Monday, February 28, 2011

The Market as God

The Worship of Mammon by Evelyn De Morgan


Living in the New Dispensation

by 
 
Harvey Cox

A FEW years ago a friend advised me that if I wanted to know what was going on in the real world, I should read the business pages. Although my lifelong interest has been in the study of religion, I am always willing to expand my horizons; so I took the advice, vaguely fearful that I would have to cope with a new and baffling vocabulary. Instead I was surprised to discover that most of the concepts I ran across were quite familiar.

Expecting a terra incognita, I found myself instead in the land of déjà vu. The lexicon of The Wall Street Journal and the business sections of Time and Newsweek turned out to bear a striking resemblance to Genesis, the Epistle to the Romans, and Saint Augustine's City of God.

Behind descriptions of market reforms, monetary policy, and the convolutions of the Dow, I gradually made out the pieces of a grand narrative about the inner meaning of human history, why things had gone wrong, and how to put them right. Theologians call these myths of origin, legends of the fall, and doctrines of sin and redemption.

But here they were again, and in only thin disguise: chronicles about the creation of wealth, the seductive temptations of statism, captivity to faceless economic cycles, and, ultimately, salvation through the advent of free markets, with a small dose of ascetic belt tightening along the way, especially for the East Asian economies....


 The Market God

Friday, February 25, 2011

Capitalism: A Love Story


On the 20-year anniversary of his groundbreaking masterpiece "Roger & Me," Michael Moore's "Capitalism: A Love Story" comes home to the issue he's been examining throughout his career: the disastrous impact of corporate dominance on the everyday lives of Americans. But this time the culprit is much bigger than General Motors, and the crime scene is far wider than Flint, Michigan.

michaelmoore.com

Capitalism: A Love Story is a 2009 American documentary film directed, written by and starring Michael Moore. The film centers on the financial crisis of 2007–2010 and the recovery stimulus, while putting forward an indictment of the current economic order in the United States and capitalism in general. Topics covered include Wall Street's "casino mentality", for-profit prisons, Goldman Sachs' influence in Washington, DC, the poverty-level wages of many workers, the large wave of home foreclosures, corporate-owned life insurance, and the consequences of "runaway greed".[2] The film also features a religious component where Moore examines whether or not capitalism is a sin and if Jesus would be a capitalist.[3]

The film was widely released to the public in the United States and Canada on October 2, 2009. It was released on DVD and Blu-ray on March 9, 2010.

en.wikipedia.org

Power in America


Figure 1: Net worth and financial wealth distribution in the U.S. in 2007



Wealth, Income, and Power

by G. William Domhoff

September 2005 (updated January 2011)