertly supported with the covert support of right-wing strongmen through corruption, bribery, torture, and other forms of governmental criminality. Our moral duplicitously was exposed when a raft of domestic and international whistleblowers and secret-leakers disgorged our tactics into public awareness, turning our times and technologies into apocalyptic revelation. They pulled back the facades of our imperial pridefulness, revealed the behind and beneath, ushered in a Great Revealing of ourselves to ourselves. Our secret vaults were opened, our private and vulnerable selves made known, all motives revealed, alliances betrayed, files ransacked, classified access breeched, proprietary information violated, everything hacked and made Open Source, seals all broken, all safes cracked, all containers emptied and their contents strewn across a million conference tables and chronicled in the tabloids.

By 2016, we had lost the stomach for it. Moral leadership had become a “loser.”

There was a moral lesson in all this that we could have learned, and new national self-awareness we could have gained.

    • What we will see, and what we won’t. The lenses we wear. The silos we construct.
    • What we block, recoil from. The shadows in our souls. The things we fear. The parts of us that threaten our own being.
    • Our biases, assumptions, prejudices, projections and deceptions. The cases we build to advantage ourselves, and the lengths we’ll go to cling to them.
    • The order we have imposed on life and the people in it. Rank, pecking order, winners and losers. Who we’ll talk to, friend, like, follow, ally with, and who we won’t. And why.
    • What we consider reasonable, viable, proper, possible… and their opposites.
    • What we will say, and what we won’t.
    • What we will hear, and what we won’t.
    • The secrets we carry, that we are confident will never be known by anyone but ourselves.
    • The cultivated appearances we can no longer keep up.
    • Our selective memories, choices, regrets. And resentments. Alliances betrayed and relationships broken. Forgiveness neither extended nor received.

The new, unflattering self-awareness we might have gained from these revelations could have helped us regain a newly realigned perspective on who we had become. But we didn’t want to hear it, so we didn’t learn it. There were some rare feints at remorse:  press conference confessions saying we were sorry while the betrayed stood stoically by. No one was fooled:  we weren’t sorry we did it, we were sorry we got caught.

What have you gathered to report to your progenitors?
Are your excuses any better than your senator’s?
He held a conference and his wife was standing by his side
He did her dirty but no-one died

What are you waiting for, a kiss or an apology?
You think by now you’d have an A in toxicology
It’s hard to pack the car when all you do is shame us
It’s even harder when the dirtbag’s famous

          The Killers, Run For Cover

Mostly, we stormed and swore vengeance against the prophets of our moral recrimination. We labelled them as traitors and enemies, blew their legal cover, strong-armed foreign governments to give them up to our salivating justice. We were defensive because the truth hurt. American was not as blameless as we wanted to think.

It could have been a moral reckoning, but it wasn’t.

The disorienting truth could have reoriented us as a nation, could have shown us how we had shunned and discarded our ideals to make room for the twin pillars of our foreign policy:  capitalism and militarism, We could have become freshly aware of what we had built while no one was looking and we weren’t paying attention. We could have, but we didn’t. We couldn’t separate ourselves from our need to feel good about ourselves, from our national belief — that we breathe in from childhood and begin learning before preschool — that our nation is the apex of civilization — morally, spiritually, militarily, and economically. If we were appalled at all by what we had become, it was not because of what we might have learned about ourselves but because we were terrified to see our shadow selves dredged up from our  own hidden vaults, now walking the streets; haunting and pursuing , calling us out. We completed our denial and purposeful self-deception by concluding that surely some enemy had done this, had sown tares in our heartland wheat. They had done it. And now we were on to Them, newly justified in our judgment and pure in our hatred of Them.

We had been called to reckon, but we didn’t. We still haven’t. We denied and fled – away from Them and into ourselves. Globalization became a dirty word. Among its many faults was that it had made the world too small. We had too many neighbors too close, too unlike us. We needed our open spaces back, needed to feel again our rugged individualism, the spirit that tamed the Wild West.

