Archive | October 6, 2011

Wall Street Occupation: What took you so long?

Karl Polanyi in the 20's

Buried in a book, I found this quote from the great philosopher and political economist, Karl Polanyi:

“This, indeed, is the last remaining argument of economic liberalism today. Its apologists are repeating in endless variations that but for the policies advocated by its critics, [economic] liberalism would have delivered the goods; that not the competitive system and the self-regulating market, but interference with that system and interventions with that market are responsible for our ills.”

He wrote that in 1957, far before the fast and loose Reagan years which ushered us into a mix of prosperity for the few, decreasing wages for the many and the creation of a populace scared out of their wits at angering their wealthy masters.

%d bloggers like this: