Tuesday, 27 January 2009

Radical capitalism needs the stimulus package

I'm slow to the publishing punch, but not to the thought, that the fundamentalist capitalist response to the current recession is that businesses who are struggling should be allowed to fail and collapse, rather than get government subsidies. The government is asked to deregulate while business does well, and should stay away while the market determines which businesses should succeed and which should fail. Poorly performing businesses, or businesses selling archaic products should be marginalised or allowed to die.

So says the blogosphere, and many leftist critics.

But if that's the position of the fundamentalist capitalist, then the position of the radicalised capitalist is the one that wholly integrates the private pursuit of cash with government itself, because government is enlisted to support the pursuit of capital. This is the capitalist equivalent of the theocracy, in which the radicalised religious person insists that government enforce religious law. So too, in the radicalised capitalist model; the government must enforce the capitalist law, that all must generate capital.
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