“Globalization may be partly to blame [for America’s flagging commitment to democracy]: In an increasingly interconnected world, governing has gotten trickier. ‘If you have a constant flow of capital, people and trade goods, it’s harder to figure out what to do in your own country,’ says political science professor Anna Grzymala-Busse, who directs the Global Populisms Project at the Freeman Spogli Institute. The increasing interdependence of the world’s economies also limits the impact of any one nation’s policies. As mainstream politicians struggle to solve ‘national’ problems that are, in actuality, intertwined with the actions and economies of other countries, voters can start to view them as inept.

“Globalization has stoked nationalism and anti-immigrant sentiment among citizens who fear not only the economic but also the cultural changes that can accompany such shifts. There again, Grzymala-Busse says, populists have stepped in, defining ‘the people’ of a country narrowly and subjugating minority interests. ‘Populist movements have this very corrosive impact on democracy,’ she says.”[2]

We abandoned the global village and rushed home to ourselves –the people we wanted to believe we had once been and still were. We put those people and their country first. We demonized and expelled outsiders, built walls against Them, withdrew trade, made capital calls, foreclosed on collateral, imposed tariffs. We imprisoned them, banned their travel, rejected them. It was our turn, our time, and we would make the best of it.

And none of that helped assuaged our national conscience, rooted as it was in the lies of lost utopia.

Lashed on by those who stood to gain the most from our disorientation, we stormed the gates of the lost Garden in hyped-up agitation, and the more we ranted, the more we became addicted, drugged with the madness of a mob that promised a return to the unjustified and unaccountable superiority we had granted to our idealized and delusional past. We reconstituted our fictional past into a delirious present, created in the image of every broken promise we had ever made.

We doubled down on a bluff, and when the other worldwide players laughed at our bravado, our national resentment turned spiteful and toxic. We turned our rage not only against Them but against ourselves. We banned the notion of the public welfare and communal good. We forfeited our rights to a living wage, to healthcare and education, to security in retirement, to home ownership, to security against our own human frailty and life cycles. We derided the notion of public welfare as weak and pitiful, and converted all of life and culture, law and economics, government and socio-economic policy over to hyper-competition. We traded moral and societal good for law and order, the triumph of power, and the ascension of socio-economic elitism. We drowned out doomsayers with chanted mythologies that placed humans, and particularly Caucasians, at the apex of Creation, crowned with the divine right to subdue it to our own ruin. We jettisoned science, objective truth, and reasonable discourse in favor of an unbridled right to mangle our own truth until it made us gods, force-feeding our starving souls with “reality” that wasn’t.

And now, into our failed and rejected moral leadership and policies of communal hatred comes the idea of reparations for slavery.

Which is why reparations don’t have a chance under America’s populist overlords and their domestic armies. The moral compulsion reparations require has been crushed in the void of our national implosion.

Reparations offer us a way out – a way to restore ourselves and our nation, to push back the night, to draw ourselves back from the brink of our final self-destruction. Paying the moral debt of slavery offers the salving of our collective conscience through restoring and recreating, repairing and remediating the stain of our beginnings and our stumbling path through our own history. It offers to fill the unfathomable moral trough excavated by the systematic brutalization of an entire class of fellow humans in ways that none, nobody, not one of the rest of us would ever. never, not ever accept for ourselves, not in a million years, but that our ancestors carried out in untroubled allegiance to what for them was normal, legal, and their divine right – an ideological tradition the nation has carried on ever since the ultimately empty “victory” of the Civil War, which officially abolished slavery but left untouched its de facto existence.

In our current moral vacuum, reparations for slavery are not just difficult and troublesome and unlikely, they are impossible – irrevocably not-on-my-watch, over-my-dead-body impossible. They have only one hope:

Reparations will be made only when
they are no longer reparations for slavery.

Not even if they are made for racism.

But when they are made for our lost humanity.

The essence of moral compulsion is humility.

America would need to do as Germany did after the Holocaust — publicly relinquish belief in the superiority of white European ancestry. Germans had to abandon the “Teutonic national myth.” Americans would need to abandon the myth of manifest destiny. Humbling ourselves in that way would be heroic.

If Germany’s example plays out in America, there would be violent opposition. And, as Germany’s example also teaches us, humility is a two-way street:  both those making reparations and those benefiting from them must humble themselves to each other and before the eyes of the watching world. Humility will not be easy on either side:

“Humility is the most difficult of all virtues to achieve;
nothing dies harder than the desire to think well of self.”

T.S. Eliot

We will look more at Germany’s example next time, also at the international mechanism created after WWWII that could help us with the difficult task of humbling ourselves – a mechanism  that America’s government has rejected.

[1] Patton, Jill, An Existential Moment for Democracy? As American leadership falters, scholars say, autocrats are on the rise, Stanford Magazine (December 2019)

[2] Ibid.

Ideologies at War

Discourse:  Formal and orderly
 and usually extended expression of thought on a subject.

Merriam-Webster

I finally figured out why there’s no discourse in economics. Or anywhere else, for that matter.

I started researching and writing about economics and the workplace three years ago. Right away, I noticed the topic was as polarized as everything else these days. I confess, I was surprised — I was a newbie, idealistic about my new course of study. I figured everybody would want to talk about it. But the pros? No. They talked past each other, nobody convincing anybody of anything they didn’t already believe.

And now I know why.

At first, I thought the divisions — right vs. left, capitalism vs. socialism, conservative vs. progressive, free market vs. Keynesian intervention, etc.  — were the result of opinions logically and studiously debated. Three years later, I can see it’s not so — those opposing positions are rationalizations after the fact, justifying prior beliefs grounded in ideology. When a topic — any topic — is dominated by competing ideologies, a fundamentalist dynamic takes over. Fundamentalism has no place for “formal and orderly and usually extended expression of thought.” Instead, it stifles discussion, damns doubt, brutalizes dissent. If you’re not with us, you’re against us — so choose sides, and the other side can talk to the hand.

We’ve seen, for example, how the Mont Pelerin Society and the Chicago School of Economics pursued their capitalist free market beliefs with fundamentalist zeal, and how the Democratic Socialists of America party has responded in kind. This, and other similar ideological standoffs have banished discourse from the field of economics.

The Berlin Wall fell because Soviet communism failed as a fundamentalist belief, leaving American capitalism the winner of the Cold War. Since then, political leadership in the U.S. and the U.K. has supercharged capitalism into its current hyper- competitive, hyper-privatized form, to the point that free market ideology has become not just economic policy but a cultural norm, and supporting it has become a patriotic duty.

Now in its fourth decade, the post-Cold War model of capitalism has failed in the same way Soviet communism failed before it:  it has neglected and alienated the “Public” — the res publica, the things that belong to the people, the things that assure citizens the basics of life and health, satisfying work, opportunity for educational, social, and economic betterment, and the sense of meaning, purpose, and well-being those things engender.

Fundamentalist ideologies wage war, and win at all costs. When free market economics became a fundamentalist ideology, it went to war. One of my daughters recently gave me a book published in 2007, at the height (depth?) of the Great Recession. The copyright date made me inclined to dismiss it as outdated. Now, as I read it, I wonder, how it is that we never knew these things, and most of us still don’t? This is from the book blurb:

“In this groundbreaking alternative history of the most dominant ideology of our time, Milton Friedman’s free-market economic revolution, Naomi Klein challenges the popular myth of this movement’s peaceful global victory. From Chile in 1973 to Iraq today, Klein shows how Friedman and his followers have repeatedly harnessed terrible shocks and violence to implement their radical policies.”

The Shock Doctrine:  The Rise of Disaster Capitalism, Naomi Klein (2007)

Pulitzer Prize winning journalist Chris Hedges wrote about the cultural dynamics of war in War is a Force That Gives Us Meaning (2014). As you read the following, substitute your ideology of choice — political, economic, religious, etc. — in place of war as armed conflict:

“War, in times of malaise and desperation, is a potent distraction.

“The cultivation of victimhood is essential fodder for any conflict. It is studiously crafted by the state. All cultural life is directed to broadcast the injustices carried out against us.

“The goal of such nationalistic rhetoric is to invoke pity for one’s own. The goal is to show the community that what they hold sacred is under threat. The enemy, we are told, seeks to destroy religious and cultural life, the very identity of the group or state.

“Patriotism, often a thinly veiled form of collective self-worship, celebrates our goodness, our ideals, our mercy and bemoans the perfidiousness of those who hate us.

“War makes the world understandable, a black and white tableau of them and us. It suspends thought, especially self-critical thought.

“Most of us willingly accept war as long as we can fold it into a belief system that paints the ensuring suffering as necessary for a higher good, for human beings seeks not only happiness but also meaning. And tragically war is sometimes the most powerful way in human society to achieve meaning.

“Before conflicts begin, the first people silenced — often with violence — are [those who] question the state’s lust and need for war. These dissidents are the most dangerous. Such voices are rarely heeded.

“Once we sign on for war’s crusade, once we see ourselves on the side of the angels, once we embrace a theological or ideological belief system that defines itself as the embodiment of goodness and light, it is only a matter of how we will carry out murder.”

Thus the Public has been “murdered” by economic policy as carried out under the current model of capitalism.

When the Public dies, so does public discourse.

It takes moral strength to dissent. The Business Roundtable recently took a step in that direction. According to its website, “Business Roundtable is an association of chief executive officers of America’s leading companies working to promote a thriving U.S. economy and expanded opportunity for all Americans through sound public policy.”

We’ll look at what the CEOs have to say next time.

Belief in the Free Market

Mammon

1909 painting The Worship of Mammon by Evelyn De Morgan.
https://en.wikipedia.org/wiki/Mammon

We saw last time that Milton Friedman and his colleagues at the Chicago School of Economics promoted the free market with fundamentalist zeal — an approach to economics that Joseph Stiglitz said was based on “religious belief.” Turns out that using religious-sounding language to talk about believing in capitalism isn’t as farfetched as it sounds on first hearing.

In the history of ideas, the “Disenchantment” refers to the idea that the Enlightenment ushered in an era when scientific knowledge would displace religious and philosophical belief. Reason, rationality, and objectivity would make the world less magical, spiritual, and subjective, and therefore “disenchanted.” You don’t need to know much history to know the Disenchantment never really played out — at least, certainly not in America.

“Each of us is on a spectrum somewhere between the poles of rational and irrational. We all have hunches we can’t prove and superstitions that make no sense. What’s problematic is going overboard—letting the subjective entirely override the objective; thinking and acting as if opinions and feelings are just as true as facts. The American experiment, the original embodiment of the great Enlightenment idea of intellectual freedom, whereby every individual is welcome to believe anything she wishes, has metastasized out of control. In America nowadays, those more exciting parts of the Enlightenment idea have swamped the sober, rational, empirical parts. Little by little for centuries, then more and more and faster and faster during the past half century, we Americans have given ourselves over to all kinds of magical thinking, anything-goes relativism, and belief in fanciful explanation—small and large fantasies that console or thrill or terrify us. And most of us haven’t realized how far-reaching our strange new normal has become.

“Why are we like this?

“The short answer is because we’re Americans—because being American means we can believe anything we want; that our beliefs are equal or superior to anyone else’s, experts be damned.

“America was created by true believers and passionate dreamers, and by hucksters and their suckers, which made America successful—but also by a people uniquely susceptible to fantasy, as epitomized by everything from Salem’s hunting witches to Joseph Smith’s creating Mormonism, from P. T. Barnum to speaking in tongues, from Hollywood to Scientology to conspiracy theories, from Walt Disney to Billy Graham to Ronald Reagan to Oprah Winfrey to Trump. In other words: Mix epic individualism with extreme religion; mix show business with everything else; let all that ferment for a few centuries; then run it through the anything-goes ’60s and the internet age. The result is the America we inhabit today, with reality and fantasy weirdly and dangerously blurred and commingled.”

Fantasyland:  How American Went Haywire, a 500-Year History, Kurt Andersen (2017)[1]

Villanova professor Eugene McCarraher makes the case that capitalism stepped up to fill the belief void created by Disenchantment enthusiasts, and became the new world religion.

Mammon book“Perhaps the grandest tale of capitalist modernity is entitled ‘The Disenchantment of the World’. Crystallised in the work of Max Weber but eloquently anticipated by Karl Marx, the story goes something like this: before the advent of capitalism, people believed that the world was enchanted, pervaded by mysterious, incalculable forces that ruled and animated the cosmos. Gods, spirits and other supernatural beings infused the material world, anchoring the most sublime and ultimate values in the ontological architecture of the Universe.

“In premodern Europe, Catholic Christianity epitomised enchantment in its sacramental cosmology and rituals, in which matter could serve as a conduit or mediator of God’s immeasurable grace. But as Calvinism, science and especially capitalism eroded this sacramental worldview, matter became nothing more than dumb, inert and manipulable stuff, disenchanted raw material open to the discovery of scientists, the mastery of technicians, and the exploitation of merchants and industrialists.

“Discredited in the course of enlightenment, the enchanted cosmos either withered into historical oblivion or went into the exile of private belief in liberal democracies…. With slight variations, ‘The Disenchantment of the World’ is the orthodox account of the birth and denouement of modernity, certified not only by secular intellectuals but by the religious intelligentsia as well.”

Mammon:  Far from representing rationality and logic, capitalism is modernity’s most beguiling and dangerous form of enchantment, Aeon Magazine (Oct. 22, 2019)

Prof. McCarraher develops his ideas further in his book The Enchantments of Mammon: How Capitalism Became the Religion of Modernity (2019). This is from the Amazon book blurb:

“If socialists and Wall Street bankers can agree on anything, it is the extreme rationalism of capital. At least since Max Weber, capitalism has been understood as part of the “disenchantment” of the world, stripping material objects and social relations of their mystery and sacredness. Ignoring the motive force of the spirit, capitalism rejects the awe-inspiring divine for the economics of supply and demand.

“Eugene McCarraher challenges this conventional view. Capitalism, he argues, is full of sacrament, whether or not it is acknowledged. Capitalist enchantment first flowered in the fields and factories of England and was brought to America by Puritans and evangelicals whose doctrine made ample room for industry and profit. Later, the corporation was mystically animated with human personhood, to preside over the Fordist endeavor to build a heavenly city of mechanized production and communion. By the twenty-first century, capitalism has become thoroughly enchanted by the neoliberal deification of ‘the market.’”

Economic theories — capitalism, Marxism, socialism — are ideologies:  they’re based on ideas that can’t be proven scientifically; they require belief. The reason thinkers like Kurt Andersen and Eugene McCarraher both use the term “dangerous” in connection with economic belief is because of the fundamentalist dynamics that invariably accompany ideological belief, secular or otherwise. We’ll look at that next time.

[1] The book is another case of American history as we never learned it. For the shorter version, see this Atlantic article.

Economic Fundamentalism

We saw last time that the goal of Chicago School free market economics was to promote “noncontaminated capitalism,” which in turn would generate societal economic utopia:

“The market, left to its own devices, would create just the right number of products at precisely the right prices, produced by workers at just the right wages to buy those products — an Eden of plentiful employment, boundless creativity and zero inflation.”

The Shock Doctrine:  The Rise of Disaster Capitalism, Naomi Klein (2017)

To the School’s free market advocates, these ideas were pure science:

“The starting premise is that the free market is a perfect scientific system, one in which individuals, acting on their own self-interested desires, create the maximum benefits for all. If follows ineluctably that if something is wrong with a free-market economy — high inflation or soaring unemployment — it has to be because the market is not truly free.”

The Shock Doctrine

Scientific method requires that theories be falsifiable:  you have to be able to objectively prove them wrong.

“The philosopher Karl Popper argued that what distinguishes a scientific theory from pseudoscience and pure metaphysics is the possibility that it might be falsified on exposure to empirical data. In other words, a theory is scientific if it has the potential to be proved wrong.”

But Is It Science? Aeon Magazine, Oct. 7, 2019.

But how do you prove an economic theory based on “uncontaminated capitalism” in an economically contaminated world?

“The challenge for Friedman and his colleagues was not to prove that a real work market could live up to their rapturous imaginings…. Friedman could not point to any living economy that proved if all ‘distortions’ were stripped away, what would be left would be a society in perfect health and bounteous, since no country in the world met the criteria for perfect laissez-faire. Unable to test their theories in central banks and ministries of trade, Friedman and his colleagues had to settle for elaborate and ingenious mathematical equations and computer models.”

The Shock Doctrine

Mathematical equations and computer models aren’t the same as empirical data collected in the real (“contaminated”) world. If falsifiability is what separates scientific knowledge from belief-based ideology, then Friedman’s free market theory is the latter. Some scientists are worried that this spin on scientific theorizing has become too prevalent nowadays:

 “In our post-truth age of casual lies, fake news and alternative facts, society is under extraordinary pressure from those pushing potentially dangerous antiscientific propaganda – ranging from climate-change denial to the anti-vaxxer movement to homeopathic medicines. I, for one, prefer a science that is rational and based on evidence, a science that is concerned with theories and empirical facts, a science that promotes the search for truth, no matter how transient or contingent. I prefer a science that does not readily admit theories so vague and slippery that empirical tests are either impossible or they mean absolutely nothing at all…. For me at least, there has to be a difference between science and pseudoscience; between science and pure metaphysics, or just plain ordinary bullshit.”

But Is It Science?

The Chicago School believed so ardently in the free market theory that its instructional approach took on the dynamics of belief-based indoctrination:

“Frank Knight, one of the founders of Chicago School economics, thought professors should ‘inculcate’ in their students the belief that economic belief is ‘a sacred feature of the system,’ not a debatable hypothesis.’”

The Shock Doctrine

This dynamic applies to every ideology that can’t be falsified — verified empirically. The ideology then becomes a fundamentalist belief system:

“Like all fundamentalist faiths, Chicago School economics is, for its true believers a closed loop. The Chicago solution is always the same:  a stricter and more complete application of the fundamentals.:

The Shock Doctrine

Journalist Chris Hedges describes the dynamics of “secular fundamentalism” in I Don’t Believe in Atheists. (The book’s title is too clever for its own good — a later version adds the subtitle “The Dangerous Rise of the Secular Fundamentalist.”)

“Fundamentalism is a mind-set. The iconography and language it employs can be either religious or secular or both, but because it dismisses all alternative viewpoints as inferior and unworthy of consideration it is anti-thought. This is part of its attraction. It fills a human desire for self-importance, for hope and the dream of finally attaining paradise. It creates a binary world of absolutes, of good and evil. It provides a comforting emotional certitude. It is used to elevate our cultural, social, and economic systems above others…. The core belief systems of these secular and religious antagonists are identical.”

Thus we have Nobel prize-winning economist Milton Friedman famously saying, “Underlying most arguments against the free market is a lack of belief in freedom itself” — a statement entirely in keeping with the Mont Pelerin  Society’s idealistic Statement of Aims, which we looked at last time.

And thus we also have Nobel prize-winning economist Joseph Stiglitz countering with his thoughts about economics in a contaminated (“pathological”) world:

“The advocates of free markets in all their versions say that crises are rare events, though they have been happening with increasing frequency as we change the rules to reflect beliefs in perfect markets. I would argue that economists, like doctors, have much to learn from pathology. We see more clearly in these unusual events how the economy really functions. In the aftermath of the Great Depression, a peculiar doctrine came to be accepted, the so-called ‘neoclassical synthesis.’ It argued that once markets were restored to full employment, neoclassical principles would apply. The economy would be efficient. We should be clear: this was not a theorem but a religious belief.”

As we also saw last time, historical socialism and communism join free market capitalism in their fundamentalist zeal. In fact, some think that economics in general has become today’s dominant cultural form of belief-based thinking. More on that next time.